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Jasper Venture Group, a real estate investment firm, announced on May 7 that it plans to demolish the former hospital at 70-35 113th St. and construct a bigger building than the 70,000-square-feet property.
Including a parking lot, the site is more than 107,000 square feet.
The company did not release how many units the new building will have or when it is set to be complete, but said the new residential space will “breathe new life into the idle site.”
“The additional housing this project will provide when complete will be a relief to those seeking a more spacious option to the compact living New York City provides,” the company said in a release. “[T]he former Parkway Hospital will be luxurious, offering its residents a view of the lakes and their own slice of serenity.”
Parkway Hospital overlooks Grand Central Parkway and rests just outside of both Willow Lake and Meadow Lake in Flushing Meadows-Corona Park. The state closed the hospital in 2008 and it has been vacant since. The hospital filed for bankruptcy in 2005.
Former Parkway CEO Robert Aquino was sentenced to four months in jail in May of 2012 after he pleaded guilty to bribing former State Senator Carl Kruger to try to keep the medical facility open.