Development in Jamaica is about to pick up and bring big changes to the New York City real estate scene, according to a firm building new apartments in the area.
TCX Development, a Great Neck-based firm, is working on a seven-story, 21-unit apartment building on Hillside Avenue near 191st Street. TCX officials believe they are ahead of the wave of development they feel is coming to the neighborhood because of its zoning, extensive public transportation network and massive downtown shopping district.
“We really believe in this area. We’ve done a lot of research and we are sure that this area is due for a lot of development soon,” said Joshua Asherian of TCX Development. “The zoning is already there and the retail is already there, It’s only a matter of time.”
TCX released renderings for the project last week, as New York YIMBY revealed, and the building is expected to be completed in 2015.
The exterior of the 15,000-square-foot building will be designed with black brick and metal siding with large windows. The interior will have a modern finish with key card access. There will also be 11 enclosed parking spots.
The building will mostly be comprised of one-bedroom apartments for $1,600 a month, which Asherian said will be attractive compared to Brooklyn and Manhattan prices for comparable rooms. There will also be one three-bedroom penthouse.