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QC01222015

38 The QUENS Courier • REAL ESTATE • JANUARY 22, 2015 for breaking news visit www.queenscourier.com ▶ real estate CITY CONSIDERING REZONING LIC FOR EVEN MORE HOUSING PRE-K TO REPLACE COIN ARCADE GAME WAREHOUSE IN RICHMOND HILL BY LIAM LA GUERE lguerre@queenscourier.com @LiamLaGuerre There will be no more games at this former warehouse, because class is almost in session. The School Construction Authority signed a 10-year lease for a one-story Richmond Hill building, and it plans to create space for a pre-kindergarten at the site, which was formerly a warehouse for arcade vending machine supplier Bay Coin Distributors. The arcade business is moving its operations blocks away to a smaller location, according to real estate firm Kalmon Dolgin Affiliates, which handled the transaction. The school will take up the entire warehouse building at 132-10 Jamaica Ave., which has 12,400 square feet of space, and will seat 100 students when completed. The site had an asking price of $30 per square foot. Construction has already begun to transform the building into the new school, a representative for the real estate firm said. BY LIAM LA GUERE lguerre@queenscourier.com/@LiamLaGuerre The residential construction boom in Long Island City may continue for much longer as the city mulls over a potential rezoning to allow more high-rise apartment buildings in the neighborhood. City Hall is considering up-zoning an area covering about 100 blocks, which includes the Queens Plaza and Court Square sections, to promote more residential buildings, including many with mixedincome units, to combat the affordable housing crisis in the city, according to a published report. The plan has support from some in the community, but also draws concern about upgrading public amenities for current residents, such as transportation and schools, before bringing in more people. Even without the up-zoning, thousands of new residents will be coming to Long Island City in the near future. There are already about 20,000 units under construction in the neighborhood, business advocacy group Long Island City Partnership told the Wall Street Journal. Other community leaders feel it could further diminish the shrinking manufacturing sector in the burgeoning neighborhood and put pressure on the balance the community is trying to maintain. The LIC Partnership will conduct its own planning study, focusing on how to balance business, residential, tech and industrial growth in the area in years to come. The New York City Regional Development Economic Council awarded a $100,000 grant for the study and subsequent plan that will be created from it. Photo courtesy Kalmon Dolgin Associates 132-10 Jamaica Ave. THE COURIER/Photo by Liam La Guerre


QC01222015
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