Downtown Jamaica offers the most advantageously positioned and lowest priced major real estate development opportunities in New York City. The 368-block September 2007 rezoning of Jamaica has unlocked the Downtown’s potential for major real estate development.
With the recent completion of New York’s futuristic $3 billion Air Train, which links all JFK Airport terminals directly to a new $350 million terminal in Jamaica, Greater Jamaica Development Corporation is turning Downtown Jamaica into a gateway between America’s most important city and its largest airport.
“Transit-oriented development” is the key to turning these unique locations into a hub of easily accessible economic development opportunities. New businesses that move into many areas of Downtown Jamaica can also benefit from generous Empire Zone tax credits, and GJDC can help new and existing businesses gain access to other business incentives.
In the next few years, a major hotel and retail mall, as well as top quality commercial space, will be developed in Downtown Jamaica to support uniquely situated commerce connected to JFK. New housing already underway—and in the planning stages—will support this development. We invite you to join us in this opportune season of growth.
Click here to download the 2011 Chairman’s Report.
