ROCKAWAY PARK — A shabby commercial strip is set for a major redevelopment with four large-scale residential buildings, according to a report.
Seaside Landing — a new development from The Marcal Group — is planned for a vacant lot and other abandoned buildings centered around Beach 116th Street, according to the Rockaway Times.
The buildings will all be nine-stories high and span lots from Beach 115th to Beach 117th streets, with 240,000-square-feet of residential and around 23,000 feet of commercial, they wrote.
The Brooklyn-based developer purchased the site of a former restaurant and catering hall on the strip last December for $5 million. They also bought a vacant lot across the street and other buildings on the strip.
Mark Caller, the principal partner of The Marcal Group, told the Rockaway Times they originally eyed the former Peninsula Hospital site to build affordable housing but the plans fell through."We are not affordable housing developers," he told the paper, although Seaside Landing will have affordable housing for seniors. Caller says the condos will be market rate, and he predicts he will sell at $500 a square-foot.
The Arker Companies purchased the former hospital for $19 million this summer.
Caller or another representative from The Marcal Group could not be reached for comment.
CORRECTION: An earlier version of this story incorrectly referred to the name of the project.
