PARK SLOPE — A developer with roots in the neighborhood is planning a residential and commercial project at the site of the Key Food grocery store on Fifth Ave and Sterling Place, DNAinfo New York has learned.
Avery Hall Investments is in contract to buy the parcel at 120 Fifth Ave. and hopes to close on the deal in the second half of 2016, a spokesman for the developer said. The property is now home to one of the largest grocery stores in Park Slope and a sizeable parking lot.
If all goes as planned, Avery Hall Investments will build a residential and commercial development that will include some affordable housing, said Ethan Geto, a spokesman for the developer.
The project would not require a zoning change and wouldn't trigger the city's public land use review process, Geto said.
The project is still in the early planning stages, but Avery Hall Investments is considering maintaining a grocery store at the site, Geto said.
The owner of the Key Food, Pick Quick Foods, Inc., did not respond to requests for comment.
Avery Hall Investments founding principal Brian Ezra grew up in Park Slope and partnered with two classmates from Columbia University to form the development firm.
The trio say their goal is to create developments that will "enhance" Brownstone Brooklyn.