Downtown Jamaica is New York City’s gateway to the world. Best known as an established transit hub and traditional retail district, Downtown Jamaica is being revitalized and re-imagined as a bustling commercial and residential neighborhood with unparalleled transportation access, innovative retail and a strong cultural identity. Strategic economic development initiatives have brought new energy and opportunity to the Downtown Jamaica area.

Rezoning Creates Opportunity
Thanks to a significant rezoning in 2007, as well as investment in key public improvements, Downtown Jamaica is poised for growth. In particular, the area around Jamaica Station has been targeted for high-density commercial and residential development. In total, there is opportunity within Downtown to develop 2 million SF of office space, nearly 5,200 housing units, and over 1 million SF of hotel and retail space. It is believed that these developments will spur the creation of nearly 10,000 new jobs.

Three million workers live within a 45-minute commuting distance to Downtown Jamaica, and more than 300,000 regional, national, and international travelers pass through the area each day. Over half a million people live, work, or use Downtown Jamaica’s commercial, educational, governmental, and transportation services on a daily basis.

Who's Already in Downtown Jamaica
Jamaica is already home to a variety of educational, governmental, healthcare, and corporate institutions. Among these are CUNY’s York College, the U.S. Food and Drug Administration’s regional headquarters and laboratories, the Queens Family, Civil, and Supreme Courts, and the headquarters for the Long Island Railroad. Two hospitals, Mary Immaculate and Jamaica Hospital, are located in Downtown Jamaica, as well as the northeast regional headquarters of the Social Security Administration.

Downtown Jamaica has a rich cultural history and an active cultural community centered on music, food and the arts. Once home to legendary jazz and R&B greats, Jamaica remains a destination center for musical performances and production.

Diverse Cultural Offerings
The Jamaica Center for Arts and Learning (JCAL), the Cultural Collaborative Jamaica and the York College Performing Arts Center offer a variety of cultural and arts programs including professional performances, art exhibitions and free concerts. JCAL and its partners are working on an $18 million restoration of the former First Reformed Church that will become the 400-seat Jamaica Performing Arts Center.

A Growing Neighborhood
Over the past several years, new residential construction has taken shape in the Downtown area. Among some of the projects completed or underway are the 90-unit, market-rate rental development Yorkside Tower, the $130 million renovation of the former Queens Family Courthouse by the Dermot Company into a 350-unit residential, retail and community complex, and 350-market rate housing units will be created as part of the mixed-use 168th Street development by NYCEDC.

Surrounding Downtown Jamaica are several, well established residential neighborhoods such as Briarwood, Kew Gardens, Jamaica Estates, Hollis and Richmond Hills.

Since the opening of the AirTrain-Jamaica Station in 2003, Downtown Jamaica is just an 8-minute ride from JFK International Airport. The AirTrain-Jamaica Station complex is served by:

• Four convenient subway lines: the E, J, Z, and the F train at Parsons Boulevard 
• Nine Long Island Rail Road lines at the AirTrain/Jamaica Station 
• Forty-nine bus lines including Q6, 8, and 9 and the 111, 112, and 113 
• Two Major Highways serve Downtown Jamaica, the Van Wyck Expressway and the Grand Central Parkway
  

Office Market
Jamaica’s Central Business District is considered part of the Northeast Queens submarket, which consists of approximately 7.0 million SF of office space. 490,000 SF of that space is designated as Class A.

• Vacancy Rates
  Vacancy rates for the area ended 1Q 2008 at 7.6 percent. There is nearly 202,000 SF of office space currently available.
• Average Asking Rents
  Average office asking rents for the Jamaica market at the end of 1Q 2008 are $31.08 per SF, according to CoStar Property. Asking rents for retail space range from approximately $100 - $150 per SF.

A Retail Destination
Spurred by the opening of the AirTrain terminal, Downtown Jamaica has experienced a dramatic commercial transformation. Its strong retail sector includes the Gertz Mall and the $80 million, 220,000 SF One Jamaica Center which hosts the 15-screen Jamaica Multiplex Cinema, the Gap, Old Navy and Bally’s Total Fitness among others.

Additional national retailers who have located in Downtown Jamaica include, the Children’s Place, Home Depot, Marshall’s, Nine West and Zales as well as a range of national and regional banks including Washington Mutual, Bank of America, and Carver Federal Savings Bank.

Major initiatives are underway that will both improve public infrastructure and create more attractive gateways into the Downtown area. An $80 million comprehensive package of improvements in the heart of Downtown Jamaica, rezoned for high-density development, will further enhance transportation access and revitalize the public environment around the AirTrain/Jamaica Station area.

Atlantic Avenue Extension and Gateway Project
This $24 million project will extend Atlantic Avenue and connect it with 95th Avenue, creating a new gateway to Downtown and a public park. It will improve traffic patterns, enhance the streetscape and include landscaping and signage for users entering the Station area. Construction is anticipated to begin in early 2009.

Station Plaza
This $46 million project will realign Archer Avenue in order to create a safe, inter-modal transfer for passengers using the bus and transit systems by creating new public plazas, wider sidewalks and decreased traffic congestion. Design is underway and construction is expected to be completed in 2011.

Sutphin Underpass
This fully-funded project will create a more attractive street-level pedestrian experience in the passage running beneath the Long Island Railroad, directly across from the AirTrain Terminal. The project will remove existing industrial uses in order to illuminate the underpass, create over 5,000 SF of new, local retail space and provide the key linkage between the north and south areas of redevelopment. Design is complete and construction is expected to begin in Summer 2008.

Downtown Jamaica contains a number of sites that are suitable for assemblage and could support the development of commercial, office and hotel facilities. Numerous development sites, totaling over 1 million SF, are uniquely situated to take advantage of the access provided by the burgeoning transportation hub.

Many public and private development projects are planned and currently underway in Jamaica.

Jamaica Techno-Mart
Located one block from Jamaica Station, the planned 13-story, $260 million Jamaica Techno-Mart will include over 580,000 SF of wholesale space, 150,000 SF for local and national retail, provide between 500 and 800 parking spaces and create approximately 3,000 jobs. The development aims to leverage the connectivity between Jamaica and JFK via the AirTrain. Construction is anticipated to begin late 2008.

168th Street Development
The168th Street Development will be a 425,000 SF mixed-use building providing approximately 350 units of housing, 80,000 SF of retail space, and on-site parking. The project will attain LEED certification and serve as a model of the development potential afforded by the overall Jamaica Plan.

Additional development plans in Downtown Jamaica call for a 500-room hotel that will provide banquet facilities, meeting and retail space, as well as affordable housing.

 The estimated savings from the following as-of-right programs can total $15 per SF or more per year. (See table below for sample benefits calculation.)

Relocation and Employment Assistance Program (REAP) ^{(1) (2)}

• Annual credit against City business tax of up to $3,000 per employee for companies that relocate from outside NYC or from Manhattan below 96th Street
• Benefits are available for up to 12 years, refundable for first five
• Benefits are available for all jobs moved and created over the first five years, up to the greater of 100 and twice the initial number of employees
• Company must have been operating for 24 months before the start of the tax year during which it relocated
• Minimum required investment of $25 per SF on leased space, or the building must be improved by 50 percent of its appraised value

To apply, download this REAP Application (PDF) maintained by nyc.gov.

Commercial Expansion Program (CEP) ⁽¹⁾
A credit of up to $2.50 per SF per year for five years is available to tenants signing qualifying leases in pre-1999 buildings with at least 25,000 SF of floor area. To be eligible for the program, minimum lease terms and investments are required as indicated below:

• Minimum lease term must be (a) three years if 125 people or fewer will be employed in the premises; or (b) 10 years if more than 125 people will be employed in the premises
• Minimum investment level must be at least (a) $2.50 per SF for leases of less than 10 years and for renewal leases of 10 years or more that include newly leased space; (b) $5.00 per SF for renewal leases of 10 years or more involving only previously occupied space; and (c) $25.00 per SF for new and expansion leases of 10 years or more

To apply, download this CEP Application (PDF) maintained by nyc.gov.

Industrial and Commercial Incentive Program (ICIP)

• Partial exemption from increases in real property tax that would otherwise result from construction or renovation of commercial buildings
• Minimum expenditures required
• Benefits depend on location of property

To apply, download the ICIP Application (PDF) maintained by nyc.gov.

Energy Cost Savings Program (ECSP) ^{(1) (3)}

• 12-year program providing discounts of up to 45 percent on delivery portion of electric and gas bills
• To qualify, building must be receiving ICIP benefits or be leased from the NYCIDA, City of New York or certain other public agencies

To apply, download the ECSP Application (PDF) maintained by nyc.gov.

Empire Zone (EZ)
A state program that aims to give companies that increase employment in the area the opportunity to operate on an almost “tax-free” basis for up to 10 years in designated areas of New York State, with additional savings available on a declining basis in years 11 through 15.

Institutions locating or expanding in an Empire Zone (South Jamaica) that are certified prior to June 30th, 2011, are eligible for sales tax exemption, real property and business tax credits.

For more information or to apply for Empire Zone incentives, contact the Greater Jamaica Redevelopment Corporation at (718) 291-0282 or contact the state at www.empire.state.ny.us .

Note:
* (1) Program not available to retail stores.
* (2) Program not available to not-for-profits.
* (3) Program not available to not-for-profits if services are performed at this location