Dermot Wins $130M Courthouse Development

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JAMAICA, NY-The New York City Economic Development Corp. has selected the Dermot Co. to acquire and develop a two-acre parcel here in a $130-million project. The site is the former home of the Queens Family Courthouse. The project, which is expected to be completed in 2008, includes 380 residential units, 25,000 sf of community/cultural space, 18,500 sf of retail and parking for approximately 190 cars.

A recently completed project in Kew Garden Hills–the 388-unit residence called the Opal–prompted the Dermot Co. to pursue the RFP on the project, says Dermot partner Stephen N. Benjamin. “We believe the project will help pave the way for further new residential development in Downtown Jamaica and bring additional job growth to the local community.” He anticipates the project will create 750 construction jobs and 80 permanent ones.