The controversial Ridgewood high rise mixed-use building, which will be located on three lots straddling Nicholas Avenue and Myrtle Avenue, will break ground soon, according to AB Capstone, the project’s developer.
Meir Babaev, the head of investments for AB Capstone, stated in an email to the Queens Tribune that the developer intends to break ground on the 17-story tower in the next 30 to 45 days.
Babaev confirmed that although the real estate company Cushman and Wakefield announced that it was hired to sell the site in February, AB Capstone no longer has plans to sell it.
Neighbors have confirmed that workers are currently at the location readying the site for the upcoming groundbreaking.
Local residents and Assemblywoman Catherine Nolan (D-Long Island City) have protested the site, claiming that the development will not be affordable to Ridgewood residents and speed up gentrification of western Queens.
The 30,000-square-foot first floor would be exclusively comprised of retail. Floors three through five would have office space and be approximately 60,000 square feet. There will be two floors of parking facilities, including the basement, which would have 210 spaces, and a second floor with 140 spaces.