A group of Chinese developers are looking to erect a mall, office building, hotel and residential complex on the border of Sunset Park and Dyker Heights, where they recently plunked down $51.5 million for the land.
The project, tentatively named Eighth Avenue Center, is slated for 6208 8th Avenue. The 160,700-square-foot site is currently a parking lot abutting the N line. When construction wraps up, the owners expect to see five buildings packing in a total of 1.1 million square feet of space.
World Journal, translated by Voices of New York, reports:
Raymond Chan, a co-developer whose architecture firm will design the project, said that because of zoning restrictions, this piece of land is the only lot in the Eighth Avenue neighborhood in Brooklyn that can be used for large-scale development. The project will not only alter the skyline of the neighborhood but also bring great changes in the dynamic of the Chinese community in Brooklyn.
“Today’s Eighth Avenue is like Flushing 15 years ago,” said Chan. He said that as a rapidly establishing Chinese neighborhood, the Eighth Avenue area has huge potential for development. So he and several other Chinese developers pooled together $50 million to purchase the land from Jewish developer Andy Cohen. They plan to build one mixed-use building of three floors of underground parking space, three floors of shopping area, and an activity center for community organizations, one 17-floor office building, one seven-floor and 150-room hotel, and two 15-floor residential condos.
Chan said for the only lot that is zoned C4-3 for large-scale development in the neighborhood, the price of $50 million was reasonable. He said the deal closed May 21. The plan is subject to change pending community board approval.
The lot appears to straddle the jurisdictions of Community Board 7 and Community Board 10, so they may need joint approval.
The owners told the publication that they hope to begin construction in the spring.