The redevelopment of the NYPD parking garage is the first major milestone to arise from the Jamaica NOW Action Plan, a $153-million neighborhood revitalization initiative announced in 2015 by the de Blasio Administration, Queens Borough President Katz and the NYCEDC.
A top advisor for the New York governor had been convicted of taking construction and real estate development bribes.
In conjunction with the EdR purchase, Blackstone Real Estate Income Trust, Inc. and partner Greystar Real Estate Partners also reported they had closed on the $1.2-billion purchase of EdR’s student housing portfolio.
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