April 9, 2021 By Christian Murray
A team of developers held a ceremonial ground breaking at a prominent Forest Hills site Wednesday that will be home to an 11-story, 166-unit development.
The development is slated to go up at 69-65 Yellowstone Blvd., where a Key Food supermarket was located for years. The project generated some controversy when it was first announced, since the supermarket was viewed by many as a community necessity.
The developers, Slate Property Group and Groban-Gross Properties, did not require the site to be rezoned in order to construct the building—so the public had little opportunity to provide feedback.
The building will feature a brick façade and will include 50,000 square feet of retail space on the cellar and ground floors. A spokesperson for the developers did not say whether they were seeking a supermarket operator to take the space—only that they were looking for retail tenants.
The complex will feature landscaped outdoor common areas on the third floor and rooftop, with many units including terraces.
The building will include 50 affordable apartments—qualifying the developers for a 421-a property tax exemption. The project will also include 186 parking spaces.
“We are excited to break ground on this exciting new project today and celebrate the creation of 166 new apartments and retail space in Forest Hills,” said David Schwartz, Co-Founder and Principal of Slate Property Group, in a statement.
“Slate Property Group is committed to supporting our city’s recovery and tackling the housing shortage. Through mixed-use projects such as this, we are able to create new jobs, bring resources to the community and keep New York moving forward. We are proud to break ground on The Yellowstone today.”
The project is slated for completion in 2023.