$150m Dermot deal brings 800 new construction jobs.

New York City Economic Development Corporation (EDC) announced that The Dermot Company, Inc. has been selected to acquire and develop the two-acre site of the former Queens Family Courthouse in the heart of Jamaica.

The proposed project consists of about 380 residential units, 18,500 square feet of retail space, and parking for approximately 190 cars, as well as 25,000 s/fof space for community or cultural uses. The $130 million project will create more than 750 construction jobs and 80 permanent jobs.

EDC President Andrew M. Alper said, "This development project includes all the components we were looking for at this site. "Featuring high-quality, sustainable green design, it has the right mix of residential, retail and parking to meet the needs of the neighborhood, and it will encourage more private investment in Jamaica.

"With 25,000 square feet dedicated to community and cultural uses, it will be an asset to the entire neighborhood. It is also a good example of Mayor Bloomberg's commitment to breathe new life into neighborhoods in all five boroughs."

Stephen N. Benjamin, a partner in The Dermot Company, Inc., said, "We're delighted that EDC chose our plan for this terrific site in downtown Jamaica. "Earlier this year, Dermot completed The Opal in Kew Gardens Hills, a 388-unit residence, and the success of that project prompted us to pursue the Queens Family Courthouse RFP.

"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."

The Jamaica property contains an existing four-story courthouse building and a three-story annex building. Dermot plans to demolish the annex building, but will retain and restore the Italian Renaissance-style facade of the courthouse building and will restore several of the interior spaces within the Courthouse.

Dermot expects that the residential portion of the project will include approximately 300 low income, middle-income and market rate units, as well as about 75 affordable co-op units.

The project will also include amenities such as a health club, clubhouse, and an outdoor terrace. The Queens Public Library, the original tenant of the courthouse building, is expected to occupy a portion of the 25,000 square feet of community space.

In addition to The Dermot Company, the development team includes Fox & Fowle Architects and construction manager Kajima Construction Services.

Fried Frank Harris Shriver & Jacobson LLC will provide legal services. Dermot is committed to incorporating low-impact design and green technology techniques. The project will be LEED certified (Leadership in Energy and Environmental Design) by the U.S. Green Building Council.