JK Equities (JKE), an established private real estate company focusing on acquiring, developing and operating real estate throughout the United States, today announced that they recently closed on a $35.8 million construction loan provided by Provident Bank and was able to break ground at its 105,000-square-foot, mixed-used and transit oriented development located at 281-301 Warner Avenue in the Historic Village of Roslyn on the North Shore of Long Island, NY.
“This is yet another significant milestone for this development since our acquisition in 2019, we are ecstatic for construction to begin,” stated Jerry Karlik, principal of JKE. “After gaining approval of our plans, and working with our team, we are happy that this project – both part of the Industrial Development Agency Program and Brownfield Cleanup Program – will be delivering a new, walkable and transit friendly development for this neighborhood that I’ve lived in and cherished for many years.”
The $50 million development is being designed by Mojo Stumer Architects (Mojo Stumer) and will have 54 units ranging in size from 750-square-foot one-bedroom homes to 1,500-square-foot two-bedroom apartments as well as 6,600 square feet of retail and 130 parking spaces including up to 30 electric vehicle charging spots.
“The building architecture has a very distinct character and form, which grew and developed as a response to the unique site and its varied surroundings. With a dynamic material palette of wood, black brick, and concrete-look porcelain, the façade design visually breaks the building down to smaller components as it wraps the substantial grade changes across the property,” said Mark Stumer, founding principal of Mojo Stumer. “The result is a creatively designed, and site-responsive piece of architecture which will be an exciting new landmark at this southern entry point to the Village of Roslyn.”
The development site is slated to be completed in early 2024.
