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Logistic Center incentive package okayed
Wildflower Ltd. has secured an incentive package for its three-story warehouse being built close to JFK airport.
JFK Logistics Center will be built at 53-51 Rockaway Blvd., Woodmere, on what is now a long-term parking lot for travelers using the airport.
The three-story warehouse of about 235,234 s/f will bring more than 40 full-time-equivalent jobs to the Town of Hempstead.
The Town of Hempstead Industrial Development Agency (IDA) has given preliminary approval to an incentives package to assist JFK Logistics Center LLC, an affiliate of New York City-based Wildflower.
Under the proposed incentives agreement, tax revenues generated by the property, now $142,000, would be replaced by PILOT payments of $325,000 after four years, $650,000 after 10 years and $1.6 million at the end of the agreement.
The 11-acre property sits on the Nassau-Queens border with one acre in Queens, where the entrance to the warehouse will be located.
The proposed $78 million warehouse includes a 122,785 s/f first floor, which will have 32 ft. high ceilings, to be used for an industrial warehouse for logistics and airport cargo users.
The developer has indicated it has a tenant line up for the space. The second and third floors will be 110,000 s/f for small tenant warehousing and other uses.
JFK Logistics paid $16 million for the property earlier this year.
Zoning is in place and the developer is awaiting site plan approval by the Hempstead Town Board.
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