New York & Tri-State + Uptown/Bronx + Retail | July 23, 2021

2856-Webster Avenue affordable housing Bronx rendering

Lease with Douglaston Development Keeps Grocer in Bronx’s Bedford Neighborhood

Douglaston Development has completed a 12,373-square-foot, 40-year lease with grocery purveyor Cherry Valley Marketplace. Cherry Valley Marketplace will operate a Food Retail Expansion to Support Health (FRESH) certified marketplace at 2856 Webster Ave. in the Bedford section of the Bronx, the building it has called home for more than 15 years.

This transaction is part of the two-phased, mixed-used project that will deliver approximately 448 units of affordable housing to the community upon completion at 2856 Webster and 410 Bedford Park Blvd. on land owned by The New York Botanical Garden.

The FRESH program promotes the establishment and retention of grocery stores that dedicate required selling space to perishable food items within underserved communities. Douglaston Development received certain zoning incentives from the New York City Department of City Planning in exchange for its commitment to keep healthy grocery stores available to the community.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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