Park Slope Key Food To Close In August For Redevelopment: Report

PARK SLOPE, BROOKLYN — A long-dreaded closure of a Park Slope supermarket is slated for August as developer prepare to transform the Fifth Avenue site, Patch has learned.

The William Macklowe Company and Senlac Ridge Partners — who bought the 120 Fifth Ave. Key Food property last year — revealed last week that the grocery store is expected to close and vacate the site on or before Aug. 12 to make way for their 184-unit development, according to a press release shared on a Save the Fifth Avenue Key Food Facebook page and with YIMBY.

The closure follows years of contentious debate about the future of the Key Food property, which was first slated for redevelopment in 2015. Macklowe and Senlac acquired the property from another group of developers who had similar plans for a residential project at the site.

The latest plan for the property includes a 184-unit residential building with 67,000-square-feet of commercial space, including a new supermarket. Demolition and construction is expected to start by the end of 2021, according to the release.

The residential portion of the building will include 46 units of affordable housing, which will range from low-income levels of affordability to units for those making 100 percent of the area median income, according to the developers.

The affordability levels were part of a Community Cooperation Agreement the developers reached with the help of ten neighborhood groups and Council Member Brad Lander.

“From the moment we purchased this site, we committed to working in close collaboration with key local civic organizations, community leaders, and Councilmember Brad Lander to shape a vibrant new development that is harmonious with the surrounding neighborhood,” said Billy Macklowe, CEO of the William Macklowe Company. “We look forward to creating a project that will bring many amenities to the area, including new restaurants, a variety of retail shops and services, along with a full-scale supermarket, and housing for individuals and families across a range of incomes.”

Macklowe said the company is currently soliciting proposals for a long-term lease with several supermarket operators. The grocery is expected to open in 2024.

The development plans also include making traffic safety improvements near the site, coordinating with neighbors about construction and building a parking garage for 130 cars, according to the release.