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RDRC 22nd Annual Tribute Dinner Business and Professional Services RDRC Fifth Annual Golf Tournament
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REAL ESTATE DEVELOPMENT DIVISION RDRC's Real Estate Development Division is engaged in the acquisition, rehabilitation, and construction of retail, office and educational space on the Rockaway peninsula. RDRC is involved in every facet of the development process from project feasibility through design and construction documentation through lease up and/or sale. The division targets key properties, which hinder the overall revitalization of the Rockaways, and puts these properties back in use to benefit Rockaway residents. RDRC partners in these projects with real estate brokers, leasing agents, architects, engineers, contractors, lending institutions and other real estate professionals to ensure that the necessary resources are available to support each project. In addition, many of RDRC’s projects include a mix of public funds and private resources to make the success of the development possible. RDRC works closely with other professionals to navigate the political and bureaucratic landscape and insure that the development efforts meet "public good" objectives. RDRC Office Center Project With a grant from HUD, RDRC has purchased a five-story, vacant, retail/office building located at 21-17 Mott Avenue in Far Rockaway. RDRC will own and manage this property, which will house RDRC’s headquarters as well as generate rental income from its commercial tenant. The RDRC Pauline Rhodd-Cummings Educational Center Currently RDRC has brought the College of New Rochelle’s School of New Resources to the peninsula to provide Rockaway residents with the opportunity to pursue a four-year bachelor of arts degree. Through RDRC’s efforts a four-year college degree can now be pursued in this underserved part of New York City. RDRC is engaging a number of other educational providers to bring to the peninsula educational offerings in health information management, GED prep, English as a Second Language courses, health care related training, information technology training, and nursing degree programs. As RDRC keeps its finger on the pulse of the community’s educational needs more offerings and pilot programs will be developed. It is also anticipated that other sites throughout the peninsula will be developed to house all the different educators. Far Rockaway Shopping Mall Project The creation of a community-sized retail center in downtown Far Rockaway is an opportunity borne first and foremost by strong market demand. It is estimated that area residents spend over $260 million annually outside of the Far Rockaway community. RDRC believes that downtown Far Rockaway is well-positioned to recapture those expenditures for a number of reasons. The area hosts key transportation nodes, an abundance of underutilized commercial properties, renewed public interest and support, and a sustained demand for shopping and convenience goods and services. The Mall Site, given its size, adjacency to the hub, orientation and frontage onto the major commercial corridors and its single ownership status, is an ideal site to capitalize on this opportunity. Historically the Mall Site was a successful retail development providing some 80,000 square feet of retail space. Today, over 90% of the site is vacant. RDRC believes that the site can once again become a valuable economic and social resource to the community.
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