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Park Slope May Lose a Grocery Store, Gain More Apartments

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Continuing the trend of turning neighborhood utilitiesparking garages, gas stations, and the like—into rental and condo developments, a Park Slope grocery store may soon be going residential. DNAInfo reports that Avery Hall Investments is in talks to buy the Key Food at Fifth Avenue and Sterling Place, one of the neighborhood's biggest remaining grocers, and turn it into a mixed-use development.

Avery Hall Investments has a long history of building in Brooklyn: the firm is behind the Morris Adjmi-designed development at 465 Pacific Street and the gas station-replacing condos at 112 Atlantic Avenue, among others. The Key Food deal, for a parcel of land that includes the store itself and the adjacent parking lot, is still a ways off from being completed; the deal won't close until next year. But if all goes according to plan, the developer will build a mixed-use development that will include some affordable housing. (A new grocery store may be part of the developer's plans, according to a spokesperson.) And, lucky for the developers (though maybe not for Park Slope residents), building a new residential/commercial building would not require going through the lengthy ULURP process.
· Park Slope Key Food Site Targeted For Residential Project [DNAInfo]