A developer is planning a multifloor retail facility at the site of the former Salvation Army store on Bedford Avenue.

Thor Equities, a real estate development and investment firm, recently signed a contract to purchase the property, which is now under construction. The company says the property is in a prime location because the corner of Bedford Avenue and North Seventh Street is the busiest in Williamsburg.

The property has more than 14,000 square feet of rentable space, which the developer says could be turned into a two-story building, in addition to basement and roof space.

Ten-year Williamsburg resident Peter Cestaro is vehemently opposed to the idea of additional retail space in the neighborhood.

"I think it will probably be awful," Cestaro said. "I think the whole neighborhood is going toward really high-end stuff and it's kind of enough."

The Salvation Army declined to comment on the purchase.