Merchants Capital recently secured funding to redevelop a historic hospital structure in Jamaica, Queens into low-income and supportive housing. The announced funding package amounts to $21 million in the form of a Freddie Mac unfunded forward Low-Income Housing Tax Credit (LIHTC) cash loan on behalf of private affordable housing developer Dunn Development Corp.
Designed by architect John Russell Pope in the 1940s, the 11-story building functioned as the Triboro Hospital for Tuberculosis. It was later converted into a general hospital in the 1970s. While the hospital is no longer in use, the building was listed on the National Register of Historic Places in January 2019.
Following renovations, the building will debut as the T-Building and is expected to complete by July 2021. The 200-unit development will provide a mix of supportive housing for special needs and homeless tenants, as well as affordable housing for low- to moderate-income households.
T-Building will offer on-site social services, two community rooms, a restored library and computer room, an exercise room, a laundry room, indoor bicycle parking, roof terraces, and an outdoor children’s play area. The site also includes a surface parking lot with approximately 100 spaces.
“We are proud to continue supporting projects that allow homeless families to live in dignity,” said Merchants Capital executive vice president Mathew Wambua. “Securing the largest allocation ever made in New York City is a great achievement for the development team and we look forward to assisting with projects that serve an immediate need in our community.”