TS Communities, Tishman Speyer’s affordable housing development platform, will soon break ground on the second 100-percent affordable development in Edgemere Commons in Edgemere, Queens. Designed by Aufgang Architects, the master plan will eventually comprise 11 income-restricted residential properties.
“From new libraries and healthcare facilities to thousands of units of affordable housing, including more than 2,000 units here at Edgemere Commons alone, the [Rockaway] peninsula will soon be a nationwide model for community-led, community-centric development that puts families first,” said Queens borough president Donovan Richards Jr. “Brighter days are ahead for Edgemere and all of Rockaway, and I cannot wait to see shovels in the dirt in a matter of weeks.”
Located at the corner of Beach Channel Drive and Beach 52nd Street, the 247,000-square-foot building will encompass 237 apartments. Floor plans will range from studios to three-bedroom units.
As an income-restricted property, 201 apartments will be designated for individuals and households earning between 30 percent to 80 percent area median income, plus 36 apartments with supportive housing for the formerly homeless. Additional components will include 8,000 square feet of neighborhood-serving retail and 7,500 square feet of community facility space.
The new property is expected to open in 2025. To complete the building, TS Communities secured $196.8 million of financing that includes a mix of tax-exempt bonds, traditional construction debt, subsidy loans from the New York City Department of Housing Preservation and Development and the New York City Housing Development Corporation, and low-income housing tax credit equity. This figure includes $138.6 million from Wells Fargo.
Aerial view of Edgemere Commons – Aufgang Architects
Aerial view of publicly accessible outdoor spaces at Edgemere Commons- Aufgang Architects
Street view of Edgemere Commons – Aufgang Architects
When complete, the entire complex will comprise 2.2 million square feet and create 2,050 apartments, including 237 that will be set aside for seniors. Additional components include 973 parking spaces, 38,000 square feet of publicly accessible open space, 77,000 square feet of community space, and 72,000 square feet of neighborhood-oriented retail including a supermarket, a fitness center, food and beverage destinations, and general retail.
“Edgemere Commons will bring much-needed affordable housing, along with retail and community facility space, all in a building designed to bring greater resiliency to the Far Rockaway community,” said HDC president Eric Enderlin. “I would like to congratulate to all our partners and look forward to continued collaboration as we bring this transformative project to fruition.”
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1000 parking spaces? Just why?
should nyc taxpayers support car ownership?
Adding a 1000 car parking garage means 1000 more cars on the street
No, no—people don’t get a new apartment and buy a car! These <1000 cars already exist, are already on the streets! Welcome to the United States! 🇺🇸
Hello my husband and I are looking for a one bedroom apartment, we’re both seniors & it’s just the two of us! We’re looking forward to moving around September 2023
Hopefully they start building these small residential buildings with union labor. They need to help out those that built and made this city what it is today. Too much non union residential buildings going on across all the 5 boroughs and it’s hurting the NYC union trades that always have done the right job for many years. I really hope Tishman plans to use union contractors for this job.
Is it all electric? Is it passive built?
Sea levels are rising much faster than had been projected.