Slate Property Group and RiseBoro Community Partnership have completed the acquisition of the former JFK Hilton Hotel at 144-02 135th Avenue in South Jamaica, Queens, paving the way for a landmark affordable housing project. This initiative marks the first-ever conversion of a former hotel into permanently affordable housing under New York’s Housing Our Neighbors with Dignity Act (HONDA).
Rendering of apartment at Baisley Park, courtesy of Slate Property Group
The project, named Baisley Pond Park Residences, plans to transform the hotel into 318 apartments for low-income and formerly homeless New Yorkers. With a focus on rapid construction, the development is expected to be completed in just 21 months, significantly faster than the 36 months typically required for ground-up construction. This accelerated timeline is made possible by utilizing the hotel’s existing layout, requiring only selective changes to internal walls.
Rendering of typical residential floor at Baisley Park, courtesy of Slate Property Group
Originally built in 1987, the JFK Hilton hotel is located near John F. Kennedy International Airport. Post-conversion, all apartments will feature full kitchens, ADA-compliant bathrooms, and building amenities like community rooms, a computer lounge, a fitness room, and on-site laundry. The building will also feature a stunning indoor-outdoor garden space designed by landscape architecture firm OSD.
Rendering of residential unit at Baisley Park, courtesy of Slate Property Group
In line with sustainability goals, Slate will replace major building and mechanical systems, including installing new all-electric heating and cooling systems and rooftop solar panels. The project, designed by Aufgang Architects, will be certified by Enterprise Green Communities.
Rendering of lobby elevators at Baisley Park, courtesy of Slate Property Group
RiseBoro Community Partnership will manage the building long-term, with funding through the Department of Social Services’ Affordable Housing Services Program. This approach will also provide on-site support and services for residents transitioning from homelessness to permanent housing. The former hotel’s commercial kitchen will be converted to support RiseBoro’s Meals on Wheels program.
Rendering of entry mail area at Baisley Park, courtesy of Slate Property Group
The total development cost, including acquisition, of Baisley Pond Park Residences is projected to be $167 million, with significant funding through the HONDA program and contributions from various city agencies and private lenders.
“Creativity is necessary to fill New York City’s need for affordable housing and, with Baisley Pond Park Residences, all parties involved have met that challenge,” said Scott Short, CEO of RiseBoro Community Partnership. “We’re thrilled to be a part of the first successful hotel conversion in New York and look forward to taking another step in bringing affordability and access to the people of this city.”
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This is a really great project. But this existing building “utilizing the hotel’s existing layout” will still cost $525,000 per unit?!
The corrupt insanity of NY never fails to disgust.