The affordable housing lottery has launched for Federation Nameoke Apartments, a nine-story residential building at 20-50 Nameoke Avenue in Far Rockaway, Queens. Designed by Urban Architectural Initiatives and developed by Federation Nameoke Housing Development, the structure yields 117 residences. Available on NYC Housing Connect are 45 units for residents at 60 percent of the area median income (AMI), ranging in eligible income from $35,040 to $91,500.
The Community Lending and Investment division of Wells Fargo has reached a new milestone, $780.3 million in construction financing for affordable housing projects in New York City and Westchester County. The figure represents five loans, all closed in June 2023, the company’s largest-ever half-cycle allocation.
Permits have been filed for a three-story residential building at 22-78 Mott Avenue in Far Rockaway, Queens. Located between Gipson Street and McBride Street, the lot is near the Far Rockaway – Mott Avenue subway station, serviced by the A train. Oran Revivo under the 2278 Mott Avenue LLC is listed as the owner behind the applications.
L+M Development Partners, Triangle Equities, and The Bluestone Organization have closed on a $95.7 million loan to complete Beach Dunes III, a mixed-use affordable housing property on the border of Edgemere and Far Rockaway in Queens. Located at 331 Beach 35th Street, the building will include 146 mixed-income apartments, 2,100 square feet of commercial space, and a 1,160-square-foot community center.
Elected officials and developers recently gathered to celebrate the commencement of construction at 13-12 Beach Channel Drive in Far Rockaway, Queens. Designed by Urban Architecture Initiatives and developed by BRC and Camber Property Group, the eight-story property will include a mix of 147 deeply affordable units, 100 shelter units with supportive services, tenant amenities, and a community facility.