Arker Cos. Breaks Ground on NYC Affordable Housing Project
The company sold 10 of the 11 building sites at Edgemere Commons to Tishman Speyer last year.
Image by StockSnap via Pixabay.com
A joint venture between the Arker Cos. and Slate Property Group has broken ground on the first building at Edgemere Commons, a $100 million affordable housing community in New York City’s Queens borough.
The entire project will comprise 11 buildings and is expected to provide more than 2,000 units, create jobs as well as bring open space and retail to the local community.
The Arker Cos. sold the remaining 10 building sites of Edgemere Commons to Tishman Speyer, for $90 million, according to a November 2021 New York YIMBY article, which also cited Aufgang Architects as the architect of the properties.
An affordable option in Queens
This first building will feature 194 units. The 17-story property is expected to include 29 units set aside for individuals with intellectual and developmental disabilities, as well as 30 units for adults dealing with homelessness. After Hurricane Sandy, the Edgemere Commons development plan also has resiliency measures to protect Far Rockaway from future storm events.
Located at 51-23 Beach Channel Drive, the community will be less than half a mile northwest of Far Rockaway – Mott Ave., subway station. A good number of retail, dining and entertainment options will be available within a 1-mile radius.
According to Yardi Matrix data, 200 units at Edgemere Commons will be set aside for seniors. The master project also includes 72,000 square feet of retail. A total of 973 parking spaces will also be available, according to the same data provider.
