The New York City Housing Development Corporation, The New York City Department of Housing Preservation and Development, Wells Fargo Bank, Wells Fargo Community Investment Holdings and developer BRP Companies have closed on $303 million in construction financing for Archer II, a 22-story, 353,000 square-foot, 400-unit mixed-income housing development located at 163-25 Archer Ave. in Downtown Jamaica, Queens.
“As the city continues to face significant pressure on its housing supply, Archer Towers II represents a major investment in the future of Jamaica and its rapidly growing residential core,” said Andy Cohen, managing director of BRP Companies. “As our fourth development in the neighborhood, this project reflects our long-term commitment to Jamaica and our belief in its continued momentum, delivering fair, scalable access to quality housing and deepening our role as a partner in the community’s growth.”
Construction is scheduled to begin in the first quarter of 2026, with completion anticipated in 2028.
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