HPD hails rezoning that will add over 1000 homes to Rockaways – Real Estate Weekly

The New York City Department of Housing Preservation and Development (HPD) announced financing of 793 new affordable homes in the Downtown Far Rockaway area of Queens.

The homes add to the 590 new construction units financed in the area since the New York City Council voted in favor of a neighborhood rezoning in Far Rockaway in September 2017.

The newly financed affordable housing units will be spread across three projects RadRoc, Beach 21, and Rockaway Village Phase II. Upon completion, the units will be affordable to households earning a wide range of incomes, including the formerly homeless, extremely low- to moderate-income New Yorkers.

Downtown Far Rockaway has been overdue for strategic investments and careful planning for far too long. Today we announce the coming of nearly 800 new, true affordable housing opportunities. This is in addition to the 590 affordable homes weve financed since 2017, and will go hand in hand with economic and structural developments led by EDC and informed by the community, said HPD Commissioner Louise Carroll.

I want to thank Council Member Donovan Richards for his enthusiastic leadership, as well as our colleagues at NYCEDC for their partnership, and I look forward to seeing a new future in the Rockaways unfold.

The RadRoc development will be constructed on a private site and will include a total of 253 new affordable apartments across two 10-story buildings in Downtown Far Rockaway.

Financed through the Extremely Low- and Low-income Affordability (ELLA) program, 10 percent of these units will be set-aside for formerly homeless households. 133 units will be affordable permanently.

19-38 Cornaga Avenue will be a steel and plank building with a total of 173 rental housing units, including one superintendents unit, and over 14,400 square feet of commercial space.

10-18 Beach 20th Street will be a modular construction building that includes 80 rental housing units, approximately 5,600 square feet of commercial space, and 3,400 square feet of community facility space.

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HPD hails rezoning that will add over 1000 homes to Rockaways - Real Estate Weekly