Fantastic.
https://qns.com/2022/01/phipps-house...g-development/
Phipps Houses announced on Thursday, Jan. 6, the closing on $116 million in financing for the fourth phase of its massive Rockaway Village affordable housing project in the heart of Far Rockaway.
The development is transforming an abandoned shopping center into permanently affordable housing, public space and retail across Mott Avenue from the Far Rockaway A Train subway and across Nameoke Avenue from the Far Rockaway LIRR station.
“Phipps Houses is committed to building affordable homes that allow families to stay and grow in their communities while strengthening their neighborhood connections for future generations,” Phipps Houses President and CEO Adam Weinstein said. ‘The financing of this phase helps us get another step closer to fully realizing the nearly 1,700 units of affordable housing in Far Rockaway with new commercial and community spaces to complement the neighborhood.”
Financing was provided by the city’s Department of Housing Preservation and Development and the city’s Housing Development Corporation.
This phase of Rockaway Village will include two mid-rise apartment buildings with 184 affordable units available for families earning between30 and 70 percent of Area Median Income with 15 percent of the units set aside for households who are formerly homeless. Construction will begin this month with an expected completion in early 2024.