Arker Opens First Phase of East New York Affordable

The Arker Companies formally opened the first phase of the planned six-building, 1,163-unit, 100% affordable housing development, The Fountains in East New York, to low-income residents.

Phase one has 332 total apartments for New Yorkers making up to $61,440 for a family of three, which is 60% AMI. The buildings include 94 units set aside for those living with disabilities.

“This is just the first two of six buildings, and we look forward to celebrating many more families moving in here over the coming months,” said Alex Arker, principal at Arker Companies.

The Fountains was first announced by Gov. Andrew Cuomo in 2017. The development sits on just under seven acres of land and will ultimately include deeply affordable along with middle-income affordable units, as well as supportive services for seniors and residents with special needs and include commercial and retail space.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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