BRP Launches Mixed-Income Project in Jamaica
BRP Companies on Tuesday launched work on Archer Towers, a planned 24-story, 542,000-square-foot mixed-use development in Jamaica, Queens. The Urban Investment Group within Goldman Sachs Asset Management provided financing for the construction, which is slated for completion in Spring of 2024. Goldman Sachs also raised the Opportunity Zone equity for the project.
Located at 163-05 Archer Ave., Archer Towers will feature 605 mixed-income residences, 20,000 square feet of amenity spaces and 14,000 square feet of retail space.
Archer Towers marks BRP’s second major development in Jamaica, following the recently completed The Crossing at Jamaica Station, a mixed-income, 669-unit residential building located at 148-10 & 147-40 Archer Ave.
“Much like the Crossing at Jamaica Station, we believe Archer Towers will have a tremendous positive impact on the neighborhood and will add to the vibrancy of downtown Jamaica,” said Meredith Marshall, co-founder and managing partner of BRP Companies.
- ◦Development