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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).