LISC NY, MURAL Land $25M Loan for 230 Affordable Homes

LISC NY and MURAL Real Estate Partners closed a $24.7 million loan with NYCAF to revitalize Jamaica, Queens. The funds will develop two sites on Hillside Avenue, adding 230 affordable homes and 20,000 square feet of retail.

MURAL Real Estate Partners aims to empower communities through transformative developments. The loan, facilitated by LISC NY, is significant for Jamaica’s ongoing development, endorsed by Queens Borough President Donovan Richards Jr. and Council Members James F. Gennaro and Nantasha Williams.

“This investment into this vibrant and culturally rich section of Jamaica represents yet another opportunity to improve the lives of underserved New Yorkers and revitalize an underrepresented community,” said Valerie White, senior executive director of LISC NY.

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Valerie White

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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