Tishman Speyer to Build Second All-Affordable Residential Building in Far Rockaway
Tishman Speyer’s TS Communities has announced that construction will begin in July on a 13-story, 100% affordable apartment building at Edgemere Commons in Far Rockaway, Queens.
The building will feature 237 apartments, ranging from studios to 3-bedrooms, with 201 units designated as affordable for households earning between 30% to 80% of Area Median Income (AMI). Additionally, 36 apartments will provide supportive housing for formerly homeless individuals. The project will also include neighborhood-serving retail and community facility space.
The building is expected to be completed in 2025. This is the second of eleven all-affordable multifamily buildings planned for Edgemere Commons, with a total of 2,050 apartments upon completion. The project has secured financing from various sources, including tax-exempt bonds, construction debt, subsidy loans, and low-income housing tax credits.
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