A mixed-income residential project is moving forward in Jamaica, Queens after the closing of a $303 million construction financing package.

The Archer Towers II, which will be located at 163-25 Archer Avenue, calls for the construction of a 22-story, approximately 353,000-square-foot building building featuring 400 apartments above 2,164 square feet of ground-floor commercial space and a 67-car garage. The project will include a mix of studio, one-, and two-bedroom units serving households earning between 40 and 110 percent of area median income, including 60 apartments designated for formerly homeless residents.

“As the city continues to face significant pressure on its housing supply, Archer Towers II represents a major investment in the future of Jamaica and its rapidly growing residential core,” said Andy Cohen of BRP Companies, which is developing the project. “As our fourth development in the neighborhood, this project reflects our long-term commitment to Jamaica and our belief in its continued momentum, delivering fair, scalable access to quality housing and deepening our role as a partner in the community’s growth.”

According to a news release from the New York City Housing Development Corporation, Archer Towers II will include amenities such as a lounge, a gym, a children’s playroom, and coworking space.

Financing sources for the project include multiple public and private partners. The capital stack includes tax-exempt bonds issued by the New York City Housing Development Corporation, subsidies from the New York City Department of Housing Preservation and Development, and Low-Income Housing Tax Credit equity. Wells Fargo is serving as both the letter of credit provider and the tax credit equity investor.

Construction of Archer Towers II is scheduled to begin in the first quarter of 2026, with completion anticipated in 2028.

The initial Archer Towers development is a 24-story building located on a nearby site at 163-05 Archer Avenue.