A ribbon-cutting ceremony held earlier this month marks the official debut of the Tree of Life, a new affordable housing development located in the Downtown Jamaica District of Queens.
Located at 89-60 164th Street, the Tree of Life is a 12-story building featuring 174 studio, one-, two-, and three-bedroom apartments, as well as 25,000 square feet of community facilities, resident amenities and services, and parking for 63 vehicles.
As the project was financed through the New York Housing Development Corporation and Department of Housing Preservation and Development's "Mix & Match" program, the units cater to households ranging from the extremely low- to middle-income levels. Additionally, the project team, which includes First Jamaica Community and Urban Development Corporation (FJCUDC) and the Bluestone Organization, will set aside 53 of the apartments as permanent affordable housing.
“Tree of Life combines City investment, innovative programs like Voluntary Inclusionary Housing, and vital federal resources to create 174 affordable homes – a third of which are permanently affordable – in a passive house development that will bring jobs and services to the neighborhood,” said HPD Commissioner Adolfo Carrión Jr in a news release. “Thanks to the First Presbyterian Church in Jamaica and The Bluestone Organization for their partnership and vision in creating lasting affordability and economic opportunity for Jamaica. “
The site benefited from its location within the Downtown Jamaica District, which incentivizes economic development in the area, as well as the creation of affordable housing and the improvement of the pedestrian realm. Additionally, the site sits within walking distance of several subway stations.
The approximately $83-million project relied on several funding sources, including $28 million in total City subsidy, more than $30 million in tax-exempt bonds, and approximately $12.2 million in low-income housing tax credit equity provided by Raymond James.
- Jamaica (Urbanize NYC)