{"id":1004053212,"date":"2011-09-23T06:53:03","date_gmt":"2011-09-23T14:53:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=18341"},"modified":"2022-12-08T19:09:29","modified_gmt":"2022-12-09T03:09:29","slug":"much-needed-housing-for-seniors-and-low-income-families-breaks-ground-in-south-queens","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/much-needed-housing-for-seniors-and-low-income-families-breaks-ground-in-south-queens\/","title":{"rendered":"Much-Needed Housing for Seniors and Low-Income Families Breaks Ground in South Queens"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">In an effort to revitalize a long-vacant site that\u2019s part of the Brownfield cleanup program, the Arcker Cos. broke ground on two housing developments for seniors and low-income families in Richmond Hill. According to the <em>Queens Courier<\/em>, hundreds of construction jobs will be generated by the project. The total development costs for the two complexes\u2014called Richmond Hill Senior Residences and Richmond Place\u2014will be around $54 million.<\/p>\n<p style=\"text-align: justify\">Richmond Hill Senior Living Residences will be six stories tall and will be comprised of 117<\/p>\n<div id=\"attachment_18353\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/Richmond-Hill-Senior-Living-Residences.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-18353\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/Richmond-Hill-Senior-Living-Residences.jpg\" alt=\"\" width=\"300\" height=\"138\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Photo courtesy of The Arker Companies<\/p>\n<\/div>\n<p style=\"text-align: justify\">units for senior residents with incomes below 60 percent of the area\u2019s median income, reports the <em>Queens Courier<\/em>. The 62,500-square-foot development will be financed by state Homes and Community Renewal and Bank of America who, together, will offer $20 million.<\/p>\n<p style=\"text-align: justify\">The 136,300-square-foot Richmond Place is also meant for families with incomes below 60 percent of the area median income. This complex will offer 13 studios, 28 one-bedrooms, 68 two-bedrooms and seven three-bedroom units. One-fifth of the units will serve as shelters for homeless people, while one two-bedroom unit is reserved for the building\u2019s superintendent. The project will be financed by the Housing Development Corporation (HDC), who will offer $17.5 million in tax-exempt bonds. Another $5 million will remain outstanding as a permanent debt to be paid when the transaction becomes permanent, notes the <em>Queens Courier<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nIn an effort to revitalize a long-vacant site that\u2019s part of the Brownfield cleanup program, the Arcker Cos. broke ground on two housing developments for seniors and low-income families in Richmond Hill. According to the Queens [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[],"class_list":["post-1004053212","post","type-post","status-publish","format-standard","hentry","category-new-york","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Much-Needed Housing for Seniors and Low-Income Families Breaks Ground in South Queens - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/much-needed-housing-for-seniors-and-low-income-families-breaks-ground-in-south-queens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Much-Needed Housing for Seniors and Low-Income Families Breaks Ground in South Queens\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor In an effort to revitalize a long-vacant site that\u2019s part of the Brownfield cleanup program, the Arcker Cos. broke ground on two housing developments for seniors and low-income families in Richmond Hill. 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