The Northeastern Tower Annex. Image Credit: HPD
The building provides much needed affordable housing for seniors. On July 21, 2021, the Department of Housing Preservation and Development (HPD), other City and elected officials, community leaders and others participated in a ribbon-cutting ceremony for Northeastern Towers Annex at 161-11 132nd Avenue in Jamaica, Queens. Northeastern Towers Annex is a 159 affordable-unit development for seniors.
The building features 58 studios, 100 one-bedroom apartments, and one two-bedroom superintendent’s apartment. The building has several amenities, including a community room, media room, exercise and wellness center, social service office suite, warming pantry and storage, television lounges, computer room, a rooftop terrace and garden, and a personal care services room. There are additional amenities at the current Northeastern Towers, which has an enclosed connection to the Annex. Many of the amenities in the Annex will also be accessible to residents of the Tower.
The building is 100 percent affordable for seniors at or below 50 percent AMI. All of the apartments are supported by a project-based Section 8 contract where tenants are responsible for 30 percent of their income in rent.
The project was financed through HPD and the NYC Housing Development Corporation (HDC) through public and private investment for $93.6 million. HDC provided over $50 million in tax-exempt bonds and $8.7 million in corporate reserves. HPD provided over $13 million in subsidy. The project received Low- Income Housing Tax Credit benefits of over $37 million in tax credit equity through Wells Fargo. Former Queens Borough President Melinda Katz provided $3 million, Council Speaker Johnson and Council Member Adrienne Adams provided $1 million in discretionary capital funding.
HPD Commissioner Louise Carroll stated, “Through Your Home NYC, we are delivering on our promise to put seniors first and create deeply affordable housing with on-site services to help them age with dignity. What was once an underutilized lot is now 158 new affordable apartments and 4,000 sq ft of community space, thanks to a strong coalition of our non-profit, faith-based, and private partners. To all the new tenants at Northeastern Towers Annex, welcome home!”
Current Queens Borough President Donovan Richards Jr stated, “No senior should ever be priced out of the neighborhood they love and proudly call home. With the opening of the Northeastern Towers Annex and its more than 150 apartments for our elders living on low or fixed incomes, we are ensuring that those who need quality affordable housing the most will have it right here in the heart of Southeast Queens. With more than 300,000 seniors living here in The World’s Borough, we look forward to many more such ribbon cuttings as we work tirelessly to make Queens an affordable place to live for all, but especially our seniors seeking the ability to age gracefully and with dignity.”
By: Veronica Rose (Veronica is the CityLaw fellow and a New York Law School graduate, Class of 2018.)