BRP Cos. has finalized $303 million in construction financing to move forward with Archer II, a fully affordable, mixed-income residential tower in downtown Jamaica, Queens. The 22-story development will add 400 new apartments and marks the second phase of the broader Archer Towers project, a 1,000-unit mixed-use community in the rapidly growing submarket.
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Located at 163-25 Archer Ave., the 353,000-square-foot project represents BRP’s fourth development in Jamaica and reinforces the firm’s long-term investment strategy in transit-oriented affordable housing across New York City. Construction is slated to begin this quarter, with completion targeted for 2028.
The project’s financing package blends public and private capital sources, anchored by tax-exempt bonds issued by the New York City Housing Development Corp. Additional funding includes a subsidy from the New York City Department of Housing Preservation and Development and equity generated through the Low-Income Housing Tax Credit program.
Wells Fargo, through Wells Fargo Bank and Wells Fargo Community Investment Holdings, is providing both the letter of credit and serving as the tax credit equity investor, underscoring continued institutional interest in large-scale affordable housing developments in New York City.
Archer II will offer a mix of studio, one-bedroom and two-bedroom apartments for households earning between 40 percent and 110 percent of the area median income. Sixty units will be designated as OurSpace apartments, serving formerly homeless individuals and households. These residences will include light-touch supportive services to help residents maintain housing stability.
The building will feature a range of resident amenities, including a lounge, children’s playroom, fitness center and coworking areas. Plans also call for 2,164 square feet of commercial space and 67 on-site residential parking spaces.
Archer II follows the first phase of the Archer development, now known as The Monarch, which dates back to 2020. That initial phase was launched during the height of the COVID-19 pandemic and was considered the largest shovel-ready residential construction site in New York City at the time, earning designation as an essential project due to its delivery of regulated mixed-income housing.
Both Archer phases are located near Jamaica Avenue’s retail corridor and benefit from strong transit connectivity, including multiple subway lines, the Long Island Rail Road station and direct rail access to Penn Station and Atlantic Terminal in Brooklyn.
Beyond Jamaica, BRP Cos. continues to expand its presence across the New York metro area. In mid-2025, the firm joined a public-private partnership to begin construction on the final phase of La Central in the Bronx, a more than 1,000-unit mixed-income development. Phase 2 alone is expected to deliver 420 affordable homes by 2028.
That same year, BRP completed The Leaf in New Rochelle, a 26-story mixed-use tower featuring 477 apartments, extensive amenity space and ground-floor retail and community uses.
Together, these projects highlight BRP’s growing role in delivering large-scale affordable and mixed-income housing across the region at a time of continued pressure on urban housing supply.
Originally reported by Gail Kalinoski in Multi Housing News.
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