2013 - Collaboration Award

This former commercial laundry and gas station/auto repair site was developed by The Arker Companies and remediated under the New York State Brownfield Cleanup Program.  The property, located in Richmond Hill, Queens, is now occupied by a six-story, 65-unit building set aside for seniors, with 20 percent of the units set aside for formerly homeless households.  The project was developed through a 50-year regulatory agreement with NYS HCR, using a complex network of funding sources including NYCHDC, NYCHPD, NYSERDA, NYSHCR, Bank of America, and deferred developer fees.  The project also received NYS brownfield tax credits.  Coordinating these multiple funding sources involved a combination of timing and balancing, requiring the development team to track and meet all submittal requirements and deadlines.