The Greater Jamaica Development Corporation announced plans for a $200 million transformative mixed-use development of more than 500,000 square feet in Jamaica. The developer said that the project, dubbed Arras, will create the first ever income based homeownership opportunity, along with more than 300 income-based rental units.
The project will be completed in partnership with Gotham Organization, Monadnock Development and Moses Sole Realty.
According to a news release from the developer, Arras will replace an existing five-level parking garage owned by GJDC on 90th Avenue between Parsons Boulevard and 160th Street. It will include two separate income-based residential buildings: a 14-story building with 72 units priced at market value and another 14-story building with 353 income-based rental apartments.
“For decades, there has been substantial demand for condo ownership as Jamaica’s revitalization took shape,” said Justin Rodgers, president and CEO of GJDC. “We are thrilled to partner with Gotham, Monadnock and Moses Sole in creating a crucial bridge for generational wealth through homeownership. Arras will be the first of its kind in downtown Jamaica and serve as a cornerstone of our neighborhood’s future.”
In addition to creating housing opportunities, GJDC said Arras will include parking, 5,000 square feet of retail and 1,450 square feet of community-use space. The joint venture partnership intends to deliver critical new housing to the borough, according to GJDC.
Together, Gotham and Monadnock have developed more than 800 income-based residences, with 900 additional residences currently in development in various stages of construction. Moses Sole and GJDC said they will use their Minority and Women-Owned Business Enterprise resources and local insight to the development.
Construction is expected to begin with the demolition of the existing garage in late 2026.
“Arras continues Gotham’s mission to not only add supply, but to foster opportunity, equity, and connection for New Yorkers,” said Bryan Kelly, president of development at Gotham. “This project will deliver both affordable rentals and attainable homeownership, along with vibrant retail and community space. We look forward to demonstrating how thoughtfully designed, sustainable and community-centric development can help strengthen neighborhoods and provide lasting pathways for families to thrive.”
The NYC Council is expected to approve the Jamaica Neighborhood Plan — a 230-block rezoning — later this month. The project aims to expand development potential, unlock new economic opportunities and upgrade infrastructure across the area.
Greater Jamaica Development Corporation, formed in 1967 and based in Jamaica, is a community-development organization that plans, promotes, coordinates and advances development to revitalize the region. Over the past decade, GJDC has expanded services to support local businesses with financial assistance, personalized technical support and access to resources and growth opportunities.
Gotham, a family-owned real estate development and property management firm, has over 112 years of experience constructing and developing mixed-use buildings throughout New York. After Gotham completes development and construction, the firm’s in-house property management division transitions to community management, aiming to boost communities in the neighborhoods it builds in.
