Construction is set to begin this month on Edgemere Commons Building A2, an 18-story 100% affordable housing building with 244 units at 337 Beach 52nd St. in Far Rockaway.
This will be the second building by Tishman Speyer at Edgemere Commons. A third building, developed by Arker Companies and Slate Property Group, was completed in 2024. In addition to the 244 income-restricted apartments, Edgemere Commons Building A2 will also feature retail space on the ground floor. The construction of this building will mark the completion of the first full block of this redevelopment project.
The residences will range in size from studios to three-bedroom units. Households that earn 40%-80% of the area median income will have an opportunity to move into 171 of the units. The other 73 apartments will be set aside for supportive housing, operated by Breaking Ground, a nonprofit social services organization dedicated to providing homeless individuals with high-quality permanent and transitional housing.
Among the amenities expected to be available to residents are a resident community room, a laundry room, landscaped outdoor areas, including a sky deck with ocean views on the 14th floor, on-site parking and supportive service officers.
The construction of Edgemere Commons Building A2 is backed by $166 million in total financing, with the New York State Division of Homes and Community Renewal providing much of the funding. A construction period letter of credit will be provided by Citi Community Capital. Equity investment will be offered by Hudson Housing Capital through the sale of low-income housing tax credits. Aufgang Architects designed the building and TS Communities developed it.
Edgemere Commons Building A2 will mark the third multifamily structure to be built. TS Communities intends for the entire Edgemere Commons project to consist of 11 newly developed buildings and 2,050 apartments, all of which would be affordable, including at least 237 for seniors. Construction of the last building is expected to be completed in 2031.
