As the real estate recovery takes hold, the outer edges of the outer boroughs are starting to see more construction activity. While not as trendy as neighborhoods in western Brooklyn and Queens, areas like eastern Queens, southern Brooklyn, and the northern Bronx are strongholds of middle-class New Yorkers, and are home to some of the most affordable new market-rate construction in the city.
TCX Development has been particularly active in the neighborhoods north of downtown Jamaica, which are desirable enough to merit new construction but not so gentrified as to be completely unaffordable to the middle class. In August, they shared with YIMBY a rendering of their 190-11 Hillside Avenue project – one of the first, if not the first, market-rate residential project to break ground in Jamaica since the 2007 rezoning.
Construction on that building is wrapping up, but now TCX has shared an updated rendering for another project they’re about to break ground on in the area: 177-30 Wexford Terrace, an eight-story building in nearby Jamaica Estates, a 35-minute ride on the F train to Midtown.
Also designed by DeFonseca Architects, the look is modern but staid, with inset balconies. The façade is unsullied by PTAC grills below the windows (this project and the one discussed below will have mini-splits or central air), giving it a clean look that’s difficult to find even in much higher-priced rentals in Manhattan and on the Brooklyn and Queens waterfronts.
The building will will have a walk-in healthcare facility on the ground floor, topped by 54,000 square feet of residential space with 68 apartments, ranging from studios to two-bedrooms. Pricing will depend on where the market goes in the time between now and when the building opens, but TCX’s Joshua Asherian told us that they’re planning for monthly rents that start at $1,550 for the studios, $1,750 for the one-bedrooms, $2,200 for the two-bedroom units, and $2,600 for the penthouses. There will be 47 parking spaces in total, and a rooftop terrace for all tenants in addition to the individual balconies.
A few lots down, TCX is also preparing to break ground on a smaller project, at 177-16 Wexford Terrace. That eight-story building will have 20 apartments spread over nearly 18,000 square feet of residential space, largely consisting of one-bedroom rentals. The designer is Frank Petruso Architect, and the façade will also have a modern look and no unsightly PTAC units. The new building permit indicates that three open air parking spaces will be provided, though according to zoning, none are required.
Demolition of the old single-family home at No. 177-30 (which TCX picked up for $3.45 million, or around $55 per buildable square foot) is complete, and groundbreaking for the new building should occur within the next two to three months, after which the building will take 14 to 18 months to build and lease up, according to Asherian. No. 177-16 (purchased for $800,000 last year, or around $40 a buildable square foot) should be completed on a similar timeframe, if not a few months earlier.
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