Jamaica

T Building (Merchants Capital / Dunn Development Corp.)

Merchants Capital to Redevelop Former Triboro Hospital Into Supportive Housing in Jamaica, Queens

Merchants Capital recently secured funding to redevelop a historic hospital structure in Jamaica, Queens into low-income and supportive housing. The announced funding package amounts to $21 million in the form of a Freddie Mac unfunded forward Low-Income Housing Tax Credit (LIHTC) cash loan on behalf of private affordable housing developer Dunn Development Corp.

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Illustration of the Northwest Corner of the JFK Buildout Site

Cuomo Issues RFI for Port Authority’s Redevelopment of JFK Central Hub

Governor Andrew Cuomo has announced a call for ideas in the redevelopment of John F. Kennedy International Airport. The invitation for a request for information by the Port Authority of New York and New Jersey is for the design and development of JFK Central, a roughly 14-acre, mixed-use space within the complex. This is the latest step in Governor Cuomo’s $13-billion plan for the redesign of JFK, which includes two new international terminals with modern passenger amenities, user-friendly ground transportation options, and improved roadway infrastructure to accommodate a projected increase of at least 15 million passengers per year.

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