BRP Cos. Secures $303M for Massive 400-Unit Affordable Project in Jamaica, Queens
BRP Cos. lands $303M in construction financing for Archer II, a 400-unit fully affordable mixed-use development in downtown Jamaica, Queens.
By: AXL Media
Published: Mar 12, 2026, 7:24 AM EDT
Source: https://www.multihousingnews.com/
A Diverse Capital Stack
The $303 million financing was assembled through a collaborative effort between public agencies and private institutions:
Public Funding: Tax-exempt bonds issued by the New York City Housing Development Corp. (HDC) and subsidies from the NYC Department of Housing Preservation and Development (HPD).
Tax Credit Equity: Low-Income Housing Tax Credit (LIHTC) equity.
Private Lead: Wells Fargo served as the letter of credit provider and the primary investor for the tax credit equity.
Project Specs: Affordability and Resident Services
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