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**Archer II Secures $303M in Construction Financing for Major Mixed-Income Development in Jamaica, Queens**
The New York City Housing Development Corporation, the New York City Department of Housing Preservation and Development, Wells Fargo Bank, Wells Fargo Community Investment Holdings, and BRP Companies have announced the closing of $303 million in construction financing for Archer II. This 22-story, 353,000-square-foot mixed-income housing project will deliver 400 residential units in the heart of Downtown Jamaica, Queens, at 163-25 Archer Avenue.
“As the city continues to face significant pressure on its housing supply, Archer Towers II represents a major investment in the future of Jamaica and its rapidly growing residential core,” said Andy Cohen, Managing Director of BRP Companies. “As our fourth development in the neighborhood, this project reflects our long-term commitment to Jamaica and our belief in its continued momentum, delivering fair, scalable access to quality housing and deepening our role as a partner in the community’s growth.”
Construction on Archer II is slated to begin in the first quarter of 2026, with project completion projected for 2028.
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