NEW YORK CITY — Queens Development Group, a joint venture between Related Cos. and New York-based Sterling Equities, has begun leasing the first phase of Willets Point Commons, a 2,500-unit affordable housing project in Queens. Phase I of Willets Point Commons comprises two mid-rise buildings housing a combined 880 units, 40 percent of which are reserved for residents earning 60 percent or less of the area median income. Another 15 percent of units are set aside for tenants that formerly experienced homelessness. Amenities include a landscaped inner courtyard, laundry facilities, lounge space with access to outdoor terraces, bicycle storage and ground-floor retail space. Related and Sterling partnered with the New York City Department of Housing Preservation & Development and the New York City Housing Development Corp. on the project. Construction began in December 2023.
In December, the owners of Willets Point Commons in Queens launched a lottery program to signify the start of leasing. Housing available through the lottery ranges from studios to three-bedroom units and is available to households earning between 30 and 120 percent of the area median income.
Related Cos., Sterling Equities Begin Leasing 2,500-Unit Affordable Housing Project in Queens
6