The grand opening of The Monarch, a 25-story mixed-use development in Downtown Jamaica, Queens was recently celebrated by BRP Companies, public officials and project partners. This impressive building boasts 605 units and spans over 542,000 square feet. Construction on this project began in 2021.
Meredith Marshall, co-founder and managing partner of BRP Companies expressed pride in contributing to the vibrant culture and growth trajectory of Jamaica as they unveil their third major development in the area. With much-needed workforce housing now available at the heart of downtown Jamaica thanks to The Monarch’s opening, it is expected to have a positive impact on the community.
The Monarch offers a mix of affordable and market-rate residences totaling up to 605 units. Goldman Sachs Alternatives’ Urban Investment Group provided financing for its construction while also helping raise Opportunity Zone equity for this project. This investment aligns with Goldman Sachs’ One Million Black Women initiative which aims to drive economic opportunity for at least one million Black women by investing $10 billion by year 2030.
