LISC NY and MURAL Real Estate Partners have successfully secured a $24.7 million loan from NYCAF to revitalize the vibrant community of Jamaica, Queens. The development project, located on Hillside Avenue, will bring 230 affordable homes and 20,000 square feet of retail space to the area.
MURAL Real Estate Partners is committed to empowering communities through transformative developments. This significant loan was facilitated by LISC NY and has received endorsements from key figures such as Queens Borough President Donovan Richards Jr., Council Members James F. Gennaro and Nantasha Williams.
According to Valerie White, senior executive director of LISC NY: “This investment in Jamaica represents another opportunity for improving the lives of underserved New Yorkers while revitalizing an underrepresented community.”
The project marks a major step towards promoting sustainable growth in Jamaica without compromising its rich cultural heritage. It is expected that this development will have a positive impact on both residents and businesses in the area.
The post titled “LISC NY & MURAL Partner for $25M Loan Bringing Affordable Homes & Retail Space” originally appeared on Connect CRE.
