BRP Companies today announced the firm has secured construction financing for 90Ninety, a mixed-income housing development located at 166-20 90th Avenue in Jamaica, Queens. Construction on the $378 million project has commenced and is slated for completion in Fall of 2025.
Upon completion, 90Ninety will deliver 614 residential units to the Downtown Jamaica community, ranging in size from studios to two-bedroom apartments. A total of 185 of the 614 units will be affordable, available to residents earning 80 percent and 130 percent of the area median income (AMI).
“We’re thrilled to be celebrating this milestone today as we move one step closer to delivering 90Ninety to the downtown Jamaica community,” said Meredith Marshall, Co-Founder & Managing Partner of BRP Companies. “90Ninety will provide the local community with workforce housing options, with great amenities, retail, and community space, further adding to the neighborhood’s rapidly growing and vibrant character.”
Basis Investment Group, through its Funds platform, is investing in the project with BRP Companies. Tammy Jones, CEO and Founder of Basis said, “As someone who grew up in affordable and workforce housing in South Jamaica Queens, I couldn’t be more excited and proud to be involved in this groundbreaking project.”
In addition to the residential portion of the project, 90Ninety will deliver 15,000 square feet of amenity spaces, featuring a rooftop lounge, state-of-the-art fitness center, co-working spaces, resident lounge, outdoor courtyard and green spaces, half basketball court, a children’s playroom, pet facilities and an attended lobby, as well as 25,000 square feet of retail and 5,000 square feet of community facility spaces on the ground-floor.