Foxy Development and Selfhelp Realty Begin Construction on 0 Million Affordable Housing Project in Queens

Affordable Housing Initiative Breaks Ground in Queens: The Perennial Project

NEW YORK CITY — In a significant stride toward addressing the affordable housing crisis, the partnership between local owner-operators Foxy Development and Selfhelp Realty Group has officially broken ground on The Perennial, a 0 million housing project located in the historically affluent Forest Hills neighborhood of Queens. This initiative marks a critical conversion of the former Parkway Hospital, which had remained derelict since its closure in 2008.

The Perennial will offer a total of 145 housing units, with a primary focus on senior living. Of these, 124 units are dedicated to seniors, including 44 units specifically reserved for formerly homeless individuals. The project also allocates a portion of the units for families, ensuring a diverse community that supports those in need. All housing within The Perennial will cater to households earning 50 percent or less of the area median income (AMI), underscoring the project’s commitment to creating affordable living spaces in a rapidly gentrifying urban landscape.

The development is being brought to life with the expertise of several notable partners. Architect Newman Design has crafted the vision for the project, while Cityscape Engineering and Suffolk Construction take on the construction and engineering responsibilities. MEP engineering is being managed by Mottola Rini, ensuring that modern sustainable practices are integrated throughout the development. Financing for the construction has been secured through TD Bank, with The Community Preservation Corporation stepping in to provide permanent financing solutions.

The need for affordable housing in New York City has reached an urgent state, exacerbated by rising property values and a growing demand for accessible living spaces among low- and middle-income families. Projects like The Perennial are essential not only for meeting housing demands but also for revitalizing underutilized properties that contribute to the community’s fabric.

Construction on The Perennial is expected to be completed by late 2027, with project leaders emphasizing their dedication to both quality and speed in the build process. This venture not only represents a new chapter for the site of the former Parkway Hospital but also serves as a hopeful model for future developments aimed at preserving the social diversity that is a hallmark of New York City’s neighborhoods.

As the project progresses, stakeholders remain committed to keeping the community informed and engaged, ensuring that The Perennial becomes a cornerstone of support for vulnerable populations in Queens while setting a precedent for affordable housing efforts across the city.