Mixed-Income Housing Development in Astoria, Queens

On behalf of two developers, JLP+D served as the project lead for financial feasibility and investment return analysis for a one million square foot mixed-income residential development. JLP+D built a dynamic development pro forma model capable of analyzing different density scenarios, rezoning options and building configurations, and accounting for income levels permissible under the City’s Mandatory Inclusionary Housing (MIH) Program. JLP+D served as an advisor on policy matters, including the State’s 421a tax exemption program and other entitlement issues. Additionally, to allow buildings within the master development site to be sold separately, JLP+D performed analysis that allowed for all proposed buildings to be valued independently.