Housing Development

Margert Community Corporation serves as the nonprofit community sponsor of housing development for low and moderate income families, tenants with special needs and the low income elderly.

The NYC Housing Partnership has joined with the City's Department of Housing Preservation and Development (HPD) and New York State's Affordable Housing Corporation (AHC) to encourage private development of affordable housing through the Partnership's New Homes Program. The purpose of the program is to expand homeownership opportunities for low and moderate income families with incomes up to $75,000 and facilitate private sector and community involvement in project development.

The marketing of the homes to purchasers is carried out by local not-for-profit organizations which advertise the availability of the homes and review applications. Click here for HPD's lists of homes.

Arverne by the Sea

In 2001, Benjamin-Beechwood, LLC was selected by HPD as developer of the Arverne Urban Renewal Area. As part of its proposal, Benjamin-Beechwood plans to develop as many as 2,300 residential units in a mix of one- and two-family homes with some mid-rise apartment buildings, as well as up to 250,000 square feet of commercial/ retail space, an approximately 30,000 square-foot community recreation center, and a charter school for up to 800 K-8 students. Benjamin-Beechwood proposes to privately-finance the improvements.

In 2006, Margert Community Corporation was enlisted to assist in fulfilling Benjamin-Beachwood's commitment to an affordability component in the newly constructed condominium developments at Arverne by the Sea.

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Ocean View Villas at Rockaway Beach

Developed by The Hudson Companies, Inc., Phase II of the Edgemere Urban Renewal Area gave us a new residential development of 142 newly constructed housing units comprised of eighty-two (82) single family homes and thirty (30) two family homes. The homes are situated over parts of eight city blocks and are arranged in detached, semidetached and fully attached configurations, located along Beach Channel Drive and Rockaway Beach Boulevard between Beach 40th Street and Beach 45th Street.

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Ocean Pointe at Bayswater

Phase I of the new construction in the Edgemere Urban renewal Area consisted of 78 units, mostly 2-family, between Beach 35th and Beach 39th Streets on the bay side of the peninsula.

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Wavecrest II

Completed in early 2001, this new construction of a 122 unit multi-family building for low to moderate-income households, near the boardwalk and beach on Beach 24th Street, represents a unique opportunity for affordable housing in Far Rockaway.

Financed through a combination of tax-exempt bonds, low-income housing tax credits and a HTFC low-interest loan, this building serves as an extension to the existing buildings at Wavecrest, with more affordable rents for income-eligible tenants. Fifty percent of the units were "set-aside" for "special needs" households.

This financing was made possible through application to the competitive unified funding process for capital projects with NYS HOME funds.

The combination of a responsible developer with a respected community-based organization has garnered an unusually high level of support from the Rockaway community for this project.

Contact Wavecrest Gardens

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