September 26, 2025

Housing Finance Development

It's Your Housing Finance Development

Construction Begins On The Perennial, A 0 million, 145-unit Intergenerational Housing Development In Forest Hills

Construction Begins On The Perennial, A $150 million, 145-unit Intergenerational Housing Development In Forest Hills

The joint venture partnership of Foxy Development and Selfhelp Realty Group has closed on financing and begun construction of The Perennial, a 145-unit intergenerational affordable housing property that will also include the future home of the Forest Hills Jewish Center (FHJC). The project team and public officials held a “glass-breaking” ceremony to celebrate the beginning of redevelopment and renovation. The Perennial is the most complex private-public redevelopment project in New York City’s recent history, and the first deeply affordable senior housing project in Forest Hills. Located at 70-35 113th Street in the Forest Hills section of Queens, the project will transform the former Parkway Hospital building – vacant since the hospital’s closure in 2008 – into a vibrant mixed-use development. Construction is expected to be completed by the end of 2027.

Foxy and Selfhelp are co-developing the project. The team also includes architect Newman Design, structural engineer Cityscape Engineering, general contractor Suffolk Construction, and MEP engineer Mottola Rini. TD Bank provided a construction loan and The Community Preservation Corporation (CPC) will provide permanent financing.

“A long-vacant Parkway Hospital site will now give way to the Perennial and with it 145 affordable homes and a new home for the Forest Hills Jewish Center. An already vibrant community will be made stronger with this mix of intergenerational and accessible housing, a feat that was only possible through thoughtful rezoning and strong partnerships. When we are able to build smart and build in a broader range of communities, we bring meaningful investments that honors our obligation to care for our neighborhoods. The realization of this project shows what’s possible when the government, the community, and private partners work together to deliver for every New Yorker, in every neighborhood,” said Acting HPD Commissioner Ahmed Tigani.

“Once in a lifeline for many in Forest Hills, the old Parkway Hospital site has been nothing but a blighted community eyesore for nearly two decades since its closure. But with the creation of The Perennial and its 145 units of affordable housing, this site will represent promise and potential for Forest Hills families,” said Queens Borough President Donovan Richards Jr. “In this historic affordability crisis facing our city, we badly need the affordable housing and support services offered at The Perennial. I commend all our partners for their work to bring this important project to fruition, and I look forward to seeing so many seniors and families be able to enjoy a roof over their head without having to break the bank.”

“Queens has always been a place where families look out for one another and The Perennial continues that tradition. Affordable housing for older adults is essential to ensuring our borough remains inclusive, vibrant, and livable for working families. I applaud Selfhelp and Foxy Development for helping us meet this urgent need and for engaging local officials and community groups to make sure this project truly benefits the community,” said New York State Senator Leroy Comrie.

“Too many of my constituents worry about whether they can afford to stay in Queens as they age. The Perennial provides an answer by offering affordable homes and support services for older adults. This is the kind of project that keeps our neighborhood whole and maintains the character of our community. I am proud to support it,” shared New York State Assemblymember Sam Berger.

“The project will include a complete interior redevelopment and conversion of the building for senior housing, a vertical two-story addition on top of the existing building, an eight-story addition plus on the north side of the building, a four-story addition on the northwest corner, and various structural reinforcements and revisions of the existing building,” explained Brian Newman, AIA, Principal of Newman Design.

 

 

The Perennial rendering ext. by Newman Design 

Rendering by Newman Design

The Perennial current condition by Peter Wilk 

Photo by Peter Wilk/Wilk Marketing Communications

 The Perennial group shot by Ola Wilk 

Left to right: CPC Managing Director Brendan McLaughlin, CPC; Taylor Jackson, office of US Congresswoman Grace Meng; Mottola Rini Engineers Principal Chris Mottola; Newman Design Project Architect Shahla Nabavi; HPD Deputy Commissioner Kim Darga; Newman Design Principal Brian Newman; Suffolk Construction Project Manager Sean McCloskey; Selfhelp Board Chairman Raymond V.J. Schrag; Selfhelp CEO Stuart Caplan; FHJC Executive Director Debbie Gregor; Shelly Fox, Foxy Management; Rudy Abramov, RJ Capital; Foxy Management Principal Jeff Fox; Rabbi Daniel Graber, FHJC; NYC Deputy Mayor Adolfo Carrion; NYC Council Member Lynn Schulman; Queens Borough President Donovan Richard; NYS Assembly Member Sam Berger; Dr. Ilse Melamid; Selfhelp Realty Group Executive Director Lisa Trub; TD Bank Loan Officer Matt Schatz; NYS Senator Leroy Comrie; Kate Sajduk, Cityscape Engineers Associate Kate Sajduk, P.E.; and Community Board 6 Chair Heather Beers-Dimitriadis and District Manager Christine Dolan.

Photo by Ola Wilk/Wilk Marketing Communications


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