2002-02-16 / Community

Margert Brings New Homes To Edgemere

Margert Brings New Homes To Edgemere

Activity, characterized by uncertainty, anticipation and hope, Margert Community Corporation has signed a marketing services agreement with the NYC Housing Partnership (NYCHP) for Phase I of the new home construction within the Edgemere Urban Renewal Area.

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.

Margert's familiarity with the needs of our local residents and aggressive homeownership educational services were essential to its selection as community sponsor. Under the terms of the marketing agreement, Margert will be responsible for outreach to other community organizations and prospective home purchasers, monitoring homeowner complaints and owner-occupancy for the 10-year regulatory term, and providing consistent support efforts to insure the project's success.

R. Randy Lee, president of Leewood Real Estate Group and widely recognized as one of the most active and experienced low-rise housing builders and developers in the city, was selected as the developer for the project through the city's vigorous and competitive Request for Qualifications (RFQ) process. Involved in every phase of the NYC real estate and building business for over thirty-five years, Mr. Lee has been a principal in the planning, site development and/or construction of over 4,000 market rate and affordable residential units.

"Margert has been working closely with HPD since the original urban development plan was released almost ten years ago," says Joseph Barden, executive director. "We are confident that all our concerns about quality, design and affordability have been answered with the selection of Randy Lee as developer."

The actual implementation of this plan, long on the drawing boards, has validated the aggressive homebuyer education efforts Margert began at the same time. "Our primary concern is now, and has always been, that Rockaway residents would be in a position to benefit from any new housing development on the peninsula," says Stephanie Lawes, director of homebuyer education at Margert. "Education is even more critical for our residents who can benefit most from affordable and energy efficient housing."

Phase I of the new construction will consist of 79 units, mostly 2-family, between Beach 35th and Beach 39th Streets on the bay side of the peninsula. The infrastructure work has been in progress for some time, and the actual home construction should begin by early spring.


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