Area leaders joined developers and financial partners for a groundbreaking ceremony on Tuesday to kick off the construction of the Rufus King Court apartments, affordable housing to be located at 148-19 90 Ave. in Jamaica.
The development, by the Arker Companies of Floral Park, will be nine stories tall with 65 units — 12 studio apartments, 15 one-bedrooms, 29 two-bedrooms, eight three-bedrooms and one on-site superintendent’s unit, according to Allan Arker, who spoke at a Community Board 12 meeting in April.
Monthly rents for the apartments will range from $716 for a studio to $1,276 for a three-bedroom. The units will be rented to families having incomes ranging from $35,000 a year for a studio to almost $60,000 for a three-bedroom apartment. Tenants will be selected by lottery.
The project will cost approximately $18 million. Financing comes from federal low-income tax credits, which the company used to raise equity to develop the project, combined with institutional financing derived from a private bank, Arker said.