Foxy Development, Selfhelp Realty to Redevelop Queens Hospital Into Senior Housing

A joint venture involving Foxy Development and Selfhelp Realty Group announced plans Wednesday to redevelop a vacant hospital in Queens’ Forest Hills neighborhood into senior housing.

The JV will convert the former Parkway Hospital building at 70-35 113th Street — which has been vacant since the hospital closed in 2008 — into a 145-unit mixed-use development including affordable senior housing and a new 34,000-square-foot Forest Hills Jewish Center, according to the announcement.

Called the Perennial, the development represents “one of the most complex public-private redevelopment projects in New York City’s recent history” and the first “deeply affordable” senior housing project in Forest Hills, the announcement said.

Foxy and Selfhelp have closed on financing for the project, which includes a $37.5 million construction loan from TD Bank, a $40.14 million “Freddie Forward” permanent loan from the Community Preservation Corporation (CPC), and a $70.7 million senior affordable rental apartments loan from the New York City Department of Housing Preservation and Development (HPD).

Construction on the project is set to be completed by the end of 2027, according to the announcement.

“The Perennial will take advantage of a recent rezoning to add a 50,000-square-foot expansion to the existing hospital building,” Jeff Fox, principal of Foxy, said in a statement. “We are not only adding a two-story overbuild, but also converting an existing structure from one use to another and carving out a double-height, column-free sanctuary — all within an abandoned 60-year-old hospital building.”

The project will also feature a community room, pantry, children’s playroom, laundry room, library, exercise room, rooftop terrace, and 17-space parking garage.

“Recognizing the urgent need for affordable housing, we are bringing our proven expertise in development and social services to Forest Hills,” added Lisa Trub, executive director of Selfhelp.

Once completed, the 156,133-square-foot Perennial will comprise 145 affordable housing units for households earning up to 50 percent of the area median income, according to the announcement. Those will include 124 senior units, including 44 units for formerly homeless seniors. Around 20 units will be reserved for families.

Foxy and Selfhelp both got involved with the project in January 2020 following a rezoning of the Forest Hills site. The property was sold for $31.7 million in 2022 to the Queens-based RJ Capital Group, which made a deal to donate the hospital building while retaining the parking lot to develop the mixed-use project, according to the announcement.

Foxy is the lead developer on the project, while Selfhelp will operate social services at the development and provide support to older adult residents.

“Having on-site social services in senior affordable housing isn’t just about support — it’s about creating a home where older adults feel valued, connected, and able to live life on their own terms,” Trub said.

The HPD is providing capital financing and rental subsidy for the project so that “senior residents pay no more than 30 percent of their income for rent,” the announcement said. The project will also receive a 40-year property tax exemption as part of the financing package.

“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,” Ahmed Tigani, acting HPD commissioner, said in a statement.

“When we are able to build smart and build in a broader range of communities, we bring meaningful investments that honor our obligation to care for our neighborhoods,” Tigani added. “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.”

Isabelle Durso can be reached at idurso@commercialobserver.com.