NYCEEC provided a $4,500,000 Predevelopment Loan to support the redevelopment of the Variety Boys & Girls Club of Queens (VBGCQ) site into a 14-story, mixed-use community facility and affordable housing project in Astoria, Queens.

The project will replace the existing 1955 facility with a state-of-the-art clubhouse, featuring a 432-seat charter school, 1,000-seat arena/gymnasium, teaching kitchen, business/nonprofit incubator space, black box theater, indoor aquatic center, and the only planetarium in Western Queens. The project will deliver 235 units of affordable housing, with 71 supportive units set aside for youth aging out of foster care. On-site social services will be provided by Institute for Community Living (ICL). The remaining units will be affordable, serving households earning 40% to 110% of the Area Median Income.

The project is designed to LEED Gold standards, incorporating all-electric energy systems, high-efficiency design, and the installation of aunitized ground-source heat pump system. Co-developed by VBGCQ, ICL, and Mega Group Development, the project has been awarded NYSERDA’s Building of Excellence Award for low-carbon buildings.

NYCEEC’s loan will fund early-stage predevelopment activities, including architectural and engineering design, environmental review, and permitting, supporting the project through construction financing closing.