Construction on the first 880 units at Willets Points is expected to be completed by the end of 2026.
Construction on the first 880 units at Willets Points is expected to be completed by the end of 2026.

Officials have started construction on the first phase of a massive development that will deliver more than 2,500 affordable housing units, roughly 35,000 square feet of public open space, a soccer stadium, and more in New York City.

Officials say the project will be the largest 100% affordable housing development in the city in 40 years.

Willets Point Phase 1A will feature the development of an 880-unit community in the Willets Points neighborhood of Queens. Units will be home to households earning between 30% and 120% of the area median income, with 133 apartments set aside for residents who were formerly homeless.

The community is the first phase of a joint venture between Related Cos. and Sterling Equities that will transform underutilized land with 2,500 affordable homes across six apartment buildings, a hotel, a public school, and a stadium for the city’s Major League Soccer team.

Wells Fargo’s Community Lending and Investment (CDI) group has arranged $359 million in financing for the initial phase.

CLI is the administrative agent on a $236.5 million construction facility and provided a $123.5 million low-income housing tax credit investment. Additionally, the city has committed over $420 million to the project to support both the housing and major site infrastructure improvements.