October 23, 2020
The Arker Companies formally opened the first phase of the planned six-building, 1,163-unit, 100% affordable housing development, The Fountains in East New York, to low-income residents.
Phase one has 332 total apartments for New Yorkers making up to $61,440 for a family of three, which is 60% AMI. The buildings include 94 units set aside for those living with disabilities.
“This is just the first two of six buildings, and we look forward to celebrating many more families moving in here over the coming months,” said Alex Arker, principal at Arker Companies.
The Fountains was first announced by Gov. Andrew Cuomo in 2017. The development sits on just under seven acres of land and will ultimately include deeply affordable along with middle-income affordable units, as well as supportive services for seniors and residents with special needs and include commercial and retail space.
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