Resorts World, Cirrus buy first project for workforce housing initiative
Cirrus Real Estate Partners and Resorts World are putting their chips where their mouths are, acquiring a site for workforce housing. Cirrus and the gaming company bought the site at 93-30 165th Street in Jamaica, Queens, for 46.1 million, Crain’s reported. The joint venture plans to redevelop the parking garage as a housing development with up to 700 homes. An affiliate of Greater Jamaica Development Corporation sold the site to the joint venture. A Ripco Real Estate team of Kevin Schmitz and Stephen Preuss Sr. represented the seller. The 246,000-square-foot corner lot is permitted for more than 600,000 square feet []This article originally appeared on The Real Deal. Click here to read the full story.
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