Arch Companies, a vertically integrated real estate owner, operator and developer, has announced the topping out of the firm’s Myrtle Avenue project. This building has 130,000 square feet of retail space which is approximately 60% pre-leased to big box retailers. There are also 133 residential units across 78,000 square feet, which will include a 30 percent affordable component under the 421-A program, and 40,000 square feet of parking.
“We are very excited about topping off this prime project in Ridgewood, Queens,” said Jeff Simpson, Managing Partner of Arch Companies. “This building is in a great location, and will deliver much-needed residential units as well as retail amenities to the neighborhood. We are pleased with the construction progress and look forward to completing this building on schedule for delivery next year.”
Arch began construction on the Myrtle Avenue project early in 2021; and project delivery is expected in 2023. The facade installation is underway. Additionally, this building is located just off the L and M lines and is close to the Ridgewood Intermodal Bus Terminal.
About Arch Companies
Arch Companies is a vertically integrated real estate owner, operator, and developer with an active investment portfolio of more than 3.4 million square feet across the United States. Arch specializes in real estate investment, development, and management with a concentration on primary and secondary markets. The company has three investment verticals, value add multi-family, ground up development and rescue capital. Arch differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners. Arch’s vertically integrated platform allows for complete control and oversight of the business plan throughout the life cycle of the investment.
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