"In the current climate of limited public funds, this project provides the private sector an economically feasible means to help expand the medical and health facilities on the campus of Queens Hospital while benefiting the residential and business communities of Jamaica as well," says New York City Economic Development Corp. president Andrew M. Alper. The EDC and the New York City Health and Hospitals Corp. selected Pistilli and D&F for the project, which is expected to create approximately 100 permanent and 500 construction jobs.

HHC president Dr. Benjamin Chu points out that the proposed development will provide an ongoing revenue stream to Queens Hospital while improving parking conditions in the community. "The additional residential units will also create convenient housing opportunities, which we believe will help us to retain and recruit medical and nursing personnel," he adds.

Pistilli Realty manages more than 4,200 residential units and 225,000 sf of commercial space. The company's recent projects include the conversions of the Eagle Electric Manufacturing plant and the former Steinway factory in Astoria, Queens, to residential buildings. D&F Consultants, whose principals are Leonard D'Amico and Peter Florey, has more than 20 years of experience in the development and management of affordable and senior housing projects.