Foxy Development finally secures financing for long-awaited senior housing project in Forest Hills

After years of challenges and obstacles, Foxy Development has finally secured the necessary financing to move forward with their 144-unit senior housing project in Forest Hills.

According to reports, TD Bank has provided a $37.5 million loan for construction, while Community Preservation Corp has contributed a $40 million long-term loan. On the public side, the city is also providing $71 million from a program specifically for senior housing projects.

"As an affordable housing developer, I've never seen anything as difficult as this," said Jeff Fox, co-developer of the project. "Nothing compares to the challenges we faced in securing funding for this project."

This news comes as a relief for Foxy Development, who has faced numerous hurdles and setbacks in their efforts to bring affordable and senior housing to Forest Hills. Despite the difficulties, they persevered and were eventually able to secure the necessary funding.

This project serves as a reminder of the challenges and complexities of building affordable housing in New York City, and the dedication it takes to see these projects through to completion.

https://therealdeal.com/new-york/2025/09/17/queens-senior-housing-project-scores-public-and-private-funding-despite-hurdles/