Shorewood Real Estate Group opens 164-unit Queens rental at 34-20 Junction Boulevard

• Shorewood Real Estate Group launches 164-unit mixed-use building in Queens
• 50 units priced at 130% AMI with rents up to $3,600
• Housing lottery open through June 16, 2026

What Shorewood is delivering in Queens

Shorewood Real Estate Group has launched a housing lottery for 34-20 Junction Boulevard, a seven-story mixed-use development in Corona, Queens. The project delivers 164 residential units, adding new supply to a dense and transit-accessible neighborhood. With the lottery now open, the building is effectively entering its lease-up phase.

What the pricing and unit mix mean

The lottery includes 50 units set at 130 percent of the area median income, targeting middle-income renters rather than deeply affordable tiers. Studios are priced at $2,500, one-bedrooms at $2,823, and two-bedrooms at $3,600, reflecting continued upward pressure on rents even within income-restricted housing. This pricing strategy allows developers to balance affordability requirements with strong revenue potential.

How amenities position the building

The project was designed by Dattner Architects and includes a full suite of amenities aimed at modern renters. Features include a rooftop terrace, coworking space, gym, dog park, and multiple shared spaces, aligning with expectations for newer multifamily developments in Queens. These amenities help support lease-up velocity and tenant retention, especially in competitive outer-borough markets.

What this means for Queens multifamily investors

Housing lotteries like this signal that projects are reaching completion and beginning to generate income. For investors, this marks the transition from development risk to stabilized operations. Corona continues to attract multifamily development due to strong demand and relative affordability compared to other parts of New York City. For landlords, the takeaway is clear. Even at higher AMI levels, demand remains strong, and well-amenitized buildings are positioned to lease quickly in today’s market.