Almost 1,000 new homes are coming to a long-vacant site in Long Island City. The city selected Slate Property Group, The Hudson Cos. and nonprofit developer Volunteers of America to develop The Orion, a 980-unit housing development in a western portion of the Queens neighborhood known as Hunter’s Point South.

Slate Property Group closed a separately managed account with up to $1 billion in committed capital to originate lower-leverage senior secured residential construction and bridge loans.

Slate Property Group and RiseBoro Community Partnership have secured the financing to build 312 units of affordable housing in Williamsburg, Brooklyn.