L+M Development Partners, Bluestone Organization and Triangle Equities have closed on $30.3 million in financing to complete the first phase of Arverne East, a forthcoming master-planned community in the Rockaways.
Tishman Speyer has purchased the vast majority of Edgemere Commons, a forthcoming affordable housing complex in Edgemere, Queens. The development site is located on the former Peninsula Hospital complex in the Rockaways, which comprises 9.34 acres.
City agencies will soon review amended proposals to redevelop the former Peninsula Hospital site in Edgemere, Queens into an 11-building mixed-use complex. The development’s final scope of work arrives a year after residents and community members were invited to provide commentary and feedback on initial plans.
Redevelopments with thousands of residential units aren’t particularly common in New York City, however, the past several months have brought proposals for such projects to ULURP from several locations, including the tentative 1,642-unit expansion of Lenox Terrace, in Harlem. Today, YIMBY has the first look at plans for 2,200 new units proposed for the former Peninsula Hospital site, in Edgemere, Queens.
The New York City Department of Housing Preservation and Development (HDP) has held meetings with community members of Edgemere, Queens, in an effort to revive the significantly disinvested and Hurricane Sandy-ravaged area. Edgemere is the neighborhood located between Beach 35th Street and Beach 50th Street, in the Rockaways. HDP has drafted a wish list for the neighborhood, which includes a bird sanctuary, playgrounds/park spaces, and retail corridors, according to the Wall Street Journal. The entire area is also in a flood zone, and both the city, who owns many vacant lots in the neighborhood, and home owners share the same concern for flood protection measures. Proposals for the area, which could include a rezoning that supports mixed-use corridors, densification, and/or affordable housing, are expected to be released this summer. The area is large and suburban in nature and benefits from stops on the A train at Beach 36th and Beach 44th streets.