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.
Permits have been filed for a 17-story mixed-use building at 5123 Beach Channel Drive in Far Rockaway, Queens. Located between Beach 53rd Street and Beach 54th Street, the interior lot is a short walk to the Beach 44 Street-Frank Avenue subway station, serviced by the A train. Arker Companies under the Peninsula Rockaway LP is listed as the owner behind the applications. The developer recently filed permits for 5119 Beach Channel Drive, a neighboring new construction site also part of the Peninsula Hospital Redevelopment.
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.