Arverne East
Development Description
Development Overview
Summary
Arverne East is the result of a public-private partnership with the City of New York. A tri-venture team of Triangle Equities, L+M Development Partners, and the Bluestone Organization was selected through an RFP process run by the NYC Department of Housing Preservation and Development (HPD) for the development of a resilient and sustainable community on an 80+ acre site on the Rockaway Peninsula.
Plans for the site include the development of a sustainable and resilient community of approximately 1,200 residential units, approximately 150,000 SF of community retail and restaurant space, a nature preserve, and a boardwalk. The importance of coastal resiliency is abundantly clear in the wake of Hurricane Sandy, and the construction of a resiliency preserve will ensure that the Rockaway Peninsula area, vulnerable to flooding from bay and sea storm surges, ground water liquefaction, and surface rain, is well protected against future “superstorms.”
Developer
L+M Development Partners
The Bluestone Organization