Peninsula Rockaway’s $1.5 Billion Redevelopment Of Peninsula Hospital

Akerman LLP represented Peninsula Rockaway LP in the zoning entitlements for the redevelopment of the former Peninsula Hospital into Edgemere Commons in the Far Rockaway neighborhood of Queens, New York.

Once complete, Edgemere Commons will feature 2,050 affordable housing units and 11 mixed-use buildings, including a supermarket, retail and community facilities, and a substantial amount of publicly accessible open space, totaling 2.4 million square feet. The project is expected to create 650 permanent jobs, 350 annual construction jobs, and nearly $1.5 billion in economic development.

Edgemere Commons is the largest affordable housing project to undergo review under the City Environmental Quality Review (CEQR) since the City passed the Mandatory Inclusionary Housing (MIH) text amendment in 2016. The project will be complete in 2034.

Peninsula Rockaway LP is an affiliate of The Arker Companies. The Arker Companies was founded in 2013. The company’s line of business includes renting, buying, selling and appraising real estate.

Akerman served as land use and environmental counsel, helping secure the unanimous approval of the New York City Council. Akerman team included partners Steven Sinacori, Richard Leland (Picture) and Eleanore Martins, and associate Jaclyn Scarinci of the firm’s Real Estate Practice Group in New York.

Involved fees earner: Richard Leland – Akerman; Eleanore Martins – Akerman; Jaclyn Scarinci – Akerman; Steven Sinacori – Akerman;

Law Firms: Akerman;

Clients: Peninsula Rockaway LP;

Author: Ambrogio Visconti