Rockaway seems even more resilient with the return of one of its large residential complexes.
Real estate firm L+M Development Partners and the city Housing Development Corporation cut the ribbon on the $232.3 million Arverne View housing complex in Rockaway on Monday, two years after the buildings were devastated by flooding from Superstorm Sandy.
The 13-acre complex, consisting of 1,093 units throughout 11 buildings, features affordable housing for low- and moderate-income families and has a daycare center, a community center, a supermarket, more than 10,000 square feet of on-site retail space, laundry facilities, 24-hour security, management office and parking.
In October 2012, days before L+M was about to buy what was then known as the Ocean Village housing complex, which had many buildings in need of repairs, Sandy wrecked the community. L+M continued with the purchase in November and committed to rebuilding the housing development. The buildings underwent a $60 million interior and exterior rehabilitation, funded by federal, city and private partnerships, and new storm-proofing and resiliency measures were installed.
“The devastation caused by Superstorm Sandy just two years ago left many of my neighbors in the Rockaways without adequate shelter. I applaud both the public and private partnerships that came together to rebuild and restore Arverne View,” said state Sen. James Sanders Jr.
The apartments range in size from studios to five bedrooms in the buildings, which vary in height from four stories to a 19-story tower.
Originally built in 1974 for low-income families, Arverne View remained affordable housing by accepting individuals and families earning no more than 80 percent of the area median income of $66,400 annually for a family of four. And 25 percent of units in the buildings were reserved for those earning no more than 60 percent of the area median income.
“Throughout the rehabilitation of Arverne View, our goal was to provide quality homes in a great setting and at the same time preserve affordable housing for the many New Yorkers that need it,” said Ron Moelis, CEO of L+M. “Standing here on the second anniversary of Hurricane Sandy among these beautifully renovated buildings truly makes you appreciate just how much we’ve accomplished.”