Akerman LLP, a top 100 U.S. law firm serving clients across the Americas, represented Peninsula Rockaway LP, an affiliate of The Arker Companies, 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.
Akerman served as land use and environmental counsel, helping secure the unanimous approval of the New York City Council. 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.
Akerman lawyers involved in this deal include partners Steven Sinacori, Richard Leland and Eleanore Martins, and associate Jaclyn Scarinci of the firm's Real Estate Practice Group in New York.
About Akerman
Akerman LLP is a top 100 U.S. law firm recognized among the most forward thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth. Akerman is known for its results in middle market M&A and complex disputes, and for helping clients achieve their most important business objectives in the financial services, real estate and other dynamic sectors across the United States and Latin America.
Akerman’s Real Estate Practice Group offers comprehensive and fully integrated project counsel services to clients across the United States and Latin America. With substantial industry experience and local market insights, the firm represents clients in complex real estate transactions and financings, development and redevelopment projects, public-private initiatives and litigation. Recognized as a national tier one law firm for real estate law by U.S. News - Best Lawyers, the group advises investors, developers, builders, lenders, retailers, owners and corporate end users, often in high profile matters.