New York City Housing Authority Agenda Regular Meeting 2026-06-24
NYCHA Amends Ocean Bay Deal With Arverne Edgemere
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Description
NYCHA proposes to amend a prior disposition resolution and, upon HUD approval, execute a 99-year ground lease and related RAD transaction documents with Arverne Edgemere LLC for a mixed-use affordable housing project at Ocean Bay Apartments (Oceanside). The action updates the developer identity and revises the plan from a supermarket-focused retail building to a five-story, 105-unit residential building with retail and community space.
Contract Details
Vendor
ARVERNE EDGEMERE LLC
Agency
NYC Housing Authority (NYCHA), NY
Contract Type
FACILITIES
Document Date
June 24, 2026
Contract Term
Ninety-nine (99) year ground lease for the Project Site, commencing upon HUD approval and execution
Renewal Info
Ground lease for the Project Site is structured as a single 99-year term; no renewal options are described in the agenda summary.
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