Developers Secure $95.7M for Beach Green Dunes III in Far Rockaway, Queens

L+M Development Partners, Triangle Equities, and The Bluestone Organization have secured a $95.7 million financing package for the development of Beach Green Dunes III, a Passive House-designed affordable housing project in the Edgemere section of Far Rockaway, Queens. The mixed-use building will feature 146 apartments ranging from studios to three-bedroom units, with rental eligibility aimed at very low- to moderate-income households, seniors, and formerly homeless individuals. It will also include nearly 2,100 square feet of retail and a community center, along with a new transit plaza that connects directly to the Beach 36th Street subway station.

Designed by Bernheimer Architecture, Beach Green Dunes III is part of a larger commitment to sustainable and resilient housing in the Rockaways. The building will incorporate advanced energy features such as geothermal heating and cooling, a rooftop solar array, and smart monitoring systems to reduce carbon impact and lower residents' utility costs. Its elevated design will also safeguard core elements from future storm surges and flooding—an essential consideration for waterfront development in the post-Hurricane Sandy era.

Residents will have access to amenities including a fitness center, laundry facilities, bike storage, roof deck, outdoor recreation areas, and on-site parking. The development is expected to break ground within weeks of financing and is slated for completion by the end of 2024, broadening the supply of high-quality, affordable, and eco-friendly housing in a growing Queens community.