L+M Development Partners bought Arverne View on November 9, 2012, just after the storm flooded the building with more than five feet of seawater.
With support from housing agencies at the city and federal level, L+M undertook the $232 million revitalization project.
“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 and Founding Partner 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.”
In addition to revitalizing the 11-building affordable housing complex, Moelis noted the importance of also taking on storm proofing and resiliency measures, as well as providing services for those still affected by the storm.
“In addition, through our partnerships with several non-profits organizations, we now have services and support here at Arverne View to aid those that are still recovering from the effects of Hurricane Sandy,” he said.
Councilman Donovan Richards remembered his days growing up in what was once known as Ocean Village at a ceremonial ribbon cutting ceremony last week.
“Today, the apartment complex formerly known as Ocean Village is successfully reopening as Arverne View,” Richards said. “As a former resident of Ocean Village, I understand the importance of keeping housing options accessible for middle-income families.”