L+M, Urbane Development, The Bluestone Organization, Mega Group Development, and Triangle Equities Development Company announced the successful closing of over $278 million in financing for the construction of Arverne East Building D, the the first housing phase of the transformative Arverne East development masterplan. Arverne East will revitalize a vacant 116-acre oceanfront site into a vibrant and resilient community in the Edgemere neighborhood on the Rockaway Peninsula.