Town of Hempstead Board of Directors Approves Apartment Project on Former Lynbrook Feather Factory Site | Herald Community Newspapers
Hempstead City Council voted on Nov. 30 to approve advancement of the $ 95 million, 201 unit apartment complex in the former Mangrove Feather factory in Lynbrook.
The project will encompass 7 and 21 Langdon Place, 47 Broadway and 90 and 96 Station Plaza, where the plant once operated and has been dormant since 2008. The city’s Industrial Development Agency has also approved a 30-year PILOT, or a payment in lieu of taxes, agreement for the company Breslin Realty Corp, based in Garden City.
“I think it’s great, and we’re moving forward with the project,” Mayor Alan Beach said. “I’m really excited about this, and it’s all positive. It’s progressing and I’m happy.
Beach said that while some residents have spoken out against PILOT, the annual tax rate would freeze at around $ 185,000 for three years, then rise to $ 200,000 in the fourth year and over $ 1 million in the next year. 15th year. After 30 years, taxes will drop to $ 1.8 million.
With the approval of the project, Beach said, the developers said they hoped to raze the old factory later this month or early January.
“Although it’s knocked down and there’s nothing on the property, they could benefit from a reduced tax rate,” Beach said of the developers. “They don’t ask that. They will continue to pay the total tax bill for all affected properties.
Beach added that village officials have been transparent about the project, including posting updates on the village’s website and hosting a meeting on November 16 in which residents provided feedback on the PILOT. .
Breslin received approval from village authorities in June to raze the industrial building across from Lynbrook Long Island Rail Road station, which has been vacant for more than a decade, and build a 278,014 square foot development focused on public transport with 55 studios and 111 one-bedroom apartments and 35 two-bedroom apartments. In addition, 10 percent of units must be designated as affordable housing for the workforce, for individuals or families equal to or less than 130 percent of the region’s median income. Workforce housing generally includes those who are not generally eligible for affordable housing programs.
Fred Parola, chief operating officer of the town’s IDA, said in October that the board believed the apartment complex would be a perfect fit for the village for a number of reasons, including “its proximity to the LIRR, the lack of impact on schools and the potential benefit to downtown businesses.
The first two floors of the building will house a parking garage, with 205 parking spaces for residents. Facilities will include a retail cafe, club room, concierge, rooftop patio with grill, lounge, party room and dog park. Experts also estimated that due to the large number of studios and one-bedroom apartments, six to 19 school-aged children would likely be added to the neighborhood.
Several village administrations have sought to develop the site over the years, but it took many years to persuade the owner to sell the property. Breslin’s development manager David Orwasher said he thinks the site is a great location because of its proximity to the LIRR station and downtown shops and restaurants. Breslin negotiated with Jordan Baruch and Matthew Kucker of Colliers International, who negotiated the deal.
Beach said the $ 24 million Cornerstone at Yorkshire project under construction on the site of the former Capri Lynbrook Motor Inn is also progressing. The developers of Terwillger & Bartone Properties have received a 20 year PILOT for this project.
Orwasher said in October that the developers were responsive to the needs of the community while seeking a PILOT from IDA.
“We are very concerned about being good neighbors, good corporate citizens and contributing to the vitality of the region,” he declared. “Taxes will likely increase seven to ten times over time. It will be an important and important income generator. “
To learn more about the project, visit restore4347broadwaylynbrookstation.com.