Rechler Equity Partners Plans Patchogue Project in Rezoned Area

293 E Main St, Patchogue, NY (Google Maps)

Rechler Equity Partners’ Greybarn Patchogue project could be the first major development to kick off in a stretch that Brookhaven rezoned last year, according to Newsday.

Rechler aims to break ground later this year, approvals pending. The Town of Brookhaven approved an “incentive overlay district” to encourage new development on a quarter mile of East Main Street.

Like many “revitalization” developments, the luxury apartments will come at a price: Some local businesses need to go.

The building long home to Sal’s Patchogue Barber Shop and the Mediterranean Manor event space would be demolished to make way for Greybarn Patchogue, along with a property home to Miller’s Mint, a coin, stamp and metals dealer.

A half dozen other properties would be sold to Rechler for the project. The company plans to donate one building to the Patchogue Arts Council as an arts space.

A Rechler subsidiary submitted its development plan to the town in July. If approved, the firm estimates that development will cost $20 million and take two years to complete.

Rechler Equity Partners is led by cousins Mitchell and Gregg Rechler. According to its website, it has a $1.5 billion development pipeline that includes a 440,000-square-foot business park in Westhampton, a 500-unit mixed-use residential project called Greybarn-Amityville, and a mixed-use residential and hospitality project in Hampton Bays called the Boathouses on the Shinnecock Canal.

[Newsday] — Dennis Lynch

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button