BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY APPROVES INCENTIVES FOR $65 MILLION SENIOR RENTAL COMPLEX IN PORT JEFFERSON STATION

04/26/18

FARMINGVILLE, NY (April 26, 2018) – Frederick C. Braun III, chairman of the Town of Brookhaven Industrial Development Agency, announced that the agency has approved an application for economic incentives from a developer planning to construct a 244-unit senior residential rental complex on vacant land in Port Jefferson Station.

The IDA board, meeting on Feb. 21, approved an incentive package for Garden City-based Benjamin Development Co., operating as The Vistas of Port Jefferson LLC, for its $65 million project. The project, expected to be completed within two years, includes the construction of 64 two-bedroom townhouses, 36 one-bedroom units, 144 two-bedroom apartments, a clubhouse and a sewage-pumping facility on 27 acres of vacant land on Bicycle Path. Fifteen percent of the units would be affordable, available to prospective tenants earning less than 80 percent of the area’s median income. Construction of the project would result in the creation of more than 400 new construction jobs and 24 permanent positions. In recent years, the IDA has assisted rental apartment projects in Port Jefferson, Yaphank, Ronkonkoma, and Coram. In addition to rental apartment projects, the IDA has supported assisted living and housing projects to benefit the increasing senior population and to provide legal housing for Long Island’s workforce.

About the Town of Brookhaven Industrial Development Agency
Since 1971, the mission of the Brookhaven Industrial Development Agency has been to promote the economic welfare and prosperity of the Town of Brookhaven by assisting in the acquisition, construction, reconstruction, and equipping of commercial and industrial facilities. The IDA has issued millions of dollars in tax-exempt or taxable bonds and provided assistance through straight lease deals to encourage companies to either locate or expand in the Town of Brookhaven. This assistance has been extended to companies both large and small, and has resulted in the direct creation of thousands of jobs for Brookhaven residents. The IDA has provided assistance to a wide range of companies, including Tate's, Amneal Pharmaceuticals, Precision International, LI Precast, Woodcrest, Uncle Wally's, and Framerica. For more information visit BrookhavenIDA.org or call 631-451-6563.

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