Brookhaven Industrial Development Agency Closes on Benefits for Two Industrial Buildings in Shirley Industrial Park

06/27/22

Brookhaven Industrial Development Agency Closes on Benefits

for Two Industrial Buildings in Shirley Industrial Park

FARMINGVILLE, NY  (June 24, 2022) — Frederick C. Braun III, Chairman of the Town of Brookhaven Industrial Development  Agency (IDA), announced that the agency has closed on an economic development package that will allow a joint venture to build warehouses in Shirley.

The IDA closed on the agreement on June 24 with AVR-SP Brookhaven JV LLC., which intends to build two buildings, totaling about 401,080 square feet on 47.26-acres of land at the eastern terminus of Precision Drive in Shirley. The buildings, one 250,540 square feet and another of 150,540 square feet, will be leased to tenants. The incentives agreement for the $72 million project was accepted by the IDA at its Aug 18, 2021 meeting and given final approval on Dec 8, 2021.

The project is expected to generate 70 full-time equivalent jobs within two years of its completion, expected in 2025. Construction is expected to generate 91 jobs.

AVR-SP is a joint venture of AVR Realty Company, the Yonkers real estate company participating in the 322-acre mixed use development The Meadows at Yaphank, and Indianapolis-based Scannell Properties, an international real estate development firm.

“This project will turn land has that been vacant for decades into productive real estate generating both jobs and revenues for the town,” said Braun.

About the Town of Brookhaven Industrial Development Agency

Since 1970, the mission of the Town of Brookhaven Industrial Development Agency is to improve the quality of life for Brookhaven residents by promoting and assisting the growth of businesses who support the Town through capital investment and the creation and retention of jobs. 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 Shoreham Energy LLC, Burmax, Intercounty Appliance, Suffolk Transportation, Tate’s Holding Co. and D&F Patchogue. For more information, visit BrookhavenIDA.org or call 631-451-6563.

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