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BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY CLOSES ON PACKAGE OF ECONOMIC INCENTIVES FOR PLANNED AFFORDABLE ASSISTED LIVING PROJECT

04/17/19

FARMINGVILLE, NY (April 17, 2019) — Frederick C. Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA), announced that the agency has closed on a package of economic development incentives for an affordable assisted living and memory support project proposed for an undeveloped site on Middle Country Road in Coram.

The incentives, approved by the IDA at the Dec. 4th meeting, closed on March 29th and will assist Jericho-based SHI-III Coram LLC, an affiliate of Jericho-based Senior Management LLC and Kaplan Development Group LLC, to construct a 112-bed assisted living facility to be known as All American Assisted Living.

SHI-III Coram LLC purchased the site, at the intersection of Middle Country Road and Paul’s Path, from Route 25 Properties, LLC / Lyon Retail Properties.

Development of the assisted living facility is expected to cost $19 million and will produce numerous construction industry jobs, as well as 60 full-time equivalent permanent jobs.

Senior Management, a rapidly expanding organization, opened its first All American Assisted Living facility in Massachusetts in 2013 and operates facilities in various states along the East Coast. Glenn Kaplan, the company’s principal, has 40 years of experience in the business and formerly was chairman of Kapson Senior Quarters, which was sold in 1998 to the investment bank Lazard Freres. Boston-based AEW Capital Management (“AEW”), a leading global institutional real estate investment firm, is a financial partner.

The residents of assisted-living facilities are seniors who need some aid in their day-to-day activities, but do not require extensive medical care. The facilities offer activities, recreation and field trips for the residents.

All American Assisted Living, according to the company, offers premium-level service while controlling costs for residents. All apartments are designed as two-bedroom units with shared living areas, kitchenettes, and bathrooms. The facility also will offer a secure environment for residents with Alzheimer’s and other forms of memory loss.

"There continues to be demand for assisted living throughout the Town of Brookhaven and the area in which All American proposed to build is underserved.”, said Braun.

About the Town of Brookhaven Industrial Development Agency
Since 1971, 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 Tate's Bake Shop, Amneal Pharmaceuticals, Precision International, LI Precast, Uncle Wally's, and Framerica. For more information, visit BrookhavenIDA.org or call 631-451-6563.

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