Brookhaven Supervisor Ed Romaine participates in ceremony to mark construction start of IDA-assisted Meadows at Yaphank project

07/10/15

Yaphank, NY— Brookhaven Town Supervisor Ed Romaine joined developers Allan Rose and Wilbur Breslin and other officials at a June 22 “nailing ceremony” to mark the start of construction of Phase I of the mixed-use project known as the Meadows at Yaphank. The project’s first phase, assisted by the Town of Brookhaven Industrial Development Agency, is a 240-unit residential rental complex called the Reserve at the Boulevard. Eventually, the 322-acre site at the northwest corner of the Long Island Expressway and William Floyd Parkway will include 850 housing units, 327,000-square-feet of retail, some office space and a 120-room hotel. IDA benefits for the $231 million master-planned sustainable community include a partial property tax exemption, which amounts to about $300,000 annually for 10 years for the 240 residential units to be constructed during Phase 1. In addition to the 240 apartments, the first phase of construction also includes infrastructure improvements, including upgrades to an existing sewer treatment facility. Construction is expected to last 10 years. “Your legacy is being built, because of your perseverance,” Supervisor Romaine told Breslin and Rose, who spent decades attempting to build on the former Parr Meadows racetrack. The current project represents the most recent of numerous iterations of a project that initially included a mega-mall, housing, offices and more. Romaine noted that the project is along William Floyd Parkway, across from Brookhaven National Laboratory, “where homes are needed.” Romaine added: “It's the right project at the right time in the right place.” Brookhaven Town Councilwoman Connie Kepert, who was credited by the developers for her input into the project, said “the housing project is a crucial ingredient to keeping young people on Long Island. This is a mixed-use development which will attract residents of all ages.” Rose, who is managing partner of Rose-Breslin LLC, the developer, said, “I am so happy to see this project begin. There isn’t any project I’ve done in my life … that I feel more emotional about.” This year, the IDA has already assisted 7 commercial projects including Rail Realty, an apartment complex in upper Port Jefferson Village and Meadows at Yaphank Phase 1, a mixed-use development in Yaphank. The Brookhaven IDA has 11 additional projects under consideration with the potential to create and retain 2,100 jobs and result in $230 million in investment to the community.

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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