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FOR IMMEDIATE RELEASE RAIL REALTY BREAKS GROUND ON PORT JEFFERSON APARTMENT COMPLEX AIDED BY BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

05/11/15

PORT JEFFERSON, NEW YORK (May 11, 2015) – Ground was broken today in Port Jefferson for a 74-unit rental apartment complex in Port Jefferson that is being constructed with assistance from the Town of Brookhaven Industrial Development Agency. The project is expected to provide a spark to the revitalization of Upper Port Jefferson Village.

The IDA provided economic incentives to Port Jefferson-based Rail Realty LLC, which is constructing the two-building, 74-unit rental apartment complex on seven lots at the northeast and southeast corners of Texaco Avenue and Linden Place, just north of the Long Island Railroad yard in Port Jefferson. Each of the three-story buildings will total 54,829 square feet and will contain one and two-bedroom units listed at market rate rents. The apartments will offer full amenities and secure onsite parking. Anthony J. Gitto, principal of Rail Realty, said he has a waiting list of tenants for the apartments at Barnham House, an apartment rental complex in downtown Port Jefferson. Leasing has not begun for the new project. The project is expected to create 69 construction jobs and 5 permanent positions. “Our assistance to this project means that the developer will be able to offer our town much-needed rental housing options,” said IDA chairman Frederick C. Braun, III. “Rental projects such as this will help keep young people in the Town of Brookhaven and offer housing alternatives for our residents who work nearby at Stony Brook University, Brookhaven National Laboratory and Mather and St. Charles’s Hospitals,” said Brookhaven Town Supervisor Edward Romaine. In the last year, the IDA assisted 15 commercial projects including Meadows at Yaphank Phase 1, a mixed use development in Yaphank; a solar installation on the roof of Clare Rose’s facility in Yaphank, and Sayville Browning, an extended stay hotel in Ronkonkoma.

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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    Farmingville, New York 11738

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