Riverhead City Council on Tuesday granted preliminary site plan approval to the five-story mixed-use development building at 205 Osborn Avenue at the corner of Court Street, bringing the project closer to the revitalization of the distressed area with “transit- oriented development.
Council members voted unanimously to complete preliminary review of the proposed $19.6 million development, which would include 37 market-priced rental apartments – 24 one-bedroom units, 10 two-bedroom units bedrooms and three studios with ground-floor offices in the 41,867-square-foot, 50-foot-tall building. Construction also requires surface parking on the approximately half-acre site. Board members made no comment during the vote.
The development was the first proposed since the city adopted the Railroad Avenue Urban Renewal Area overlay district and transit-oriented development plan more than a year ago. The city council moved the project forward in September by assuming the project’s lead agency under the state’s Environmental Quality Review Act and determining that the project will have no environmental impacts. significant negative environmental effects.
The development is the second in Riverhead Town from Huntington-based G2D Group, which is also currently constructing a mark-to-market apartment building on West Main Street.
Over the past few months, the Osborn Avenue project has been reviewed by various boards and committees. The Zoning Appeal Board granted six of the nine zoning variances requested by the proponent for the project. The city demanded that the “volume” of the building be reduced by moving back the fifth floor of the building. An amended site plan is also intended to alleviate potential traffic congestion on Court Street.
The city held a public hearing on the site plan on Dec. 7, with some residents and organizations, including the Riverhead Free Library, raising concerns about the building’s impact on surrounding properties as well as the quality and the water supply. Others, including prominent downtown business leaders, have expressed support for the project.
According to the resolution granting preliminary site plan approval, the building will need to meet certain requirements before the Riverhead Water District will provide domestic water and fire protection to the site, including the installation of a new 4 inch domestic water service extended from existing. water main on Court Street; a new 6-inch water fire sprinkler service; a developer-funded upgrade to the existing iron water main along Osborn Avenue; and the replacement of two existing fire hydrants near the property.
The developers are also seeking financial assistance from the Industrial Development Agency, including an increased property tax abatement over 10 years, as well as a mortgage tax and sales/use tax exemption. The promoters said the project “would not be financially feasible” without IDA assistance.
City council did not discuss public comments or any elements of the project after the hearing in a public business session ahead of Tuesday’s meeting.
GD2 CEO Greg DeRosa said estimated apartment rents in the building would be around $2,000 for a two-bedroom apartment, around $2,000 for a one-bedroom apartment, and around $1,600 for a a studio.
Note to editors: A paragraph detailing information on the development that must meet certain requirements to be served by the Riverhead Water District has been added after the original publication.
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