Walter: Riverhead wins half-million dollar grant for two downtown projects

Riverhead Town snared a $500,000 grant under Round 4 of New York State Empire State Development RESTORE New York Communities Initiative Municipal Grant Program.

Riverhead’s was one of only three awards on Long Island and was the maximum amount it was eligible for as a town with a population under 40,000.

The $500,000 will go towards the rehabilitation and reconstruction of three buildings with construction slated to begin in 2017, part of a $30 million-plus project involving the creation of affordable housing, retail space, and food production facility projects in downtown Riverhead, according to a press release issued by Town Supervisor Sean Walter.

The grant will be split between projects being advanced by Georgica Green and North to South Development. The shares awarded to each project is not yet known, Riverhead Community Development Agency director Chris Kempner said.

Georgica Green will demolish several blighted, deteriorating vacant structures to create a mixed use, mixed income workforce housing development that will include 117 housing units and over 15,000 square feet of retail space, according to the press release.

North to South Development will renovate another 10,000-square-foot vacant and deteriorating structure into the Riverhead Food Hall and Market – a regional food-based tourist attraction that will provide small retail spaces and shared commercial facilities for agritourism related businesses, the release said.

“These downtown redevelopment initiatives will collectively invest over $30 million to create attractive vibrant spaces that will support the growing number of businesses and mixed use housing developments along downtown Riverhead’s vibrant walkable Main Street,” Walter said. The redevelopment will create active space along the Peconic River allowing waterfront views and active outdoor space for tourists, visitors, residents and businesses to enjoy, he said.

“New York State funding for redevelopment of vacant and fallow properties into viable attractive live-work-play spaces is a win-win for existing businesses, local residents, Riverhead Town, Suffolk County, and New York State,” State Senator Ken LaValle said. “Downtown Riverhead continues to grow new businesses and flourish into a unique Main Street with great food and entertainment. The workforce housing component will allow the East End to maintain affordable and quality housing for our young people and others who would like to locate in a walkable downtown.”

Walter said the town is “extremely pleased to have New York State as a funding partner in these significant economic development projects.” He said the state funding is crucial to the ability of both projects to move forward.

“We have seen tremendous positive improvements over the past several years as downtown Riverhead attracts more and more private investment,” Walter said.

“This redevelopment is an essential piece of the puzzle to help revitalize the community in historic downtown Riverhead,” Georgica Green Ventures president David Gallo said.

Michael Butler, managing partner of North South Development, and developer of the Woolworth Revitalization mixed-use project on Main Street, said “Riverhead has undergone incredible revitalization over the past few years but we need more attractions and activities to compliment the Long Aquarium, the Suffolk Theater and the great restaurants that will encourage people to come downtown. We believe the Riverhead Food Hall and Market is the exactly what is needed.”

Downtown Riverhead is a New York State-designated Empire Zone, a New York State Brownfield Opportunity Area, and a New York State Urban Renewal Area – all supporting removal and/or redevelopment of vacant blighted structures on East Main Street along the Peconic River to encourage riverfront access and foot traffic for a more vibrant downtown business center.