The Riverhead Town Board granted preliminary site plan approval to the five-story, mixed-use development building at 205 Osborn Avenue on the corner of Court Street on Tuesday, moving the project one step closer to revitalizing the long-distressed area with “transit-oriented development.”
Board members voted unanimously to complete the preliminary review of the $19.6 million development proposal, which would include 37 market-rate rental apartments — 24 one-bedroom, 10 two-bedroom and three studio units with ground-floor office uses in the 41,867-square-foot, 50-foot-tall building. The construction also calls for on-site surface parking on the approximately one-half acre site. Board members made no comment during the vote.
The development was the first proposed since the town adopted Railroad Avenue Urban Renewal Area Overlay District and a Transit Oriented Development Plan more than a year ago. The town board pushed the project forward in September by assuming lead agency on the project pursuant to the State Environmental Quality Review Act and determining that the project will not have significant negative environmental impacts.
The development is the second one in Riverhead Town from the Huntington-based G2D Group, which is also currently constructing a market-rate 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 Board of Appeals granted six of the nine zoning variances sought by the developer for the project. The town required the “bulk” of the building be reduced by stepping back the fifth story of the building. An amended site plan also aims to mitigate potential traffic congestion on Court Street.
The town held a public hearing on the site plan 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 water quality and supply. Others, including prominent downtown business leaders, voiced support for the project.
According to the resolution granting preliminary site plan approval, the building will have to meet certain requirements prior to the Riverhead Water District supplying domestic water and fire protection to the site, including the installation of a new 4-inch domestic water service extended from the existing water main on Court Street; a new 6-inch water fire sprinkler service; a developer-funded upgrade on the existing iron water main along Osborn Avenue; and the replacement of two existing hydrants near the property.
The developers are also pursuing financial assistance from the Industrial Development Agency, including a 10-year enhanced real property tax abatement, as well as mortgage tax and sales/use tax exemption. The developers said the project would “not be financially feasible” without IDA assistance.
The town board did not discuss the public’s comments or any element of the project after the hearing in a public work session prior to Tuesday’s meeting.
GD2 CEO Greg DeRosa said the estimated apartment rents in the building will be in the upper $2,000s for a two-bedroom apartments, around $2,000 for a one-bedroom, and about $1,600 for a studio apartment.
Editors Note: A paragraph detailing the information about the development needing to meet certain requirements to be serviced by the Riverhead Water District was added after original publication.
The survival of local journalism depends on your support.
We are a small family-owned operation. You rely on us to stay informed, and we depend on you to make our work possible. Just a few dollars can help us continue to bring this important service to our community.
Support RiverheadLOCAL today.
