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Calverton Enterprise Park

Triple Five at risk of bond default on NJ mega-mall, where it lost more than $59 million in 2021, securities filings...

Triple Five, the company in a $40 million land deal with the Town of Riverhead, is at risk of default on its $800 million bonds for its American Dream mega mall in New Jersey, according to a public securities filing made Friday by the bond issuer’s trustee. The company reported losing $59.4 million last year in a separate filing last month.

Riverhead Zoning Board asked for ruling on proposed waste-to-energy facility at EPCAL

A developer looking to build a waste-to-energy facility at the Calverton Enterprise Park is asking the Riverhead Zoning Board of Appeals to overrule the town building department's determination that the zoning code prohibits the use. The facility, proposed by Melville-based CEA Energy, would process organic wastes and generate renewable natural gas and compostable soil amenders, according to documents filed with the ZBA.

April 2-3 drag-racing events canceled due to mixup over taxiway at 10,000-foot runway

The “Race Track, Not Street” drag-racing events scheduled for this weekend have been canceled due to confusion —or some sort of misunderstanding — over ownership of a taxiway at the Calverton Enterprise Park. The remaining events in the “Race Track, Not Street” series will go on as planned, except they will be located on the 7,000-foot runway, where they were held last year.

Town board approves transfer of 2,100 acres in Calverton Enterprise Park to Riverhead IDA

The Riverhead Town Board today approved transfer of the town’s land holdings inside the Calverton Enterprise Park to the Riverhead Industrial Development Agency, pursuant to an agreement reached between the town and its contract vendee, Triple Five affiliate Calverton Aviation and Technology.

Updated: Town board vote to finalize land deal with Triple Five postponed

Riverhead Town will move ahead with a new agreement that aims to finalize its $40 million land deal with Triple Five Group, if a resolution on the town board’s agenda wins approval next week. Here are the highlights of the plan.

Aguiar: Town and Triple Five reach agreement on transfer of EPCAL property to Riverhead IDA; public forum set for March 8

Triple Five has agreed to move forward with the town’s proposal to involve the Riverhead Industrial Development Agency in the $40 million EPCAL land deal, Supervisor Yvette Aguiar announced this afternoon.

Aguiar accuses Triple Five of reneging on agreement hailed by officials as a way to close $40 million land deal

At issue, Riverhead Supervisor Yvette Aguiar says, is what happens if the buyer does not gain approval from Riverhead IDA. Triple Five attorney Christopher Kent denies his client is reneging on anything and says they are simply trying to work out the details.

Calverton land deal vote is postponed

A proposed resolution authorizing the transfer of land at the Calverton Enterprise Park to the Riverhead Industrial Development Agency will not be on tonight’s town board and CDA meeting agendas.

Calls on board allow public review & discussion of new EPCAL plan

In an open letter to the Riverhead Town Board, Calverton resident asks the board to delay action on new approach to closing land deal.

Triple Five subsidiary developing NJ megamall breached disclosure obligations and drained reserve fund: securities filing

The Triple Five company developing the 3-million-square foot mall has drained its debt reserve and has been put on notice by its bond servicer that it has not fulfilled its disclosure obligations under a grant agreement with the New Jersey Economic Development Authority.