EPCAL

There's more than meets the eye in this suspenseful mix of high-end finance, jet-set real estate investors, a huge, daunting land deal and local politics.

Facing criticism over how they’re going about the massive land deal with Luminati Aerospace, Riverhead Town officials will seek additional outside help vetting the...

Members of a coalition formed with the stated purpose of preventing residential development within the Calverton Enterprise Park urged the Riverhead Town Board last night to take action against housing at EPCAL.

One week after announcing an air show to be held at the Calverton Enterprise Park in June, Luminati Aerospace has canceled the event.

Riverhead Supervisor Sean Walter said today he has signed the letter of intent with Luminati Aerospace for the sale of nearly all of the town’s remaining acreage at the Calverton Enterprise Park for $40 million.

Luminati's senior scientist and chief operating officer have left the company, as have seven other people of the 18 staff members depicted on the company's website.

Laura Jens-Smith said the town is not properly vetting suitors for land at the park and criticized the supervisor for using the site's potential as "a political football."

“Aviation and aerospace will be reborn on Long Island. It’s being re-birthed right now," former congressman George Hochbreuckner told the Riverhead planning board at a public hearing last night. "Don’t ruin this fantastic opportunity.”

With Luminati Aerospace getting its work underway at EPCAL and two potential purchasers for the balance of the town-owned acreage there, some board members are wary of green-lighting an addiction research and rehab facility adjacent to the active runway.

The terms of the sale, which will close in stages over 18 months, include a nonrefundable $1 million down payment. The developer plans to build an industrial office park