Joseph Petrocelli

The Riverhead town square project took a giant leap forward on Tuesday, as the Town Board authorized an agreement with its master developer — an affiliate of the J. Petrocelli companies — to build a hotel, public plaza and playground downtown.

The Town Board will vote Tuesday to designate Riverhead town square master developer J. Petrocelli “qualified and eligible,” allowing the company to move forward with the construction of a hotel, public plaza and playground in the center of downtown.

The Riverhead town square master developer presented its vision and qualifications for developing the town square at a Town Board hearing July 22.

The presentation outlined the ongoing development of the downtown area, including plans for the riverfront and town square, and also unveiled plans for two parking garages off East Main Street not previously presented to the board.

L.I. Aquarium owner Joseph Petrocelli snipped a red ribbon to celebrate the opening of the Preston House restaurant and hotel last night.

Riverhead Town Board yesterday unanimously approved a site plan to convert an East Main Street property into a restaurant and hotel.

Atlantis Holdings and J. Petrocelli Development Associates got the financial assistance they requested from the Riverhead Industrial Development Agency tonight at a special meeting...