Triple Five Group
Riverhead cancels Luminati runway use agreement, licenses EPCAL taxiway to rocket engine start-up Launcher
Riverhead Town has canceled the runway use agreement it signed with Luminati Aerospace and has authorized a license agreement with tech start-up Launcher Inc. for use of part of the runway taxiway.
"We are looking to transform the economy of the East End and one day this region could be recognized as the Silicon Valley of the east. It's a big goal, but it starts with a first step." Chris Kent, attorney for Calverton Aviation and Technology, laid out the company's vision for the Calverton Enterprise Park in general terms at Thursday's town board work session.
The document, obtained through a Freedom of Information Law request to the State DEC, shows "an initial layout" and "a work in progress," according to the developer’s representatives.
It's been more than two months since the town learned of Luminati Aerospace's mounting legal and financial troubles — and CEO Daniel Preston's intention to move his operation off Long Island. Where does that leave the town? We still don't know.
Triple Five says it will pay Luminati’s arrears owed Riverhead Town for taxes, runway use and alarm fees
Triple Five says its affiliate, Calverton Aviation and Technology is committed to fulfilling its obligations under the contract with Riverhead Town.
Luminati Aerospace facing eviction by EPCAL landlord and lawsuit by investor over alleged default on $10 million loan
Luminati Aerospace, an owner of the company in contract to buy 1,643 acres of vacant land at the Calverton Enterprise Park, is facing eviction from the manufacturing building it leased at the enterprise park and is being sued by a principal investor for alleged default on a $10 million promissory note and mortgage in its real property and equipment at the industrial park.
Town Hall Notebook
Negotiations continue in deal with Triple Five: Riverhead will review applicant’s additional financial information
Riverhead Town officials have agreed to review the additional financial information Triple Five Group has offered to provide at the town's request.
Tech and aviation companies, from Maglev to space rocket developers, say they want to work at EPCAL during hearing
Several technology and aviation companies expressed interest in working at EPCAL with Triple Five at the hearing, including a Maglev technology developer and a start-up designing rockets to launch miniaturized satellites into space.