Triple Five

The company involved in the pending $40 million land deal with Riverhead Town has run into financial trouble with its mega-mall in Minnesota due to the COVID-19 crisis, which has halted completion of Triple Five's long-delayed American Dream mall in the New Jersey Meadowlands.

Calverton Aviation & Technology is ready to close on its $40 million land deal with the Riverhead Town Community Development Agency and move forward with the development of the site, according to the company’s attorney, Christopher Kent.

Calverton Aviation & Technology, the company in contract with the Town of Riverhead to purchase most of its remaining vacant land at the former Grumman site in Calverton, will submit updated financial documents to the town to demonstrate its ability to close the deal and develop the property.

A week after the long-delayed partial opening of its American Dream project in the Meadowlands, New Jersey, Triple Five has announced a joint venture with a Saudi real estate company to build “the world’s largest entertainment and shopping center” in Riyadh, Saudi Arabia.

If the State of New York and the billionaire-backed Shinnecock/Seminole partnership decide to develop a casino at EPCAL, will Riverhead have anything to say about it?

An eight-lot subdivision that will allow the Town of Riverhead Community Development Agency to sell 1,644 acres of vacant land at the Calverton Enterprise Park gained preliminary approval today from the Riverhead Planning Board.

Calverton Aviation and Technology has given Riverhead Town notice of its intention to proceed to closing.

A German company that sold a $147,000 embroidery machine to Luminati Aerospace has filed a federal lawsuit claiming that the Calverton company failed to make nearly $100,000 in payments owed and seeking a money judgment and recovery of the machinery.

Riverhead will retain new outside legal counsel to advise the town about its options in the Calverton land deal in light of the legal troubles of Luminati Aerospace, a principal in the deal and the centerpiece of the purchaser’s development plan for the site.

Luminati Aerospace owes the Town of Riverhead tens of thousands of dollars in past-due runway rent, false alarm fees and real property taxes, according to Riverhead Town records.