Triple Five

The Triple Five subsidiary that bought the Dowling College aviation campus in a bankruptcy proceeding in 2018 has been forced to terminate its benefits agreement with the Brookhaven Industrial Development Agency.

In first public appearance in Riverhead Town Hall since Triple Five signed a $40 million land deal in 2018, company chairman Nader Ghermezian told the town board Triple Five wants to close as soon as the town is able.

Riverhead Town has filed a lawsuit challenging the DEC’s handling of a n application for a permit needed to subdivide vacant land at the EPCAL site and the agency's position that Suffolk County Water Authority, not the town, has the right to supply water to new development there.

Arieli Capital, a technology and innovation holding company with offices in Israell and New York, brushed aside questions raised during a Chamber of Commerce Zoom meeting about the dissolution of a recent partnership for an innovation accelerator with NYU's Tandon School of Engineering, citing a nondisclosure agreement. A partner in the firm said it would "help unlock Riverhead's economic and employment potential."

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.