The Real Deal New York

Riverhead wants new development to revitalize depressed downtown area

December 31, 2018 01:32PM

A $25,000 grant from the New York State Regional Economic Development Council to Riverhead will be used by the municipality to study its downtown area and plan a more transit-oriented development near the town’s Long Island Rail Road station, Newsday reported. Riverhead officials want to redevelop the area, which they view as economically depressed, and attract new residents. Local officials hope to achieve those goals by creating more parking, retail and housing. The state has yet to officially release the funds to Riverhead, but once it does, the town will hire design professionals to produce a study that could take up to a year to complete. [Newsday]