The Real Deal New York

Tax breaks sought to convert Plainview hotel into senior housing

January 21, 2019 10:42AM

Capitol Seniors Housing is in contract to buy a 170-room Residence Inn by Marriott in Plainview for $20.25 million and invest another $11.7 million into the property to transform the building into a senior housing complex, Long Island Business News reported. But in order to do so, the developer wants to get some help from Nassau County’s Industrial Development Agency. Capital Seniors, represented by the Uniondale-based law firm Forchelli Deegan Terrana, has requested millions of dollars in tax breaks over 20 years, Newsday reported. The agency’s board of directors have agreed to negotiate with the developer. Washington, D.C.-based Capitol Senior already runs 23 senior living developments in nine states and is building another 10. The Residence Inn, which closed late last year, is on a Plainview property currently owned by developer Donald Monti, chairman of Renaissance Downtowns. [Newsday]