Syosset Park developers consider a pivot to industrial facilities over original resi plans

New York /
Mar.March 18, 2019 02:05 PM

The developers behind the 93-acre Syosset Park project could soon revise or entirely drop their plans to build 625 residences for the mixed-use development, Long Island Business News reported. The original plans for the site called for a town center with residences; 464,000 square feet of retail, entertainment and restaurants; 200,000 square feet of office space; two hotels with 350 total rooms and a 30-acre park. The area currently contains the former Cerro Wire facilities, the Town of Oyster Bay’s public works facilities, its animal shelter and the former Syosset landfill. Locals feared the new housing would be burdensome for the school district and potentially expose residents to hazards from the onetime landfill and Superfund site. In response, developers led by Indianapolis-based shopping mall giant Simon Property Group, the Garden City-based Albanese Organization and Manhasset-based Castagna Realty plan to revise the housing portion of the project and erect more industrial buildings, since the area is already zoned for industrial use. LIBN reported that such a switch would allow Syosset Park’s developers to take advantage of a hot market for industrial properties, thanks to an e-commerce boom that has created a surge in demand for warehouses and distribution centers. The developers had planned to pay for environmental tests of the area. LIBN noted that last month the Syosset Park Citizens Advisory Committee had selected Bohemia-based Impact Environmental for the task. [LIBN]


Related Articles

arrow_forward_ios
Photo Illustration of Urban Edge CEO Jeff Olson and Sunrise Mall in Massapequa, NY. (Getty, Urban Edge)
Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
Nassau Coliseum and Nick Mastroianni (Getty)
Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary
Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary
TRD’s favorites wines, spirits and non-alcoholic beverages. (Getty, Amazon,
These nine drinks will help you toast the new year
These nine drinks will help you toast the new year
Nassau County residents impacted financially by the pandemic will be eligible for rent relief (Getty)
Nassau County offers $6 million in rent relief
Nassau County offers $6 million in rent relief
Suburban condos get competitive
Suburban condos get competitive
Suburban condos get competitive
23 Ezekillis Hollow in Sag Harbor (Photos courtesy of Compass)
Year’s most expensive home in Sag Harbor sold for $15M
Year’s most expensive home in Sag Harbor sold for $15M
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)
Hotelier buys waterfront Boca Raton home for $6M
Hotelier buys waterfront Boca Raton home for $6M
Long Island is aiming to keep the business it grabbed from the city during the pandemic, and it now knows how. (iStock)
Long Island plots to keep its pandemic gains from NYC
Long Island plots to keep its pandemic gains from NYC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...