Digging into the Hamptons’ biggest projects

New York Real Estate News, By Richard Murdocco

July 05, 2017  Revitalizing mixed-use in Riverside Renaissance Downtowns, a developer also based in Plainview, is looking to revitalize Riverside, an area that many in the community felt was ignored for decades.

 

Renaissance’s plan for the hamlet calls for 2,267 housing units, including a combination of affordable housing and market-rate apartments. In addition, the proposal calls for 62,000 square feet of professional and medical offices and more than 133,000 square feet of retail space. A rendering of Renaissance Downtowns’ plan for a mixed-use development in Riverside, which includes 2,267 housing units

The project would essentially triple the housing units in the area, which is on the western end of the Town of Southampton. The median income in Riverside is about $34,000 a year, according to Newsday. Renaissance has been working to build the infrastructure needed for the project, a complex undertaking thanks to the site location’s mixed municipal jurisdictions, which include the towns of Riverhead and Southampton.

In May 2017, the project saw its first large-scale investment in the site’s infrastructure when Suffolk County broke ground on $5.25 million worth of improvements to a traffic circle. “The area has no infrastructure,” Sean McLean, vice president of development and planning for Renaissance Downtowns, told TRD. “There has been nothing added for 80 years … These improvements to the circle significantly increased the viability of what we’re doing. It was an integral part of starting construction.” The project also needs to establish wastewater treatment for the site. Such hang-ups over wastewater treatment are common across Suffolk County, but in recent years, a countywide focus on improving water quality has opened the door for smaller, less traditional options regarding the approaches developers can take when it comes to mitigation of wastewater impacts.

Renaissance is looking to the Town of Riverhead’s sewer system for the short-term, and hoping to secure a longer-term solution from the Town of Southampton. Though the project still exists only in renderings, McLean feels that Renaissance’s efforts have helped empower an area that hasn’t been civically active in the past. “It’s always refreshing to work with a series of governments and communities who are fighting for the same things,” McLean said, stressing that they are trying to ensure what he called “net-positive economic and environmental benefits” for the community

2017-08-29T20:25:29+00:00