A $7.3 million project to develop a mixed-use building in Huntington Station has received preliminary approval for economic incentives from the Suffolk County Industrial Development Agency.
Blue & Gold Holdings is planning to construct a 16-unit apartment building with 4,000-square-feet of retail space to a .53-acre parcel on the northeast corner of New York Avenue and May Street.
Called the Landmark Building, the 21,525-square-foot complex will consist of 14 one-bedroom apartments and two, two-bedroom apartments.
Blue & Gold has already worked on several projects in the area as part of the ongoing effort to revitalize downtown Huntington Station. The developer began in 2016 with the ground-up construction of a building on New York Avenue and Northridge Street that brought 16 apartments over 6,500 square feet of retail space, followed by the renovation of the Manor at Northridge, the renovation of 15 Northridge St., the construction of Northridge Square and the renovation of the Mansion at New York Avenue.
The collective $26 million investment from Blue & Gold’s redevelopments have increased tax revenue from $11,500 annually to more than $347,000 during this period, according to an IDA statement.
“We set out on a mission to revitalize an area we care deeply about as a company and appreciate the continued support of the IDA in helping our efforts come to fruition,” Grant Havasy, president and co-founder of Blue & Gold Holdings, saidi n the statement. “Thanks to the IDA’s assistance, we can continue creating spaces for Long Island’s current and future workforce while also creating quality spaces for local small businesses to occupy and ultimately thrive in.”
Kelly Murphy, deputy executive director of the Suffolk County IDA, said projects like the planned Landmark Building are one of the many ways the IDA is helping the development of quality rental housing as well as bolstering the appeal of regional downtowns.
“The efforts of this developer and their drive to truly be a formidable partner in downtown Huntington Station’s redevelopment cannot be understated,” Murphy said in the statement. “We are excited about the progress they have already made and are confident this next project will be just as transformative as the rest.”