New York State Governor Kathy Hochul’s recent announcement of an $8 million award from the Empire State Long Island Investment Fund for the Carriage House Development on Patchogue’s Main Street couldn’t come at a better time.
“Without that grant, this project would not have been viable,” said Joseph Rossi, founder and partner with Peter Ferrandino (also founder and CEO) of Nord Development Group.
“It gave us a push in the investment standpoint. Also, Brookhaven’s IDA Industrial Development Agency pushed the project forward without dumbing it down.”
The $160 million project on 4.08 acres includes 262 units within two five-story buildings with upscale amenities, parking for 410 vehicles, affordable housing units, and a river walk—an extension of the existing tributary creek between the two buildings. It’s a partially overgrown mess right now, but that will change.
“We have $30-to-35 million targeted for the infrastructure work,” Rossi said. “New York State has to reimburse us after it’s done. But with the increased cost of construction and the highest inflation period in decades, and also interest rates, this was needed.”
West Main Street has been buzzing with machinery and take-downs since mid-August, although the project has been in the pipeline for two years.
“Right now, is the toughest part,” said Patchogue mayor Paul Pontieri of the activity. “They are putting in the pylons. It’s the length of telephone poles driven into the ground to support the building. It’s noise and vibrations.”
As for the tributary clearing, “We’re also looking to connect this to the River Walk condominium complex along that stretch that ends at Division Street,” Pontieri said.
The River Walk condos on Clare Rose Boulevard opened in 2012. Their public access walkway includes a boardwalk and four sighting areas that start at Hammond Street, abutting the Nord property.
Rossi said his company dealt directly with the Empire State Development’s Long Island Investment Fund officials.
“We just went in-house,” he said. “Rob Calarco, [Assistant Secretary for Long Island Intergovernmental Affairs] from the governor’s office, helped. From the political standpoint, he got it over the finish line.”
Hitting several of the necessary pillars for qualification was beneficial, too.
“It’s a TOD [transit-oriented development]. The project is in the heart of the downtown entryway, we’re getting rid of blighted buildings, we’re paying homage to local historical significance, and creating walkable housing to downtown,” Rossi said.
While Nord applied for the grant directly, NYS Senator Dean Murray was happy the project received the largesse.
“It’s part of a fund we put in, the Long Island Investment Fund through Empire State Development,” he said. “It’s a pot of money where we can give money for housing projects; they have to hit certain criteria. I was thrilled that two of the five awards are in my district,” Murray said.
The Carriage House was the largest project in the state’s LIIF announcement, with a total of more than $26 million in awards. The Allegria South in Bellport received a $4.5 million nod for their $53 million development of 96 units on 100 percent affordable housing on seven acres, the second largest project in the group.
While groundbreaking had already begun, a formal ceremony took place on Oct. 27.
