Tags Posts tagged with "Suffolk County Industrial Development Agency"

Suffolk County Industrial Development Agency

An artist’s rendering of a youth sports complex and medical office that would be called Destination Kings Park. Photo courtesy Prospect Realty Partners

By Evan McAteer

DestinationKP is a relatively newly proposed development that is aiming to establish three things: a sports center for Long Island-based youth, an expansive medical center and commercial retail opportunities.

Kelly Murphy, executive director and CEO of the Suffolk County IDA. Photo courtesy Suffolk County IDA

The two groups spearheading the project are Prospect Sports Partners of New York and Agape Community Sports Services of San Antonio, Texas.

According to a Suffolk County Industrial Development Agency press release dated July 8, the IDA has agreed to support the ongoing development and that DestinationKP will be the “largest privately-owned, mixed-use sports and medical complex in the tri-state region.”

Located at 350 Old Northport Road, Kings Park, approximately 44.5 acres of land will be transformed into a “state-of-the-art regional tourist destination for sporting events, camps and tournaments.”

In a general overview of the project, DestinationKP is expected to cost upward of $92 million, and create more than 100 full-time employment opportunities. As a hub for visitors and tourists alike, the project would create steady tax revenue, as well.

In specific terms, DestinationKP will consist of six, multipurpose outdoor playing fields, and one practice field. For indoor sports, a 63,900-square-foot facility will be built, with 10 regulation basketball courts, three indoor multipurpose fields and a concessions complex. 

While Agape Community Sports Services will be handling the development of the sports-oriented facilities, Prospect Sports Partners is set to lead the commercial/medical center’s construction. This medical office building will stand on 50,000 square-feet.

According to the press release, the IDA plans on supporting the medical center’s construction: “The more-than $22.5 million investment will be leased to a tenant specializing in providing medical care, rehabilitation services and other sports-related uses to become a sports medical hub and regional tourism destination. Moreover, the complex also received a significant amount of support from the Suffolk County Economic Development Corporation through $52 million in nontaxable bonds and $17.5 million in taxable bonds.”

The economics are sound and offer traveling families a “regional sports and tourism destination,” according to Kenny Henderson, a co-owner of Prospect Sports Partners.

DestinationKP has three objectives, the first of which is offering Long Island youth a place to safely gather and engage in organized recreational sports. 

Kelly Murphy, executive director and CEO of Suffolk County IDA, said, “This groundbreaking project aims to provide our local youth, especially those encountering socio-economic obstacles, with access to organized sports opportunities that were once unavailable to them.” 

The second objective is creating an economically stimulating project for local Long Island workers.

Murphy added, “The Suffolk IDA is proud to support this project that fulfills a significant need for our children and families, while providing high-quality job opportunities as well as substantial revenue generation for local businesses and taxing jurisdictions.”

The third goal of DestinationKP is the encouragement for tourism within Long Island broadly, and near the community itself.

“Any Long Island family who has children in competitive sports will tell you about the challenges and expenses associated with traveling to out-of-state tournaments,” Murphy said. “Having this asset in our region will be an enormous draw and become a sought-after destination that will keep the economic benefits of the complex’s numerous activities and offerings right here in Suffolk County.”

Highlighting Suffolk County IDA’s Long Island First policy,” which prioritizes in-community spending and supports local businesses, DestinationKP stands as an important supporter. The project itself does not have an expected completion date, but construction and funding are well underway. More information about DestinationKP and its developers can be found at the website: www.destinationkp.com.

A rendering of the Overbay apartment complex. Image from The Northwind Group

By Kevin Redding

A new, 52-unit apartment complex being built in Port Jefferson Village this spring just got a financial boost from the town.

The $10.8 million project, which will be called Overbay, was recently approved for a package of economic incentives that includes sales tax exemption and payments in lieu of taxes, or PILOTs, by the Town of Brookhaven Industrial Development Agency.

During a Jan. 10 meeting, members of the IDA board announced the approval for the Hauppauge-based development company, The Northwind Group, to construct the 54,000-square-foot “nautical-style” apartment building on the now-vacant site of the former Islander Boat Center building on West Broadway, which was demolished by the company in February. The IDA received Northwind’s application in 2015.

Overbay would stand as the third new apartment complex built in the village in recent years. With the IDA’s assistance, it is expected to have considerably lower rent costs than the others in the area, according to Lisa Mulligan, IDA chief executive officer.

Prices for the units have not been established yet. When Northwind managing member Jim Tsunis received approval by the village building and planning department for the apartments in 2015, he estimated rents would range between $1,800 and $2,200 a month, Mulligan said.

“Just in general, the need for affordable rental housing in the Town of Brookhaven is well documented and significant, so our IDA board of directors felt this was a project that would help fill that need,” Mulligan said, adding Overbay will be especially helpful for college students and seniors. “The clientele is anybody who is looking to move out of their home and into something that’s a little easier to upkeep. There aren’t enough legal rentals that are [affordable]. A development like this one provides that option.”

Frederick Braun, chairman of the IDA, spoke of Overbay’s benefits in a press release.

“This project will bring much-needed rental housing to an area near to Stony Brook University and Port Jefferson’s Mather and St. Charles hospitals and spur additional spending in the village and the town,” he said.

The complex is also expected to create two permanent jobs — Mulligan speculated perhaps a rental agent and a building superintendent — and 150 construction jobs over a two-year period. IDA financial incentive agreements typically require the creation of jobs, both permanent and construction related.

Tsunis said the incentives will help Northwind offset the Islander Boat Center building’s $200,000 demolition costs.

“It’s going to enable me to spend more money on the building, so the end result is there will be a better product for the residents of Port Jefferson,” Tsunis said. “It’ll definitely bring people into the downtown area that will spend money at the local shops.”

Community response has long been mixed on the project, even within the village board.

Overbay’s eastern neighbor, The Shipyard apartment complex, which was constructed by Tritec Development Group, opened in January. That project secured a financial assistance package from the Suffolk County IDA and will make PILOT payments to the village for 15 years in lieu of property taxes.

The influx of new village residents without the benefit of increased property tax revenue has been a point of contention for property owners.

“I think it’s a real disaster for the village that they were able to get this financial assistance,” 30-year village resident Molly Mason said in a previous interview, referring to The Shipyard. “It’s like we’re giving away the store.”

Village Mayor Margot Garant and the board of trustees previously opposed the financial assistance granted to Tritec.