Elected officials and civic leaders joined Tritec Real Estate in digging into the dirt at the ground-breaking ceremony for its new development project in the Village of Lindenhurst.
The East Setauket-based company — which has developed several big projects across Long Island such as New Village in Patchogue and the new Ronkonkoma Hub — will be constructing The Wel, a 260-residential apartment complex at 75 East Hoffman Avenue.
The ceremony, held on Wednesday afternoon, drew a massive crowd of supporters on the sun-splashed day.
“We’re excited to be here and excited to be a part of this community and part of the revitalization happening before our eyes,” said Robert Coughlan, co-founder of Tritec, to the large group. “Lindenhurst is a very active and engaged community.”
The $102.6-million project will be erected on an about 7-acres of land at the site that last held Lakeville Pace Mechanical.
Scheduled to be completed in spring 2021, the designs feature a mix of studios, one-bedroom, two-bedroom, and three-bedroom units. There will be 26 apartments for workforce housing.
By being across the street from the LIRR station, and its proximity to an up-and-coming downtown, Tritec says its targeting Millenials and empty-nesters.
“Long Island desperately needs a project like The Wel to keep our young, our seniors here on Long Island — and to keep us competitive with the rest of the United States,” said Coughlan.
According to Tritec, they anticipate the new residents will contribute between $5 million and $7 million annually to the local economy.
The project was proposed in 2014, and later approved in 2017 by the village zoning board
The four-story complex got an extra shot in the arm last year when the Babylon Industrial Development Agency agreed to give Tritec a 30-year tax abatement worth around $28 million, according to the Long Island Business News.
Since then, The Wel has been highly anticipated in the village.
“It’s a catalyst for a lot of other growth,” said Lindenhurst Mayor Michael Lavaorata. “We’ve already seen the restaurants come in and new businesses opening.”
Over the last year, some of the new businesses to come to the revitalized downtown include Restoration Kitchen, Bakuto, 27A Brewing Company, and Muni’s Coffee Joint, among others. Another big addition includes Sand City Brewing Co., which will be taking over the long-vacant CVS building at 150 S. Wellwood Avenue in the 10,000-square-foot building.
“Lindenhurst has been through a lot over the years,” said RJ Renna, a village trustee and board member for the Lindenhurst Business Improvement District. “We had the recession that really hurt our downtown, [Hurricane] Irene destroyed us on the shore, and then [Superstorm] Sandy came.
“Today, we stand here at a site for an amazing opportunity for our community.”