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Brookhaven IDA Closes One Economic Benefits Package For The Hub Transit Oriented Development in Ronkonkoma

Brookhaven IDA Closes One Economic Benefits Package For The Hub Transit Oriented Development in Ronkonkoma

11/15/17

FARMINGVILLE, NEW YORK (Nov. 15, 2017) –Frederick C. Braun, III, chairman of the Town of Brookhaven Industrial Development Agency (IDA), announced that the IDA has closed on a package of economic benefits for Phase 1 of Tritec Real Estate Co.’s planned Ronkonkoma Hub Transit Oriented Development project, which is soon expected to break ground.

The package was approved unanimously in 2014, but did not close until recently because the project required a host of additional approvals, including sewer connections, and the acquisition by East Setauket-based TRITEC and its partner of various properties at the Hub from private owners.

The total project, valued at $538 million, is expected to feature up to 1,450 apartments and 545,000 square feet of retail and office space on 50 acres near the Long Island Rail Road station in Ronkonkoma. Many of the apartments will be priced to appeal to young people and seniors.

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