Brookhaven IDA closes on incentives package for Brookhaven Venture

Farmingville, NY According to Frederick Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA), the agency has closed on an incentives package for Brookhaven Venture, LLC to develop 292 residential units, along with a seven-acre public park. The units will be comprised of a mix of 164 two-bedroom, two-bathroom units; 77 two or three-bedroom townhomes with two and 2.5 bathrooms; and 51 single-family detached-style cottages with three- or four-bedrooms. 10% of the units will be designated affordable housing.

The $135 million project is located on 62 acres on Horseblock Rd. and will include the construction of a residential community, a public park and community facilities.

“BRP is thrilled to be making our foray into the Long Island market with the development of needed residential and affordable housing options in the area as well as a park amenity for the community,” said Meredith Marshall, co-founder and managing partner at BRP Companies. “We’re looking forward to watching this project come to fruition and to our continued work with the Town of Brookhaven and all project partners.”

“Safe and legal rental units are much-needed on Long Island and we welcome projects such as this,” said Braun. “Housing options like these will hopefully stop the ‘brain drain’ of our younger generation of Long Islanders from leaving the area because they cannot afford to live here.”