News: Spotlight Content

Developing Long Island: Garvies Point and Village Square

Ann Fangmann

 

Pamela Panzenbeck

 

Glen Cove, NY The Glen Cove Community Development Agency (CDA) and Industrial Development Agency (IDA) have been capitalizing on the momentum of successfully implementing mixed-use redevelopment projects at the Glen Cove Creek Waterfront (Garvies Point) and downtown (Village Square), infusing over a billion dollars of public-private partnership, including over 1,200 residential units, over 28 acres of public amenities and open space, and the opening of new ground floor businesses. 55 of the units developed so far at the waterfront are affordable rental housing units at The Green, with 56 affordable condominium units planned for the next phase of the overall Garvies Point project. 

Glen Cove’s population grew by more than 5% from 2010 to 2020, primarily a result of these projects. In July 2024, the Glen Cove City Council unanimously adopted the City of Glen Cove Smart Growth Comprehensive Plan with Sustainability Elements, built on a foundation of robust public support. The comprehensive plan recommends increasing opportunities for planned unit development at the waterfront and in early 2025, the Glen Cove City Council approved zoning changes that support the redevelopment of over 15 acres of brownfields at the former Konica Minolta industrial site, which will augment the over three decades of brownfield clean-up and redevelopment of 56 acres achieved at Garvies Point. The adopted zoning amendments at the Waterfront incentivize affordable and workforce housing, as well as housing for seniors and first responders. In the words of chairperson Pamela Panzenbeck (also city mayor), “The transformation we’re seeing at the Waterfront and downtown reflects a bold vision for Glen Cove. Looking ahead, Glen Cove is poised to lead the way in smart growth, turning challenges like brownfields into opportunities that will benefit generations to come — we’re not just growing, we’re redefining what a modern city can be and building a community where families will choose to put down roots.” Glen Cove is continuing to move forward!

MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.