News: Long Island

Federal Realty plans redevelopment at Huntington Shopping Center

Huntington Station, NY Federal Realty Investment Trust has unveiled a complete redevelopment of Huntington Shopping Center, including the addition of Whole Foods.

A $75 million investment will result in updated façades, reconstructed parking lots, new landscaping and walkways, and outdoor seating areas at the center, which sits adjacent to Walt Whitman Mall on Rte. 110.

“Bringing Whole Foods to this location jump starts a long-awaited redevelopment of Huntington Shopping Center,” said Mark Brennan, VP of regional development at Federal Realty Investment Trust. “With our investment, we’ll reinvigorate the destination and deliver on our aim to provide essential retail at convenient locations with services and shopping to benefit our community.”

This 21-acre community shopping center is home to national retailers including PetSmart, ULTA, Tilly’s, and Michaels. All current tenants will remain open during construction, and once redevelopment is complete, there will be a total of 277,000 s/f of retail at the site. Two new entrances, one on New York Ave., and one on Rte. 110, will improve access for both shoppers and deliveries. Each storefront will be refreshed with updated signage, lighting, and facades. Two new pad sites will be constructed to accommodate up to three tenants each. The redevelopment is expected to be complete in 2024.

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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.