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Serota Properties Bram Weber and Michael Cassidy Presenting

August 19, 2011 @ 12:00 am EDT

Bram Weber and Michael Cassidy – August 19, 2011

 

This morning we had a presentation on a large multi use development project in the Town of Islip. The presentation was delivered by developer Serota Properties’ Michael Cassidy and Bram Weber of the Weber Law Group, who are representing the company.

 

Islip Pines

The Plan calls for a multi-use development that includes residential, commercial/industrial and retail uses on approximately 136 acres. It is located where Sunrise Highway and Veterans Memorial Highway meet.

 

Housing

The housing is one and two bedroom residences that should be attractive to singles in the workforce housing market and people who are downsizing. The implication here is that it will generate real estate and school tax but are not expected to generate many school children. The net effect on the area should be positive. The developer expects the price of the units to be in the 250k range.

 

Retail

This walkable community will have local retail stores that will be convenient and attractive. Landscaping and generous sidewalks with dining opportunities tend to make it hospitable.

 

Industrial/ Commercial

Instead of risking the future to unplanned warehouse and other uses that are permitted under present zoning, the developer would like to see quality smaller industrial development and significant commercial development that could employ the residents of the plan. Under that rubric a 200 room hotel is planned as well as a cinema.

 

Open Space

Approximately 4.1 acres will be set aside for, tennis courts, playing fields and a first class recreational building. With parking. All of the facilities will be open to the surrounding Islip residents as well as the on-campus residents.

 

Economic Impact

There will be about 900 construction jobs generated during the 3 ½ years of construction and 2600 permanent jobs when the plan is fleshed out. Presently the property generates less than $500K in taxes. After being developed the estimated tax collection goes up to $6 million.

 

Energy

The plan calls for energy efficiency in all of the structures, low water use landscaping plantings, cool roof technology, use of renewable energy resources. And locally produced building materials that meet that criteria. The energy plan is includes having the LIPA lines run underground.

 

This meeting gave the presenters an opportunity to meet some of our members. At LIMBA we encourage the networking with the presenters and there were many discussions after the meeting closed. For more info and conceptual drawings go to

 

http://www.serotaproperties.com/islip_pine.html   

Details

Date:
August 19, 2011
Time:
12:00 am EDT