Business News

$45M rental project advances in Mineola

A new luxury apartment development is in the works soon in Mineola.

The $45 million project from Blue Communities was approved by the Village of Mineola last week. The plan would bring 54 rental apartments to the .60-acre site at 101-105 Searing Ave.

Called The Royal Blue, the six-story apartment building will have five residences above a ground-level parking lot. There will be 46 one-bedroom units and eight two-bedroom units. Monthly rents have not yet been determined, but six of the apartments will be designated as staff housing and leased at a reduced rate.

Rendering of The Royal Blue in Mineola / Courtesy of bld Architecture

Amenities will include a rooftop deck with a pool and a fitness center on the top floor

The vacant development site, once occupied by two single-family homes, is located about a quarter-mile from the Mineola Long Island Rail Road station. The property is adjacent to Mineola’s 192-unit Fairfield Metro, a two-building rental complex developed by Mill Creek Residential that opened in 2019. Built on a 2-acre site once occupied by Corpus Christi Elementary School, it was purchased by Fairfield Properties. The development leases for $100 million in October 2020.

Mineola-based Blue Communities owns a 94-unit rental building in Long Beach and others in Far Rockaway and Yonkers. The head of the company, Doran Pergament, grew up in nearby Herricks.

“We’re local and this opportunity came up,” Pergament told LIBN “We are always looking for sites next to train stations. We also see a need for a boutique, high-end development in the neighborhood.”

Pergament said he hopes to begin construction in September or October and finish by the end of next year.

The Royal Blue project is represented by Harris Beach attorney Jack Martins, a former state senator and former mayor of Mineola. Martins credited the village’s overlay zone with allowing his board of trustees to approve the development in just one meeting rather than going before multiple boards.

“It’s pretty unique for what the village has done to streamline applications,” Martins said. “It speeds up the process and ensures a developer. This is critical, as the time it takes to get approvals affects the viability of a project.”

Royal Blue is designed by Patchogue-based BLD Architecture and VHB is handling the engineering of the project.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button