Downtown Riverhead Deadline Looms
May 13th, 2007 category: Downtown Riverhead, Real Estate News, Riverhead Real Estate
This week I want to introduce a new topic that is a growing news story while spring has sprung here in Riverhead, New York.
Daniel Wagner at Newsday reported in his article Energizing East Main, earlier this month, about the revitalization of Downtown Riverhead. I think his article is helpful in getting things moving forward on East Main.
I want to preface his article by mentioning a few of my own thoughts.
The owners of those semi-abandoned rows of retail storefronts in Downtown Riverhead on East Main St. and The Town of Riverhead need to be held accountable for the turtle pace of advancement that is taking place in Downtown Riverhead re-development. I say, Fix Riverhead Today.
Let’s hope that the Town of Riverhead sticks to it’s guns this Tuesday, May 15, concerning the conditional deadline for Apollo to develop a land-use plan. I’l keep you posted this week if Cardinale’s demands will be met.
Wagner writes that “Cardinale said the town board has demanded that by May 15 the developer present a clearer vision for the southern part of the project, letters of intent from prospective tenants, and a letter indicating whether negotiations had failed.
If they do, that could trigger a provision in the earlier agreement mandating the town to help Apollo obtain needed properties through eminent domain - something all parties said they would like to avoid.”
My feeling is that if the Town of Riverhead and Cardinale were serious, they would hang that threat over the heads of both the Appolo, and Riverhead Enterprises . Why not? Up to this point there hasn’t been any action taken on their part. The threat of eminent domain from the town could be just the fire that the two parties need to be lit under their respective hind quarters…
Read Daniel Wagner’s article, Energizing East Main in Newsday.
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December 8th, 2007 at 11:07 pm
[…] Riverhead. Riverhead Enterprises (Sheldon Gordon) and Apollo Real Estate Advisors (Richard Mack), Deadlines have loomed before. Click here for the […]