The developers behind New Village at Patchogue, the Ronkonkoma Hub and other downtown building projects in Suffolk County are now in contract to purchase the Touro College campus in Bay Shore, greaterbayshore.com has learned.
Tritec Real Estate Company is looking to build at-market apartments over the roughly 10-acre property at 700 Union Boulevard (map below).
The developers and Touro went into contract for a yet-to-be-disclosed price over the summer, said Bob Coughlan, a principle in Tritec. No design plans have been drawn up yet.
“We’re still going through our due diligence [before closing]. As part of that, we are looking for ideas from the community, which is our modus operandi. We want to be wanted, so we work to figure out what a majority of the community is interested in to revitalize their downtown.”
It appears that Touro is looking to expand services at its Central Islip campus, where the law school is located, though a Touro spokesperson declined to comment on the pending sale.
The Shipyard at Port Jefferson Harbor is Tritec’s most recently completed residential project, which opened to renters in January.
Click here for Shipyard photos from sister site GreaterPortJeff.
Coughlan said he and his team have received nothing but warm welcomes from town officials and local business leaders, as well as from Southside Hospital, which is also located in Bay Shore’s downtown.
“Bay Shore has some great restaurants, and it’s such a young vibe there, the hospital is growing and we want to be a part of it,” Coughlan said, adding the company’s stock of luxury apartments are known to attract younger people and retirees alike.
Coughlan also emphasized that Tritec is willing to meet with any community groups that are interested in offering feedback and advice on the project.
“We will be looking to incorporate some of the architectural styles of the buildings that were built along Bay Shore’s Main Street in the years past,” he said. The company also did so in Patchogue and Port Jeff.
He called the Touro property ideal for Tritec Real Estate, given its proximity to Main Street and the LIRR station. The company’s focus has been on walkable communities and revitalizing downtown areas.
“And [the property in Bay Shore] is walkable to the hospital and the Fire Island ferries,” he said. “It’s a mile on two different roads to Sunrise Highway. So it’s ideal for pedestrian and vehicle traffic, and it’s close to mass transit.”
The existing building would be torn down. It’s likely construction wouldn’t start until the fall of 2020, he said.
“There are many people who are looking to relocate into walkable communities, both young and seniors, and we have a real dearth of available housing stock that would allow that to happen,” he continued. “And that is partly the reason for this exodus of our young and our empty nesters.”