A litany of speakers took to the podium Tuesday in Ronkonkoma to celebrate the latest apartment complex opening at Station Yards — which used to be referred to as the Ronkonkoma Hub.
The Core Station Yards comprises 388 apartments and more than 80,000 square feet of retail and office space in the heart of the 53-acre redevelopment project, being built over what was blighted land across from the LIRR station.
And there are plenty of bars, retail and restaurants lined up.
Two major themes emerged Tuesday in reference to the overall effort by the developers, Tritec Real Estate Company.
First, nearly all the speakers highlighted the importance of developers and elected officials working closely with a community, including its civic and business leaders, when embarking on any regionally transformative project such as the one being celebrated.
Second, Station Yards and other projects like it are being built to keep young people from fleeing Long Island.
New York Governor Kathy Hochul certainly drove that second point home.
“Without projects like this, people have to pack up and move away,” she said. “And that’s a tragedy.”
As did state Senator Dean Murray:
“It’s projects like this that will keep [young people] here, keep their families here, and keep the next generation here,” he said.
And Brookhaven Town Councilman Neil Foley:
“My sons and I went to a Rangers game in the spring of this year,” he said. “We took the train here and my two oldest two sons took a look at this project and said, ‘Oh my God, Dad, what is that?’
“I said, ‘That’s probably where you’ll be living in four or five years.'”
God willing, because the apartments at The Core Station Yards, 388 in total, with another 489 at its neighboring complex, The Alson, aren’t exactly cheap.
Aside for the units carved out for workforce housing, a one-bedroom apartment currently starts at $2,785, with 2-bedroom units starting at $3,329, according to the website.
But Tritec Real Estate co-founder James Coughlan, whose company is still re-developing the acreage, said the laws of supply and demand cannot be ignored. And when it comes to top-rate apartment living — or apartments in general —Long Island is crucially short on supply, he said, especially when compared with other highly populated counties in the U.S.
(He also said it costs about $600,000 per unit to build Phase 2 of the project.)
Still, since welcoming its first residents in April, The Core Station Yards is currently 80 percent leased, and 75 occupied, announced Tritec executive vice president and partner Kelly Coughlan Heck, to applause.
When everything is fully built out, the redevelopment project will bring 1,450 new homes to the center of the island, with lots of bars, restaurants, banking and shopping options as well. To that end, Tritec also hosted a groundbreaking ceremony Tuesday on what’s referred to as Phase 2A, which will bring another 175 new apartments to Ronkonkoma.
That component of the project is expected to be completed in 2026.
“It’s extraordinary in scale, $1.2 billion and over 1,400 housing units, my gosh, ” Hochul told attendees. “If we had this in more places we would not have the dynamic from which we’re suffering from right now …. our kids and grandkids are living in other states. Namely, Connecticut and New Jersey. Do you know why?
“Not because they have better weather; they don’t have lower taxes. They met the demand of their communities …”
Top: New York Governor Kathy Hochul joints Tritec executives and elected leaders Tuesday to celebrate the opening of The Core Station Yards, formerly referred to as the Ronkonkoma Hub. (Credit: Michael White)
