Subscribe for access to the latest digital and special editions. IDA Chairman Richard Kessel said the annual PILOT payments would exceed the taxes paid on the vacant property. padding-top:0px; The superblock project will include 238 apartments, 200 condo units and a restaurant. Necessary cookies are absolutely essential for the website to function properly. There will also be 30 units of workforce housing with significantly reduced rents. David Burman, Jan Burman, Steven Krieger and Jon Weiss launch B2K Development. . Cost: $1 billion. Due to the controversy with the project, the city created a committee for immediate feedback. As far as Im concerned, it will enhance the economy of Long Beach and Nassau County. Leasing Specialist/ Event Coordinator. The city reclaimed the site for unpaid taxes in the 1980s and sold it to a development group led by the Haberman family, which planned to build high-rise residential towers there. #wpsm_counter_b_row_47 .wpsm_counterbox .wpsm_number{ San Francisco } Engel Burman received a tax break from the Nassau Industrial Development Agency and will get a credit on the first $2.5 million in permit fees, because the city already received that money from iStar. Necessary cookies are absolutely essential for the website to function properly. B2K Development is a fully integrated real estate company with an exemplary portfolio of residential, commercial, senior living, and healthcare properties. of the Jamaica Terminal transit hub, and is slated for completion in 2024. The Engel Burman Group said it is in contract to purchase the six-acre property, and is exploring a "visually appealing" development that may include a mix of apartments and condos with retail. , 1,200 residential units, office space, commercial and event spaces and a variety of green spaces, including the redevelopment of the nearby Southside Park. Engel Burman received a tax break from the Nassau Industrial Development Agency and will get a credit on the first $2.5 million in permit fees, because the city already received that money from iStar. The project is expected to generate $130 million in new taxes over the first 25 years, Engel Burman said on its website. The development's808 units will be split between its two towers the South Tower, with 471 units across 27 stories, and the North Tower, with 337 units across 26 stories. On-site removals of fill and debris is expected to be complete within the next 2-3 weeks. Your California Privacy Rights/Privacy Policy. } All rights reserved. We also use third-party cookies that help us analyze and understand how you use this website. B2K Development: Building a Better Tomorrow, B2K Development The project from Blue Communities will bring 54 rental residences in a six-story, 101,000-square-foot building[], The three highest-priced home sales in Westbury last month ranged from $925,000 to $1.3 million. A new sewer main line is being installed on Broadway between Riverside and Long Beach Boulevard. Company president Steven Krieger reminded that while B2K will be conducting business in other states it will still have a significant Long Island presence. Long Beach, NY 11561. Both towers will sit on a shared parking deck with space for 664 cars. Subscribe to our emails. . The $369 million project will include boardwalk-level retail, a restaurant and parking for a thousand cars. 4. The 1.2 million square foot development will feature two, nine-story condominium buildings (200 units total) and one, ten-story apartment building with 238 units. . font-size:60px; The Superblockhas had a long, strange trip on the road to redevelopment. We have the means, skill, and resources to realize our potential to become a significant national company. Currently the project is tracking on time per Engel Burman's residential construction vice-president. #wpsm_counter_b_row_47 .wpsm_row{ Jericho-based Engel Burman Group and its development partners Harrison Street Real Estate Capital are beginning construction tobring 438 rental and for-sale residences tothe 6-acre waterfront parcel located between Long Beach Boulevard and Riverside Boulevardoftenreferred to as the Superblock. Thank you to all who came out and supported us at the groundbreaking for our new communities, Isla Blu and The Breeze, in Long Beach. Manhattan-basediStar had proposed to build 522 apartments in two 15-story towers and about 11,500 square feet of retail space on the Superblock property, but the Nassau IDA denied its applicationfor $109 million in tax breaksin 2016. The move also paves the way for current developer Engel Burman to start building hundreds of apartments and condos, as well as a restaurant on the property. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The Executive Circle Awards celebrates c-suites, directors and other senior level executives who consistently demonstrate remarkable leaders[], The Real Estate, Architecture & Engineering Awards honor those who help create and build Long Islands future, and recognizes some of [], The 30 Under 30 Awards honor the bright and dynamic young professionals who are under the age of 30, who contribute to the Long Island commu[], Rendering of The Breeze apartments in Long Beach. padding-top:0px; Topics you care about, straight to your inbox. Engel Burman has begun construction at the Superblock. The install of the CFA piles is still ongoing, this work expected to wrap-up by the middle of February. The first phase of GID Development Group's High Street Atlanta master-plan, known as the Green District, will situate 600 luxury residential units, 150,000 square feet of retail and restaurants, 90,000 square feet of new office space and 225,000 square feet of existing office space around a new, -acre public park. color:#758ba8; The building we all saw today was a testament of teamwork from the county, the city and labor and the team at Engel Burman, Krieger said. Jericho-based real estate company Engel Burman owns the construction contract to build two nine-story condos and one 10-story apartment building. Currently, the company is in the midst of construction of a 438-unit condo/rental complex on the long-vacant property known as the Superblock in Long Beach. Engel Burman principals form new development firm. text-align:center; You're still seeing Miami and Chicago and Boston, but it's not as concentrated in New York City as as we saw prior to the pandemic.". Senior Living. The$369 milliondevelopment will bring 238 rental apartments in a 10-story building calledThe Breeze,200 condominium residences in two nine-story buildingscalled Isla Bluand about 6,500 square feet of retail space to the long-vacantsite. The 238 rental units will make up a 10-story building known as The Breeze, and the remaining 200 condo units will be split across two nine-story buildings known as Isla Blu. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Our professional reputations were created here and there remain significant opportunities for our partnership.
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