June 2010 Farmingdale, NY - Posillico Development in its partnership with Scott Rechler and Donald Monti (RXR Glen Isle Partners LLC) were announced as Vision Long Island's 2010 Smart Growth Award recipient for Best Mixed Use Project.
The project consists of a team of experts from Posillico, RXR and Concord Management who have diligently worked with design professionals from Planning and Architecture, (Beyer, Blender, Belle) Engineering (Paulus, Sokolowski & Sartor) and Economics (Economic Resources Associates). Regional and world renowned individuals from the public and private sectors have also focused their time and energy to produce an exciting and ambitious mixed use re-development project under the National United States Environmental Protection Agency Brownfield Showcase.
The construction of the building structures has not yet commenced; however nearly 140 million dollars of private and public funds have already been committed or expended to clean up the environment and to reconstruct bridges and roadways. Construction for a new ferry terminal service to Manhattan and other metropolitan areas is tantamount to the success of the project which broke ground on June 1, 2010. Much of the work to enhance the adjacent parks and open spaces has already been completed or is underway.
The project as proposed includes 860 residential units, 250 key hotel rooms, a luxury spa and retail and office space. There are 2 marinas planned for large and small transient vessels. Ten percent of the project is also designated for workforce housing.
RXR Glen Isle Partners LLC along with the City of Glen Cove, NY continues to work on finalizing environmental approvals and completing preparation to commence vertical development as critical infrastructure continues to be built.
For more information on the Glen Cove, NY project and Posillico visit our website at www.posillicogroup.com
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