The Great Neck Village Board voted Tuesday to rezone a contaminated waterfront fuel storage site, setting the stage for a developer to build a luxury apartment complex.
The board voted unanimously to create a new waterfront residential district at 240 E. Shore Rd., which houses old fuel tanks.
The move will allow AvalonBay Communities Inc. to build a $75 million to $80 million, 191-unit luxury apartment complex on the site, with units renting for as much as $5,000 a month.
The village had been considering AvalonBay's development proposal since it came before the board last year.
The Nassau County Industrial Development Agency held a public hearing last month on AvalonBay's application for a 15-year reduction in taxes, which Great Neck Mayor Ralph Kreitzman said the village did not oppose.
"As a matter of principle, I don't think it should apply to a project like this," Kreitzman said at Tuesday's meeting in response to a resident's concern about the tax reduction.
But, he said, the village did not want to jeopardize the development.
"This project is very important in cleaning up this environmentally contaminated land and getting rid of those old fuel tanks," Kreitzman said.
AvalonBay also would give the village a community benefit payment of $885,000 that can be used for village improvements, Kreitzman said.
Christopher Capece, senior development director for AvalonBay, said the next step is to get approval from the state Department of Environmental Conservation on how to clean up the site.
AvalonBay will also have to get village approval for its site plan and architectural details before it can get a building permit, Kreitzman said.
"We have the expertise to make this happen," Capece said. "I think we have the right players in the room together."