Representatives from 12 companies attended an “expressions of interest” meeting on developing a 2.8-acre plot of land that the Glen Cove Industrial Development Agency is targeting for possible eminent domain proceedings, Deputy Mayor Barbara Peebles said.
Most of the downtown land currently is owned by a company associated with Great Neck-based developer Jobco Realty and Construction, which for years has planned to construct an apartment building called the Piazza on the site. The city planning board approved the project in 2011.
City and IDA officials say even though they like Jobco’s proposal for 110 apartments, more than 25,000 square feet of commercial space and a European-style plaza open to the public, the lack of progress on the project is hurting efforts to attract other businesses downtown. A mostly vacant retail and office complex surrounded by chain-link fencing currently occupies the site.
Jobco president Michael Puntillo, whose GCVS LLC owns most of the site, said in an email Thursday that he is closing later this month on the purchase of an insurance office. That is “an investment of another half a million dollars in the project,” Puntillo said.
He said in previous emails that he and his staff have met with prospective retail tenants, demolition contractors and city officials in recent months and is “moving ahead with the development.”
Peebles said little progress has been made on the project in months, and the IDA is working on a “parallel path” of trying to goad Puntillo to start building.
Although the IDA will consider various proposals for the land, the lack of space for concerts and other public events would be “a deal breaker,” Peebles said.
At Tuesday’s meeting at City Hall, Milan Tyler, an attorney for the IDA, explained the eminent domain procedure, which would include a public hearing in the coming weeks, Peebles said.
“We wanted to make sure that those developers that are interested realize we’re serious about moving this along,” she said. “It’s not just to get Mike [Puntillo] moving. No, we really have to get this done.”