Glen Cove project to have more rentals

Citing a changing economy, the team behind Glen Cove's large waterfront redevelopment has reversed the project's housing mix.

Sixty-five percent of Glen Isle's 860 units are now planned to be rentals, with the remainder to be condominiums for purchase. Two years ago -- when a draft environmental impact statement was first presented -- 79 percent were designated to be for sale.

The project developers revealed the change in the final environmental impact statement that will considered in a public hearing on Sept. 20.

"A number of market studies have told us Long Island is significantly underserved in the rental area," said Mitchell Hochberg, managing director of RXR-Glen Isle Partners, developers of the billion-dollar project. "We saw an opportunity. People, at least for now, because of the instability of the economy, like the flexibility."

While the shift addresses a need -- a 2010 Long Island Index study reported the region's lack of apartments driving away young professionals -- it comes at a time when "rentals" remains a dirty word among some homeowners and officials.

One objection to Glen Cove's downtown Piazza project, which was approved last month, was over its 142 apartments, even though they're envisioned largely for medical students. Some residents said at public hearings that rental apartments would help turn Glen Cove into Queens.

Farmingdale residents have opposed that village's new downtown master plan, which proposes allowing apartments above retail. Farmingdale Mayor George Starkie called increased residential density the "third rail of government."

In Hicksville, a chamber of commerce plan to revitalize the hamlet's transit center met some resistance from Town of Oyster Bay leaders. Supervisor John Venditto said there would be no "cool downtowns" in Oyster Bay, referring to neighborhoods with high-density residential development, bars, art galleries and shops.

But Glen Cove Mayor Ralph Suozzi has long supported restoring the downtown living model. Glen Isle "satisfies housing options not available today, and puts us in a 'moving forward' position," he said Thursday. "We're trying to create vibrancy."

Paul Meli, who will challenge Suozzi for mayor in the November election, wondered if Glen Cove is building more apartments than it can support.

"Certainly owners are more likely to put down roots in the community," he said.

Glen Isle, encompassing more than 50 acres of former Superfund industrial sites along Glen Cove Creek, also includes a 50,000-square-foot office building, 25,000 square feet of retail, a 250-suite hotel and 19 acres of parks and open space.

Once the city issues a special-use permit for the project, developers can apply to begin the first phase, perhaps as early as next spring.