Real Deals

Polimeni’s condo complex passes muster in Mineola

Mineola Mayor Jack Martins and the village board voted 5-0 last week to approve the nine-story condominium development that Polimeni International planned for Old Country Road. The vote received a standing ovation from those in attendance at the Village Hall meeting.

Headquartered in Garden City, retail specialist Polimeni has spent years buying up the mostly two-story buildings in preparation for a u-shaped complex called the Winston, which will have 285 market-rate condos, according to Michael Polimeni, vice president. A striking glass dome that covers a rooftop health club is a highlight of the $165 million project.

The project increases density, but will bring new life to the downtown area surrounding it, the mayor said. It is about a block from the Mineola Long Island Rail Road station.

Martins said the site of the Polimeni plan is “an appropriate location for this type of density.” Because the condos would be surrounded by office buildings, vehicular traffic wouldn’t be an issue, according to Martins. But pedestrian traffic will increase, said the mayor, and enliven a near-dormant downtown.

The condo proposal includes a makeover for the 117,000-square-foot office building next door – also Polimeni’s – to match the exterior of the residential development.

Michael Polimeni said the condos would take about 18 months to complete and would be priced from under $500,000.

Transit-oriented discussion

The Society for Marketing Professional Services held a panel discussion on transit-oriented development last week at Jericho’s Milleridge Inn. And Mayor Martins was right in the middle of it.

Attendees heard from moderator Eric Alexander, Vision Long Island’s executive director, and panelists Martins; Charles Bartha, an engineer and infrastructure expert; architect Alex Latham; attorney and MTA board member Mitch Paley and developer Vince Polimeni on the virtues of building housing near railroad stations to create walkable communities.

The success of Mineola’s master plan and overlay district, which encourages residential development in the village’s transit-centric downtown, was one of the topics. Now that the village is seeking proposals for new housing, even allowing for flexibility in zoning requirements, residential developers are focusing on Mineola.

LPGA to LI?

With the return of the U.S. Open to Bethpage next year, rumors are circulating about a Ladies Professional Golfers Association tour event coming to Long Island in the near future.

But it’s just rumor, according to Michael Pascucci, the owner of Sebonac Golf Club in Southampton, where the women’s golf tournament was supposed to be headed.

Opened in 2006, Sebonac is a 7,286-yard, par 72 layout designed by Jack Nicklaus and Tom Doak. The LPGA didn’t return a request for comment.

Printer expands

Antares Information Technologies, a corporate printer in Central Islip, said it will create 105 jobs and spend $12 million in renovations and equipment within the next five years.

The company is seeking Town of Islip Empire Zone benefits to enable the expansion. Founded in 1997, Antares has 475 employees and services major banks and other financial institutions.

Antares headquarters on Motor Parkway would undergo renovations and get new equipment to accommodate an increase in demand for commercial printing.

H2M takes the field

Engineering and architectural specialists H2M will be one of the lead architects on a major renovation planned for a 50-acre athletic field in Brentwood.

The park renewal on the corner of Crooked Hill Road and Community College Drive will include new playing fields, concessions stands, maintenance buildings, an announcer building, playgrounds, picnic areas and parking. Melville-based H2M will also serve as project engineer.

Plans for the parkland property were unveiled at a public meeting at Suffolk County Community College last month. The property was originally part of the Pilgrim State Psychiatric Center.

Home prices slip

January statistics show a $417,500 closed median home price for Long Island, the lowest since April 2005 when it was $415,000, according to the Multiple Listing Service of Long Island.

January’s closed median price is 4.6 percent lower than the January 2007 closed median home price which was $437,800.

Suffolk County reported a closed median home price last month of $373,500, a 6 percent decrease from a year ago, when the closed median price was $397,500.

Nassau saw a smaller decline. Its January 2008 closed median price was $440,000, down 2.2 percent from a year ago.

Real Deals

Capital Management Development will redevelop a blighted three-story property in Patchogue into a five-story, 50,000-square-foot self-storage facility.

Carro Associates received $1.21 million for the property located at 270 West Main Street, on the corner of Route 112.