Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Terwilliger & Bartone Properties proposes apartment complex

Farmingdale

The property at Railroad Avenue will be torn down and replaced with a luxury residential apartment building

Farmingdale-based developer Terwilliger & Bartone Properties has a track record of advocating for its projects in various towns across Long Island, New York.

Last year, the company took a grassroots approach to their development project in Lynbrook. They started a facebook page and went to the community to garner support for tearing down a problematic abandoned motel and replacing it with a 4-story luxury rental apartment complex.

The name of that project was The Cornerstone, the same name as a project that the developer is building in Westbury.

This September, the village of Westbury approved the first phase of the project, called The Cornerstone at Westbury. The development will transform 461 Railroad Avenue, a parcel currently utilized as a food handling warehouse, into a professionally managed 72-unit residential community. Construction is expected to begin in early 2022.

The Cornerstone at Westbury is part of a revitalization effort for the village’s downtown that includes the rezoning of 53 acres of property within the area encompassed by Post Avenue, Maple Avenue, School Street and Union Avenue from industrial use to mixed-use residential to facilitate transit-oriented development projects around the Long Island Railroad station.

Terwilliger & Bartone Properties recently announced that it will put in an application for phase 2 of the project. The property at 425 Railroad Avenue, currently an  industrial warehouse, will be torn down and replaced with a 58-unit luxury residential apartment building.

According to a press release from the builder, the first phase is expected to swell the tax base in the village by 450%, generating more than  $2 million in net fiscal benefit to the school district over 20 years.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.