Rental apartments for 55 and older proposed for East Moriches

A Hauppauge-based developer is proposing to build 70 luxury apartments in East Moriches for people ages 55 and older.

The $25 million project, called Preserve at East Moriches, would be built on 22-plus acres on the north side of Montauk Highway. It would consist of 13 buildings totaling 70 units with attached garages and outdoor amenities, including a community center and walking path. An advanced sewage treatment system is also part of the project.

The developer, Preserve at East Moriches LLC, has applied to the Brookhaven Industrial Agency for an exemption from $561,000 in sales taxes and $112,050 in mortgage recording tax and reduced real estate taxes in the form of a 15-year Payment in Lieu of Taxes agreement (PILOT). The project is located in the East Moriches School District.

MRB’s analysis said that even with the PILOT, the project would bring in about $3.6 million more in property taxes over 15 years than had it not been built. The land is currently vacant wooded land.

The project would result in 158 direct and indirect construction jobs, with wages of $10.5 million and 28 permanent jobs (direct and indirect) with annual wages of $1.5 million, the MRB analysis said.

In return for a tax break, the developer has proposed setting aside seven of the 70 units as affordable housing for people earning up to 80 percent of the average median income on Long Island. An additional seven units would be set aside as workforce housing for people earning up to 120 percent of AMI. The remaining 56 units would be market rate.

“There is a growing need for seniors to remain on Long Island without the expense and maintenance of owning a home,” Preserve at East Moriches wrote in its application. “Rental units are necessary to fill the housing market void and maintain a healthy balance of housing stock.”

Entities affiliated with Preserve at East Moriches LLC have developed numerous luxury apartment complexes across Suffolk County, including Middle Country Meadows in Selden and Overbay in Port Jefferson, both of which received tax breaks from the Brookhaven IDA.