Today's Newsday had
this article on Rechler Equity pulling out of it's deal to purchase 300 acres of land at Calverton for industrial development.
Since people may not have access to Newsday's site, let me summarize.
Rechler Equity in 2007 originally offered 35 million to buy 300 acres in Calverton to build 2.5million sqft of industrial land.
Earlier this year, the purchase price was re-negoiated to 18million.
However, Rechler kept changing their plans -
Ten months ago, we began conversations with the town board about coming up with a plan that would be feasible," Rechler said..."We need a place to house a workforce, a place for people to eat and shop and work, a self-contained work experience with a sustainable project [like] a solar farm."
Hmm, 'house a workforce'? 'eat and shop'? 'self-contained work experience'? Sounds to me like they wanted to dump the industrial development, and develop yet another townhouse and retail center complex, just what Long Island doesn't need. This land is supposed to be near the Calverton Airport runway (judging from Google maps there are 2 runways, forming a vee north of the properties to be served by rail as mentioned previously in this thread - so I don't have the exact location of where the parcel Rechler planned to buy was going to be.