Serota Properties Proposes $300M Mixed-Use Project
- Dec 11, 2008
Serota Properties has submitted a proposal to develop a $300 million mixed-use community on 136 acres at the corner of Sunrise Highway and Veterans Memorial Highway in New York’s Islip, Long Island.Coined Islip Pines, the proposed development includes plans for more than 200 residential units, a Class A office complex, a cluster of retail stores, an upscale hotel and a movie theater. Moreover, the company has requested that half of the proposed space be allocated toward industrial purposes in an attempt to draw corporations to the area and spur an upsurge in employment opportunities in Islip.”Our objective is to create a viable community where one can leave the car in their driveway for weeks at a time and never have to use a drop of gasoline to get to work, buy a loaf of bread or be entertained by a movie,” Serota Properties executive Geoffrey Serota, said in a statement. He added that the decision to move forward with the project at a time when the economy is in turmoil is Serota Properties’ vote of confidence in the region and the company’s underlying commitment to Long Island and the Town of Islip.The proposed development also features several sustainability and energy-conservation initiatives, including: an electric trolley service and pedicabs that workers, shoppers and residents can use to travel throughout the property; planted trees; an esplanade walkway that would run through a central public courtyard and reserved parking for, among other things, hybrid automobiles and carpools; conservation technology; and energy-efficient indoor and outdoor lighting. “We are proposing a mixed-use development that reflects the region’s need for ‘smart’ growth, which will strengthen our economy and improve the quality of life,” Serota said.