Northwind Group of Hauppauge, operating as Overbay LLC, plans to demolish vacant buildings at 217 W. Broadway near Port Jefferson Harbor and build two 35-foot-tall, three-story buildings, IDA officials said in a news release.
A mansion known as Overbay had occupied the 1.8-acre site until it was destroyed by a 1940 fire.
Monthly rents at the complex are expected to range from $1,800 to $2,200, IDA officials said. The project has conditional site plan approval from village officials and is expected to create two permanent jobs and 150 construction jobs over two years.
IDA chairman Frederick C. Braun III said the agency has accepted an application from Northwind Group, owned and operated by developer Jim Tsunis, for financial assistance such as sales tax exemptions.
“We’re pleased to consider this application for this project, which will grow the much needed supply of rental housing near to Stony Brook University and Port Jefferson’s Mather and St. Charles hospitals,” Braun said in a news release.
By Carl Macgowan