- Tritec News
TRITEC Recaps: Mixing up mixed-use developments with new retail spaces
Long Islanders are looking for simplicity when it comes to their day-to-day. They want an easy commute, a spacious home, and access to a downtown area without the hustle and bustle of the city — plus they definitely need parking.
TRITEC’s newest mixed-use development, Station Yards in Ronkonkoma, is bringing just that — and more — to people young and old looking for something new.
During the recent Commercial Industrial Brokers Society (CIBS) of Long Island’s “State of the Industry 2023” panel in Melville, leaders in the field came together to network, mingle, and discuss the latest trends in the Long Island real estate market. Conversations included market predictions, current market conditions, exciting new projects in the works, and the hurdles developers, brokers and real estate agents are currently facing.
TRITEC Executive Vice President and Partner Robert Kent joined five other leaders for an open conversation, plus a Q&A, and said that their developments are not built to clash with other local businesses — in fact, they often vary on the downtown surrounding them.
“One of our sayings is we want to compliment the retail, not compete with it,” he said.
For example, their current Bay Shore project, Shoregate, has a bustling downtown just a block away and does not feature retail space below.
“They already have a great downtown,” he said. “You want to be able to go downstairs and conveniently walk to get a cup of coffee. That’s part of the experience living there.”
The Ronkonkoma Hub project, however, is special because it was built on a completely clean slate. Currently in Phase 2A, the retail space walls on the lower level of the buildings are nearly finished and are prepared for pre-leasing. Located directly across from the Long Island Rail Road at the Ronkonkoma Station, the downstairs spaces are planned to bring accessibility to residents, commuters and visitors.
“We felt it was essential as part of creating that sense of place and have some retail to service people living there, but certainly to our visitors, as well,” he said. “You have one of the busiest train stations right across the street so, it’s an essential part of what we’re putting together there.”
Moderator of the “State of the Industry” panel Peter Curry, partner at Farrell Fritz, called TRITEC “a pioneer” in transit-oriented developments. Not only do they have Bay Shore and Ronkonkoma on the map, but they also have locations in The Shipyard in Port Jefferson, The Wel Apartments in Lindenhurst and New Village at Patchogue — all of which are rented to consumers who positively impact the local economy.
“Putting people close to where they work, especially if you get some competent retail is a smart way to do it, and it’s also reuse of land that’s already been developed,” Kent said.
Station Yards, which has been in production for over a decade and is nearing completion, will feature six buildings that will house 388 new apartments, 70,000 square feet of retail space and a village green of about 10,000 square feet that will welcome guests from both the North and South Shores.
Directly adjacent to the north side of the LIRR, pre-COVID ridership averaged 17,000 people in and out of the station every day headed to or from Penn Station or other points to the east and west.
The idea behind transit-oriented developments can appeal to all ages. Being close to the LIRR allows easy access to young city commuters, but the mixed-use retail spaces below can make living simple for retirees looking for ease.
“Young people want it, older people don’t want to shovel snow, every demographic needs exciting and affordable places to live,” he said. “We’re seeing different towns where we can take advantage of the area that’s already developed around a transit hub and refresh it.”
Kent added that the team is so excited about the new Ronkonkoma space they plan on moving their headquarters to that location.
“If you can get them built, you’re going to rent them out,” Kent said.