The Riverhead Town Board granted site plan approval Thursday to a five-story hotel and restaurant planned for the northwest corner of East Main Street and Ostrander Avenue.
The project, proposed by J. Petrocelli Development Associates, includes plans to convert the 115-year-old Preston House into a bar and 200-seat restaurant. The 20-room hotel will be located to the rear of the restaurant.
A traffic light will also be installed at the intersection of East Main Street and Ostrander Avenue, according to the Town Board resolution approving the site plan.
The company’s principal, Joe Petrocelli, is an owner of the Long Island Aquarium and Exhibition Center and the Hyatt Place East End located across the street.
The site plan, which was the subject of multiple public hearings, was unanimously approved at a special meeting Thursday with no discussion. The project previously received tax abatements from the Industrial Development Agency and a variance relief from the town’s Zoning Board of Appeals.
The Preston House, built in 1902, is named after Henry H. Preston, a Civil War hero who also was Shelter Island’s first elected sheriff.