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Developer proposes to build 35 luxury apartments in Riverhead

More apartments are being planned for downtown Riverhead.

This time, a company called G2D Development is seeking to build 35 luxury apartments in a four-story project on land that once had a Subway sandwich shop on East Main Street.

The proposal also will have 35 parking spaces, officials said.

The property is owned by Phillip and Eileen Hancock, according to town records. Mr. Hancock said he is in the process of selling the property to G2D, and is not involved in the development plans.

Tracy Stark-James, the executive director of the Riverhead Industrial Development Agency, said that G2D Development will make a presentation before the Riverhead IDA at its next meeting on March 4 seeking possible tax benefits.

“They’ve been working on this for close to a year,” she said.

The town zoning code has a 500 apartment unit limit within the Downtown Center-1 zone, which stretches roughly from Griffing Avenue to Ostrander Avenue and would include this property.

The unit count is based on certificates of occupancy, and there are 116 units so far.

Two large projects, the 116-unit Riverview Lofts, which is approved and under construction, and 203-213 East Main Street — which proposes 177 units on the site of the former Sears store — would bring the total to 409, if approved with certificates of occupancy.

The Suffolk Theater (28 apartments) and the Zenith Building on McDermott Avenue (nine apartments) also have pending applications for apartments downtown, according to town officials.

Representatives of G2D Development could not be reached for comment.

Photo caption: The site where the apartments are proposed on East Main Street. (Credit: Tim Gannon)

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