The developer of a 114,090-square-foot Marriott Residence Inn under construction on the west end of Route 58 across from Tanger Outlet Center is expecting the cost of the project to increase from $26,849,775 to $32,681,960, in part because of plans to install a new traffic signal on the western end of the property that will allow cars leaving the hotel property to turn east.
In a split vote Monday night, the Riverhead Industrial Development Agency voted 3-1 to give tax incentives to Browning Hotel Properties for a second hotel proposed to be built next to the existing 114-room Hilton Garden Inn on Route 58.
IDA member Dawn Thomas, a former town attorney, cast the lone “no” vote, saying she wanted more time to read information submitted by the applicant. She had asked to table the vote for a future meeting, but the other board members opposed doing so, and proceeded with the vote on the application. (more…)
A rendering of the proposed 114-room Marriott Residence Inn on Route 58.
A developer proposing to build a Marriott Residence Inn on Route 58 in Riverhead claims his bank won’t finance the project unless he secures tax breaks.