Elected officials and local civic leaders joined developers to celebrate the grand opening of the first phase of a sprawling new rental community in Farmingville last week.
The Arboretum at Farmingville, a 292-unit development on 62 acres at 510 Horseblock Road, is a joint venture between BRP Companies and funds and accounts managed by BlackRock Alternative Investors.
The $147 million garden-style community is a mix of 82 two-bedroom flats, 82 lofts, 63 two-bedroom townhomes, 14 three-bedroom townhomes, 51 three-bedroom single-family houses, with 30 units within the complex reserved for workforce housing. Monthly rents vary, starting at $3,515 for two-bedroom apartments, $4,300 for three-bedroom townhomes, and $5,350 for three-bedroom single-family houses, according to a statement from the developers.
The development features 7,500 square feet of shared amenity space, including a clubhouse, fitness center, yoga rooms, pool and cabana area, tennis, pickleball and bocce courts, a putting green, a playground, dog run and pet wash stations, and a business center with conference rooms. The property also has a 7-acre park with nature paths, walking trails and picnic areas that are open to the public.
“We're thrilled to mark this momentous occasion as we introduce 292 residences, providing much-needed rental housing, right in the heart of Farmingville,” Meredith Marshall, co-founder and managing partner ofBRPCompanies, said in the statement. “Located in a 62-acre park-like setting, The Arboretum harmoniously blends premier amenities with a mix of housing options, and we welcome our residents to their new homes.”
Construction on the project began in July 2022 and was financed with a $91 million floating construction loan through Santander Bank that was arranged by JLL Capital Markets. The development was also assisted by economic incentives from the Town of Brookhaven Industrial Development Agency.
“The Brookhaven IDA is proud to have played a role in the Arboretum at Farmingville project,” Frederick Braun, Brookhaven IDA chairman, said in the statement. “The mix of housing options, proximity to the LIE and a brand-new public park makes this a beautiful addition to the Farmingville community.”
Michael Wentz, president of the Farmingville Hills Chamber of Commerce, said The Arboretum is a pivotal response to three essentialneeds in Farmingville.
“It addresses the high demand for housing in one of New York's top school districts, promotes local sustainability with adequate on-site infrastructure,and establishes a community center that will serve as the Farmingville Hills Chamber of Commerce headquarters, hosting a range of community events year-round,” he said in the statement.
The next phase of the development will bring an additional 292 residences to The Arboretum community.
“The opening of Phase I of The Arboretum at Farmingville is yet another manifestation of Basis’s proven ability to partner with top sponsorship and development teams of color such asBRPCompanies, making a direct impact on the communities in which these teams invest,”CEO and Co-Founder of Basis Investment Group Tammy K. Jones said in the statement.“We are thrilled to continue our partnership withBRPCompanies to bring much-needed quality workforce housing to the region.”
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