Economic incentives for the developer of a planned 55-and-over apartment complex in Commack were advanced by a public hearing last week by the Suffolk County Industrial Development Agency.
Fieldstone at Commack II LLC, an affiliate of Woodbury-based P7 Development headed by Paul Posillico, received preliminary approval for tax breaks from the Suffolk IDA last month for its planned three-story, 111,223-square-foot apartment building on 4.96 acres on Jericho Turnpike.
The $40.7 million, 98-unit project, to be constructed at 1098, 1100 and 1120 Jericho Turnpike, will be built adjacent to the developer’s existing 98-unit Fieldstone at Commack 55-and-over apartment community on 6.75 acres at 1126 Jericho Turnpike that also received benefits from the Suffolk IDA in 2019. The existing development replaced the shuttered Courtesy Inn motel and features a clubhouse with a fitness center, outdoor pool and patio.
The new project, like the previous one, is designed by Melville-based Beatty Harvey Coco Architects. It will replace five commercial buildings including Trailer City East, a supplier of truck and trailer accessories. The property received a zoning change from the Town of Smithtown in 2022 and site-plan approval was granted in February 2024.
Fieldstone’s phase two will bring 42 one-bedroom and 56 two-bedroom apartments. Monthly rents for the 86 market-rate apartments are expected to range from $2,530 to $3,430. There will also be 12 workforce units offered at $1,800 for a one-bedroom and $2,040 for a two-bedroom for renters earning less than 80 percent of the area median income, according to IDA documents. Four of those units will be designated for veterans and people with disabilities.
The project is expected to create about 125 construction jobs and two full-time equivalent jobs, according to its IDA application. The development, which is represented before the IDA by attorney Peter Curry of Farrell Fritz,will generate about $5.8 million in property taxes over its 15-year payment-in-lieu-of-taxes agreement. Final approval for the approximate $6.5 million in tax breaks from the IDA is expected this week.
Construction is expected to take from 18 to 24 months to complete.
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