A Manhattan-based developer has closed on a package of economic incentives from the Town of Brookhaven Industrial Development Agency for its proposed three-building $162 million project in Yaphank.
Wildflower Ltd. plans to build three industrial buildings totaling 550,000 square feet on a 42.1-acre portion of a 71.4-acre parcel of vacant land west of Sills Road on the north side of Long Island Expressway North Service Road. The project, called the Brookhaven Logistics Center, is expected to create 170 full-time and 21 part-time permanent jobs.
The 12-year payment-in-lieu-of-taxes agreement with the IDA calls for the developer to pay $40,448 in the first year, with annual escalations that end up at $2.11 million. The three buildings are expected to take about 24 months to complete, with occupancy of the first building to begin in 16 months, according to IDA documents.
“This project will help to meet the increased demand for trucking, storage, and delivery of goods and services in our region with the potential to create hundreds of new jobs in the Town of Brookhaven, bring new tenants from outside of the region, and create new economic opportunities,” Frederick Braun, Brookhaven IDA chairman, said in an IDA statement.
The Brookhaven IDA had previously approved incentives to Wildflower for a $33.8 million industrial project in Medford. The developer is currently building a 129,242-square-foot warehouse and distribution complex on 10 acres of vacant land at 645 National Blvd.
The Medford project will take about 12 months to complete and is expected to create 40 full-time jobs and five part-time positions, according to an IDA statement.