The university, one of Long Island largest employers, plans to develop the site as the Stony Brook University Research and Development Campus. The first building to be completed would be the approximately 123,000-sf Center for Excellence in Wireless Information Technology, which would be completed in 2007. Following that construction, the master plan calls for nine additional research and development buildings that would be constructed over a 10-year period. The total for the project site would be approximately 830,000 sf. Stony Brook also plans to construct a dedicated roadway providing vehicular access to the campus via three existing entrances.

For its part, Gyrodyne, based in nearby St. James, says it "remains committed to achieving Flowerfield's highest value for its shareholders." The Flowerfield property is also the subject of applications to develop a luxury residential golf course community with 336 home sites.

"The University has been threatening to condemn our property for some time now and, with reference to their statement regarding a negotiated purchase, has never made an offer with regard to this announcement," says Gyrodyne president Stephen V. Maroney The abuse of power to condemn and impede the approval of our applications is evident to all of us at Gyrodyne and to many others in the surrounding community."