The 755-acre Epcal Centre family entertainment destination proposal was originally presented at a work session to the Town Board in March, and subsequently at meetings with Rick Hanley, Riverhead planning director, who confirmed the project's compliance with the town's current zoning criteria. Epcal Centre is a destination family entertainment resort proposed by a joint venture between RexCorp Realty and Long Island Destination Group.
The proposal includes distinct venues featuring a first-class motorsport facility, a hotel and convention center, a premier equestrian training and show venue, a sports and recreation center and a cultural arts/entertainment center intended to create a mixed-use development on the 755-acre Planned Recreation district at the former Navy property in Riverhead.
Scott Rechler, RexCorp's CEO, states, "we believe our proposal meets the town's goals for the property to create an economic engine for Riverhead and achieves these goals within the constraints of the zoning currently in place. We think it is in the best interest of the town and its residents to select RexCorp New Venture Acquisitions LLC/Long Island Destination Group LLC, a Long Island team, based on our experience, reputation, commitment to Long Island and on the assurance that we will work together to develop a plan which meets the town's land use and financial goals."
Rechler further notes that "based upon the town's willingness to consider a competing proposal which calls for a significantly more intense project and wholesale modifications to the existing zoning ordinance, we are confident we will arrive at a valuation that meets or exceeds that of the competing offer," he says. "Of equal importance, we will do so in a framework that minimizes impact and achieves a world-class project which is realistic and achievable within a very reasonable time frame."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
