Redevelopment of Glen Cove’s Waterfront Reaches Significant Milestone
September 10, 2008– Glen Cove, NY - At a joint meeting of the Glen Cove Industrial Development Agency (IDA) and Community Development Agency (CDA) last evening, the agencies unanimously approved a revised vision for the redevelopment of Glen Cove's underutilized waterfront. The approved Conceptual Site Plan was prepared by RexCorp-Glen Isle Partners, LLC, a joint venture between RexCorp Realty, Long Island’s largest real estate developer, owner, and operator led by Scott Rechler, and Glen Isle Partners, LLC, the originally designated redeveloper for the property led by Donald Monti and Michael Posillico. The plan calls for a active mixed use development combining residential, commercial, retail, cultural, recreational and entertainment uses, new marinas, and a luxury hotel along the north side of Glen Cove Creek linked by a continuous public esplanade of parks and walks. The approval marks the beginning of the public review process under the State Environmental Quality Review Act (SEQRA).
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