From Touro to Tritec
BAY SHORE—It was recently confirmed that one of the most prominent real estate developers on Long Island has entered into a contract to purchase the Touro College campus in Bay Shore. Tritec Real Estate Company is looking to tear down the existing health sciences building and replace it with apartments on the roughly 10-acre property, located on Union Boulevard.
Robert Coughlan, a principal at Tritec, said the developers went into contract with Touro over the summer. There are no design plans at the current time.
Tritec, which is based in East Setauket, has been behind numerous downtown revitalizations throughout Suffolk County, including New Village in Patchogue, the Ronkonkoma Hub and the Shipyard at Port Jefferson Harbor.
Coughlan said the developer’s latest project is part of the many downtown revitalizations taking place across Long Island. He called the Bay Shore property “well-situated” because it is in close proximity to Sunrise Highway, the Bay Shore railroad station and Fire Island Ferries.
Coughlan continued by saying the developers have met with the Bay Shore Chamber of Commerce along with many local businesses to discuss the project and get input. So far, Coughlan said these meetings have been positive, as they have given the developers some insight into what the community wants from the downtown’s ongoing revitalization.
The Bay Shore Chamber declined to comment on the purchase until after the holiday season. However, Bay Shore School District Superintendent Joseph Bond said that while his district has not been contacted directly by the developers, they are aware of their proposal to build more than 300 apartments at the Touro College site.
“At this point, it is simply not possible to forecast the impact, if any, this project will have on our schools because we do not know who will move into the units,” Bond wrote in a statement. “We will continue to monitor the situation and, should the impact on our districts be significant, advocate for our interests.”
Elisheva Schlam, executive director of communications and marketing for Touro College, said the developer has completed due diligence and is proceeding with the purchase, adding that both parties entered into the contract in August of this year.
Schlam said the proceeds of the sale will be used to finance renovations for Touro’s Central Islip campus, which currently operates as Touro Law School. Schlam went on to say that the renovations would bring about a consolidation of campuses to “improve efficiencies” along with the overall “student experience.”
Coughlan hopes to close on the Bay Shore property by August 2020, with construction expected to begin that fall. Touro College reps have confirmed the closing date.
Tritec was recently granted $28.6 million in tax breaks for another development, this one being on a seven-acre parcel of land in the Village of Lindenhurst. The 260-unit apartment building, which will be across the street from the train station, is expected to be completed by the spring of 2021, according to reports.
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