Nassau County Industrial Development Agency OKs tax breaks for Hicksville project

The Nassau County Industrial Development Agency approved tax breaks for a 104-unit mixed-use development in Hicksville that officials hope will be part of a revitalized downtown.

The planned four-story, $58 million project, called Fieldstone at North Broadway, will include a 4,800-square-foot retail space and will set aside 10% of its units for affordable housing, Peter Curry, an attorney representing the developer, said at a Nov. 21 Nassau IDA board meeting.

The development, to be located between North Broadway, William Street and Newbridge Road across a set of properties that have multiple existing buildings, is "enormously important" to the transformation of Hicksville, Curry told Newsday in an interview.

"All of a sudden you're seeing the town really realize upon its transit-oriented district that it established, and the successes of something like this then leads the next town or the next village to say, 'I should be thinking more positively about this,' " Curry said. 

The Nassau IDA board granted a 20-year PILOT, or payment in lieu of taxes, for the development, a sales tax exemption not to exceed $1,817,546 and a mortgage tax exemption not to exceed $ 375,000. The board provides those incentives to encourage developers to invest in communities. A PILOT, for example, establishes a set payment schedule that gives builders a level of certainty that doesn't exist for typically-taxed properties that can be reassessed.

William Rockensies, chairman of the Nassau IDA board, said the project is part of a wider effort to bring “much-needed multifamily housing” to Long Island.

“The Fieldstone at North Broadway project represents an investment of more than $53 million into the community, creating quality housing options with dedicated parking for current and future residents, all within walking distance of a major Long Island Rail Road hub,” Rockensies said in a statement.

Curry said all but one of the buildings on the set of Hicksville properties will be torn down. 

The project, which does not yet have a firm timeline for construction, will have residential units on floors two through four, a retail space on the first floor, and have street-level and underground parking, he said.

Oyster Bay Supervisor Joseph Saladino said the new Hicksville housing will be a “cornerstone of our community’s revitalization.”

“Combined with enhanced pedestrian connectivity and an expanded Kennedy Park, these projects underscore our strong commitment to Hicksville's bright future,” Saladino said in a statement.

New York awarded $10 million to Hicksville in 2017 for its Downtown Revitalization Initiative, and that funding is earmarked for infrastructure improvements and open-space projects around the LIRR station. The town in 2021 established a new zoning code aimed at improving walkability and adding new housing and stores to downtown Hicksville. 

Last month, the Nassau County IDA granted tax breaks to Premiero Cherry to create a 20-unit development near the Hicksville LIRR station.

And late last year, construction crews began demolishing a dilapidated building near the LIRR station, marking the start of the first major project toward revitalizing downtown Hicksville. Alpine Residential is developing that project.

Oyster Bay said it expects work on pedestrian pathways and streetscape improvements to begin in the spring. The town also has used eminent domain to seize two plots to be used as downtown public parking.

By Joseph Ostapiuk

joseph.ostapiuk@newsday.com@OstapiukJ