THE BLUEPRINT:
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$22.5M Cornerstone Kings Park to feature 46 rental units
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Located next to Kings Park LIRR station in Tanzi Plaza
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Includes affordable workforce housing and 137 parking spots
Site work has begun on a $22.5 million apartment development in Kings Park.
The project, from TTB Holdings LLC, will bring a three-story, 59,715-square-foot building to the western side of the Tanzi Plaza shopping center at 30 Indian Head Road. The transit-oriented development site is located just steps away from the Kings Park Long Island Rail Road station.
The development, called Cornerstone Kings Park, is a partnership between Terwilliger & Bartone Properties and Tanzi Properties. It will consist of a mix of two studios, 35 one-bedroom and nine two-bedroom units. Five of the apartments will be offered at reduced rents and designated affordable workforce housing.
Amenities will include a clubroom, fitness center, virtual entry system, elevator and trash valet service. The project will feature 137 parking spaces, including 29 below-grade spots to avoid burdening local downtown parking.
Islandia-based GRCH Architecture is designing the development, and its civil engineer is Huntington-based R&M Engineering.
The developers recently received an inducement resolution for a financial assistance package from the Suffolk County Industrial Development Agency. An IDA public hearing on the package is scheduled for Wednesday, August 20. An independent cost-benefit analysis conducted by Grow America, a national economic development nonprofit, recommended approval of the developer’s payment-in-lieu-of-taxes agreement, according to an IDA statement.
The project, the first new multifamily development in Kings Park in decades, replaces a long vacant restaurant called Sombreros. The plan for the Kings Park apartment building was conceived in 2018 when the Town of Smithtown completed a comprehensive plan for Kings Park’s downtown following community visioning sessions led by the Kings Park Chamber of Commerce, the Kings Park Civic Association and Vision Long Island. But the development, the first pitched for Kings Park’s ongoing downtown revitalization effort, wouldn’t have been possible without Suffolk County’s recent expansion of the Kings Park sewer system.
Terwilliger & Bartone has been a prolific developer of Long Island downtown apartment projects in recent years. The company has built multifamily apartment developments in Farmingdale, Hauppauge, Lynbrook and Westbury.
Last month, LIBN was first to report on the developer’s latest endeavor, a $61 million project that will bring 106 apartments over 4,000 square feet of retail space to a 2-acre site on Jerusalem Avenue in Hicksville. Called Cornerstone Hicksville, the four-story building will have a mix of studios, one- and two-bedroom units with underground parking for more than 200 vehicles. The planned development is located a stone’s throw from the Hicksville Long Island Rail Road station.
The Cornerstone Kings Park project will create about 90 construction jobs and is expected to be completed in about 18 months, with first occupancies slated for Q1 2027.
