Heatherwood grows once more | Lengthy Island Enterprise Information

For a developer with such an extended historical past on Lengthy Island, it ought to come as no shock that the family-owned builder’s newest neighborhood identify alludes to the world’s previous.

Comac-based Heatherwood Luxurious Leases not too long ago opened Heritage Spy Ring Golf Membership in South Setuquet, a 200-unit luxurious condo advanced and nine-hole golf course named Culper Spy Ring, which operates within the Setuket space. Supplies intel for Common George Washington. On the actions of enemy forces throughout the British occupation of New York Metropolis in 1778.

And whereas its identify will be traced again to the Revolutionary Conflict practically 244 years in the past, Heatherwood’s newest improvement is something however an vintage, providing renters 55 and older a cushty modern life-style.

Douglas Partrick and Christopher Capece: The mind-set perception of Heatherwood is constructing new communities and re-imagining its heritage properties. Photograph by Judy Walker

Services on the new $70 million South Bridge Rental Group embrace a completely geared up health middle, 6,500-square-foot clubhouse with membership rooms, convention rooms, occasion area, and sport rooms. There’s additionally an outside pool and splash pad, hearth pit, tennis and pickleball courts, boxy courts, playground, 2-acres of lush garden and strolling trails.

Because the identify implies, one of many highlights of the 70-acre Heritage Spy Ring Golf Membership is the brand new nine-hole rolling format designed by famend golf course architect Tyler Rae. In actual fact, the complete improvement was constructed on the previous 18-hole Heatherwood Golf Membership, initially constructed within the early Sixties by Heatherwood founders Donald Partrick and Stanley Nislaus.

Based in 1950 by Partrick and Nieslaus, Heatherwood started by constructing a number of single-family-home subdivisions on Lengthy Island earlier than the corporate shifted its focus to multi-family rental improvement. The agency’s first condo neighborhood was the 272-unit Heatherwood Home in Port Jefferson, which opened in 1962 and continues to be owned by the developer.

At first: Firm co-founder Donald Partrick (middle) with different executives and native officers on the authentic Heatherwood Golf Membership website. Courtesy of Heatherwood

As we speak, Heatherwood’s portfolio has grown to almost 7,000 residences in Queens, Brooklyn, and all through Nassau and Suffolk Counties.

“We constructed all the pieces we now have,” says CEO Douglas Partrick, Donald Partrick’s son, who first went into enterprise shortly after Nieslaus’ loss of life in 2002. Up to now, Heatherwood has not developed any of its personal. Is bought.”

Over time, Heatherwood has made some important modifications to its government workforce. Christopher Capece, previously with Avalonbe Communities, got here in as chairman in January 2020, and this spring, Heatherwood added former deputy commissioner for planning on the Nassau County Division of Public Works, Sean Sally, who’s now the corporate’s planning and supervisor. Growth Director. ,

“Whereas we generally think about acquisitions, our development has traditionally been by means of new improvement. It’s a part of Heatherwood’s DNA,” Capece stated. “Considered one of Heatherwood’s strategic benefits is that we We’re a completely built-in improvement agency together with the design, improvement, development, operation and operation of golf and leisure services.”

That technique is paying off, as the corporate can boast of some main latest achievements. In 2018, Heatherwood opened Tower 28, a 450-unit condo constructing in Lengthy Island Metropolis. The 58-story advanced, which price greater than $200 million, was on the time the tallest residential constructing in New York Metropolis outdoors Manhattan.

One other ongoing Heatherwood undertaking will carry 125 residences and 14 hooked up ranch-style properties to a 26.9-acre website simply south of the company-owned and operated Pine Hills Golf Membership in Manorville. Dubbed Solar River City Properties, the $31.16 million undertaking will complement the corporate’s current villas within the Pine Hills neighborhood the place residents will share facilities together with a clubhouse, health middle and pool.

Heatherwood can be planning to redevelop a 9-acre website in West Hampstead, previously occupied by Nationwide Wholesale Liquidators. The undertaking will remodel the property situated throughout from West Hampstead Lengthy Island Rail Street station right into a 428-unit, transit-oriented rental advanced. At present within the allowing course of, the corporate hopes to begin development earlier than the tip of subsequent 12 months.

And though Heatherwood is all the time looking out for alternatives to increase its portfolio, it hasn’t forgotten about its current communities. The corporate not too long ago launched into a multi-million-dollar program to renovate and refresh its previous rental complexes, which embrace turf soccer fields, new playground gear, basketball and pickleball courts, even That features services like seaside volleyball services.

“We performed a full market evaluation of our complete portfolio contemplating demographics and competitors, and we recognized our communities the place we wish to start our re-investment in properties,” Capece stated.

Renovations are nearly full on the 348-unit Norwich Gate Flats in Oyster Bay, the place the corporate has constructed a brand new clubhouse, courtyard space and extra facilities. That is adopted by intensive renovations at Heatherwood Home in Port Jefferson, the agency’s first rental improvement. The undertaking additionally consists of the redevelopment of the neighborhood clubhouse and the addition of latest services.

“Whereas we proceed to spend money on all of our communities, we now have taken a extra articulate method to giving them a greater life-style,” Partrick stated. “It isn’t simply re-investment. It is re-imagining and creating a way of life.”

Convention and assembly areas contained in the clubhouse of the brand new neighborhood. Photograph by Judy Walker

Heatherwood presents a variety of month-to-month rents on its rental properties, ranging from round $1,500 in a few of its Lengthy Island communities to greater than $10,000 in some New York Metropolis buildings.

Month-to-month leases for Heritage Spy Ring Golf Membership vary from $3,600 for a one-bedroom, one-bath condo to over $6,600 for a three-bedroom, two-bath lodging. Thirty of the brand new residences are designated as workforce housing and priced with low rents, with half of them incomes as much as 80 p.c of the world’s median revenue and as much as 120 p.c of the AMI. for half. The South Bridge improvement is round 20 per cent leased and the move-in began just a few months again.

Mitch Pally, CEO of the Lengthy Island Builders Institute, stated Heatherwood is a key participant within the improvement of rental housing in Lengthy Island, which is in dire want.

“There isn’t a doubt that Heatherwood has been re-energized over time, as you possibly can see with each new initiatives in South Bridget and hopefully quickly West Hampstead, and its current ones throughout the island. can improve the product line,” stated Pally. “They’re very community-oriented. They’ve completed so much with our charitable arm and LIBI over time. Doug is a previous president of LIBI and Chris has been concerned with our government committee for a few years, so they have been there on Lengthy Island of every kind. The necessity and significance of rental housing play an enormous function in making it simpler to fulfill nice folks. There’s a demand for rental housing.”

Heritage Spy Ring’s 6,500-square-foot clubhouse includes a absolutely geared up health middle, sport room, and different facilities. Photograph by Judy Walker

Lawyer Howard Stein, who heads the true property apply group at East Meadow-based Sertilman Balin Adler & Hyman and has labored on a number of Heatherwood initiatives, echoed that sentiment.

“Representing Heatherwood as a shopper has been and continues to be a rewarding alternative,” Stein stated. “Their initiatives are revolutionary and meet the wants of an evolving market. Their workforce is extraordinarily skilled and gifted, and their fame is immaculate as they all the time ship on their guarantees.”

In the meantime, as the corporate continues to develop on Lengthy Island, the powerful development setting right here poses a problem, and Heatherwood could ultimately need to increase into different areas.

“Our precedence is to spend money on our home market,” Partrick stated. “We attempt to proceed to fund our funding {dollars} on Lengthy Island even when confronted with usually difficult eligibility limitations, however we additionally know that the flight of capital out of the area is there for a cause.”


Supply hyperlink