Blue & Gold Holdings
In 2013, the Town of Huntington developed a strategy for the revitalization of Huntington Station’s downtown. The goal was to create a framework for responsible and careful planning that would result in the comprehensive, transit-oriented redevelopment of underutilized land into tax generating mixed-use developments.
After years of community outreach and partnership with the Town of Huntington and Renaissance Downtowns, Blue & Gold Holding’s plan began in 2016 with the ground-up construction of the Northridge Building. Since then, other projects have included the renovation of the Manor at Northridge, the renovation of 15 Northridge St., the construction of Northridge Square, the renovation of the Mansion at New York Ave, and the construction of the Landmark Building.
Blue and Gold Holdings latest project, The Landmark Building is the sixth project—third in partnership with the Suffolk IDA—in the ongoing efforts of Huntington Station’s downtown revitalization.
The collective $26 million investment put into Blue and Gold’s master redevelopment plan has taken some of the area’s most dilapidated buildings and vacant areas and turned them into attractive spaces to bolster the creation of Huntington Station’s downtown. Even after receiving assistance from the IDA, Blue and Gold’s redeveloped properties will increase tax revenue from $11,500 annually to more than $347,000.
The Suffolk IDA authorized the following:
- Property tax abatements
- Sales tax exemptions
- Mortgage recording tax exemptions
We have worked with the IDA on 3 of our 5 redevelopment projects in Huntington Station. Every project we have approached the Suffolk IDA with was out of necessity. None of these projects could have move forward without the help of the Suffolk IDA.
The Suffolk IDA’s collaboration with Blue and Gold Holdings has continued to positively impact the region’s economic strength, as they continue to expand their footprint, create job opportunities, attract new residents with disposable income and turn the area in a destination for visitors.
If you are looking to move or expand your business on Long Island, like Blue and Gold Holdings, make the Suffolk IDA your first call. We’ll provide you and your business with a wealth of expertise, discuss financial incentives, assist you with workforce training and recruitment and be a partner to you, every step of the way.