Mangano: New Assisted Living Facility with Special Focus on Dementia Coming to Jericho

Mineola, NY – Nassau County Executive Edward P. Mangano today announced that the Nassau County Industrial Development Agency (NCIDA) has approved an economic development compact for HSRE-EB Jericho LLC, which intends to build a Bristal Assisted Living facility in Jericho at a cost of $125 million.  The Bristal plans to hire approximately 90 full-time-equivalent employees within three years of the facility’s completion.  Construction will result in the creation of about 150 full-time-equivalent construction jobs during an 18-month period.

County Executive Mangano stated, “This project will help to meet the growing needs of a segment of the population who are no longer able to live alone while enhancing their quality of life.”

HSRE-EB, a partnership of Garden City-based Engel Burman Group and Harrison Street Real Estate Capital LLC, plans to construct a 336,000 square-foot, 280-unit facility on vacant land at 300-310 Jericho Turnpike in Jericho.  One hundred forty units will be traditional assisted-living apartments and the remainder will be specially designed for residents suffering from the onset of dementia and other memory loss conditions.

The project will have a positive tax benefit for Nassau County and other taxing jurisdictions of $22 million and is expected to have a total economic impact of $337 million on Nassau County. In addition, Engel Burman is gifting 8.5 acres of undeveloped land at the 10-acre site to the Town of Oyster Bay to be preserved forever.

 

Advertisements

About nassaucountynewsnetwork

The County Executive of Nassau County,NY
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s