Winner confirmed for New York regen P3

The Town of Riverhead, New York, has agreed to enter into an agreement with a joint venture to deliver a $135m regeneration scheme.

A special meeting of the Riverhead Town Board has unanimously supported the bid from RXR Realty and Georgica Green Ventures (GGV) to redevelop over two acres of property on Court Street, as well as to redevelop two parcels on Griffing Avenue.

The plans will see the joint venture deliver a mixed-use building that will include apartments and retail facilities on what is currently a parking lot. 

The appointment of the RXR and GGV team as the preferred bidder on the deal comes after a hearing in which representatives from the company presented their plans to the town board last week.