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Posted: May 16, 2023
Hempstead IDA gives final authorization to benefits package to assist upgrade of 875 Merrick Ave.
Westbury, NY Fred Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), said the agency has given final authorization to a package of economic development incentives that will assist a developer update a more-than-40-year-old office building.
The IDA, meeting granted final approval to the incentives for 875 Merrick LLC, which is owned by Charles Piluso of Lloyd Harbor, who plans to spend $3 million to renovate the 43,657 s/f building at 875 Merrick Ave. The building, which is opposite Eisenhower Park, has been vacant since the departure of tenant GEICO.
The renovations, aimed at converting the building into a contemporary class-A office building, will include a new roof, facade, new building systems, and the building’s interior.
The $3.064 million project is expected to generate 50 construction industry jobs and 110 permanent full-time equivalent positions.
“This project could result in the creation of more than a hundred new jobs as the building is upgraded and tenanted and brings in new revenues for all the taxing jurisdictions,” said Parola.
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