National Grid awards CDCLI $25,000 grant for mixed-use development in support of Peconic Crossing in Riverhead

March 05, 2019 - Owners Developers & Managers

Shown (from left) are:  Gwen O’Shea, president and CEO, CDCLI; Justina Fargiano, development manager, CDCLI; Alan Heitner, CFO, CDCLI; Jill Rosen-Nikoloff, COO, CDCLI; Lyle Sclair, economic development rep., National Grid; Dawn Grzan, VP of development, CDCLI; Kathleen Wisnewski, community customer manager, National Grid; and Paul Fink, special projects advisor, CDCLI.

Riverhead, NY National Grid awarded a $25,000 grant to Community Development Corp. of Long Island (CDCLI) in support of Peconic Crossing, a 45-unit, mixed-use, affordable housing development that provides a preference for artists and displaced storm victims. The development, a joint project of CDCLI and Conifer Realty, complements the town’s ongoing efforts for revitalization of the downtown area, including obtainable housing and promotion of the arts in walkable neighborhoods connected to the Peconic River. 

The grant comes from National Grid’s Cinderella Program, which is designed to assist communities in promoting smart growth through the redevelopment of underutilized gas utility infrastructure, to help improve their economic viability, attract new investment, and capitalize on their distinct development potential. “National Grid is proud to support CDCLI in this effort to revitalize downtown Riverhead. The Cinderella grant from National Grid helped create retail gallery space to support artists on the east end. The Peconic Crossing mixed-use development project has brought a building damaged by Superstorm Sandy back to life and supporting the local economy,” said Keith Rooney, director of community and customer management at National Grid.

The 11 West Main St. complex offers energy-efficient one and two bedroom apartments, as well as gallery space on the main floor for residents to showcase their creations and collaborations. 

“Peconic Crossing is now home to 45 individuals and families that are proud to be a part of the fabric of the Riverhead community. The inclusion of the East End Arts Gallery into the property adds tremendous value for residents and the community at large. Mixed-use development on Long Island is complex, expensive, and challenging to complete. Partners like National Grid are critical to bringing a concept like Peconic Crossing from an idea to a reality. We are so grateful for their support,” said Gwen O’Shea, president & CEO of CDCLI.

Located in the heart of Downtown Riverhead, artist residents are surrounded by inspiration, living alongside the picturesque Peconic River, across from Grangebel Park, and just a short walk from the main East End Arts facility, restaurants, shops, and more. Recognizing the role of art in creating and supporting a vibrant downtown, the development of Peconic Crossing is a significant accomplishment toward expanding Riverhead’s artist community and growing as an artistic and cultural hub. 

Community Development Corporation of Long Island (CDCLI) invests its resources, talents, and knowledge in the people of Long Island, helping them to achieve their dreams of an affordable home in a vibrant community. Since its inception 50 years ago, CDCLI has assisted over 239,000 Long Islanders and invested $1.59 billion into the communities in which they live. CDCLI is part of the NeighborWorks network, an affiliation of more than 240 nonprofit organizations located in every state, the District of Columbia, and Puerto Rico. The NeighborWorks network was founded and is supported by NeighborWorks America, which creates opportunities for people to live in affordable homes, improve their lives, and strengthen their communities.



Add Comment

More from the New York Real Estate Journal