NCIDA assists planned Bristal Assisted Living Facility in Jericho

Edward Mangano, Nassau County

Jericho, NY According to Nassau County executive Edward Mangano, 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 at a cost of $125 million.

HSRE-EB, a partnership of Garden City-based Engel Burman Group and Harrison Street Real Estate Capital LLC, plans to construct a 336,000 s/f, 280-unit facility on vacant land at 300-310 Jericho Tpke. 140 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 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.

Mangano said, “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.”

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.