Steel Equities and Marcus Organization concludes first phase of construction at Belmont at Eastview

Central Islip, NY Steel Equities and The Marcus Organization has completed the first phase of construction of The Belmont at Eastview, a transformative redevelopment project on the old New York Institute of Technology (NYIT) campus. This included the development of 364 rental homes and a community center that features exercise and recreational facilities. The development welcomed its first residents in August of 2023 and is now over 80% occupied. 

Also now in motion is the development’s second phase, which will include both rental and 55-and-over for-sale apartments on the property in addition to two mixed-use buildings. The second phase will include 362 additional rental homes, bringing the total development to 726 upon completion. The Belmont at Eastview is a example of adaptive reuse, as over a dozen buildings between the two phases were originally constructed in the 1930s. 

The Belmont at Eastview offers a ten percent monthly discount on rent for select units to first responders. According to Steel Equities, this discount has drawn interest from firefighters, police officers, emergency medical professionals and employees at the nearby court complex as prospective tenants and as local Long Island family businesses it is our obligation to provide housing options for the those who serve. The Belmont at Eastview is the only development on Long Island offering this benefit.

Originally envisioned as a site for industrial development, the Central Islip community did not agree. In response, Steel Equities turned their attention to housing, which was welcomed by civic groups and local stakeholders. It should be noted that this project would have not been feasible without the leadership, vision and guidance of The Town of Islip, supervisor Angie Carpenter and the local civic associations, notably Nancy Manfredonia and Debbie Cavanagh which assisted in developing this into a true public private partnership to bring this project to fruition.

In addition to the amenities offered inside the community center, the property will feature outdoor gathering spaces including a swimming pool, grills and fire pits. On top of that, the property features over two miles of walking trails that are reminiscent of its former use as a college campus. 

“Steel Equities and The Marcus Organization is proud to bring this vibrant living community to our region at a moment when our younger generations are in desperate need of housing options,” said Steel Equities director of property development and operations Russell Mohr. “From our vast array of amenities, quality living spaces and more, The Belmont at Eastview is an innovative approach to combatting New York’s housing crisis and keeping the next generation of our workforce here on Long Island.”

“Given the lack of available open space on Long Island, developers are constantly challenged to find new and creative ways to make economic investment projects a reality,” said Mohr. “With this development, we were able to identify a blighted property and transform it into housing, something that was welcomed by the overwhelming majority of the surrounding community.”