Lindenhurst Village Green project still alive but delayed
The vacant, 52-acre Village Green retail center in Lindenhurst is symbolic of the country's recession - loaded with potential but sitting idle for now.
Citing the current economy, developer Oliver McMillan and village officials have pushed back their estimated completion time for the site's 450,000-square-foot retail development until sometime in 2011. Earlier projections hoped the doors would open in spring 2010.
"The economic conditions have caused the construction timeline to be adjusted," said Village Administrator Matt Formica. "Retailers are being cautious and more reluctant to open up new stores until they are more certain about what the future holds."
The project calls for two anchor stores, a movie theater, restaurants and higher-end stores similar to Williams-Sonoma and Gap. It would be about the size of Deer Park Town Center.
"The driving factor to make this happen is the commitment of a major anchor store. That hasn't happened yet," Formica said.
Officials hope for a Macy's or Carson Pirie Scott-type retailer to sign on.
Located just north of Grand Avenue on Route 45, the development would be a financial boon to Lindenhurst and surrounding communities.
Formica estimated sales tax revenues to be around $600,000 to $700,000 annually. Lindenhurst's finances are OK for now, Formica said, but added the village is starting to feel the affects of the recession.
Formica has weekly phone meetings with the developer and says the "project is still moving forward." Landscaping designs were approved as recently as last week.
Is it possible the project could just die? Formica doesn't think that is likely.
"The developer wants to see this happen. They have a lot of money invested in this. They a financial incentive to really do the project. That's a positive," he said.
Charlie Hickcox, development director for Oliver McMillan, echoes that sentiment.
"We are completely optimistic," Hickcox said. "We have every intention to bring this project to fruition."