Most of us know about condo housing on Long Island, but not many are familiar with condominium usage for businesses. Rather than rent space you can own it. You not only retain your tax deductible expenses but your monthly payments appreciate and even the worst scenario, you can sell it later for what you paid for it having used the property and its tax deductible advantages as well. My uncles built one of the first condo offices in Suffolk County and my brother and I later built a successful condo office building in Babylon Village. I share this information with you to encourage all our community that we must resist selling off the Plaza Theatre property without a dynamic plan that will change the face of east Main Street. Here is a suggested way it could work I bring this idea forward to get us all talking and doing, and to encourage 'would be' investors who read this.
Currently there are five or six property owners comprising the land from the corner of Avery to Case. The Town owns the property formally the Plaza Theatre, which includes much of the back parking area. Creating a joint venture of business owners and investors, a creative complex can be planned and constructed which could incorporate Dunkin' Donuts, and other store front space. The owner of the Laundromat need not reopen that same business but perhaps rent their space for a new business, such as a major clothing outlet, jewelry, etc. Rather than having one large 22,000 square foot space, currently used for the health services, smaller units can be built. Each owner would also have a second story of rental or condo space gained by the joint venture. Example, 22,000 sq ft would now be 44,000 sq feet. The idea is totally workable if all owners would join together.
When we were planning the Plaza Mac project several years ago, Mike Russo, Tom Dixon, Matt Crane and other business partners volunteered their talents and time to hopefully make that project come to reality. Limited to only the art of movies was not enough to encourage investors and the blessing was that the building was beyond repair but more a money pit. These talented men mostly part of Nelson Pope Engineering would be the ideal source of creativity we need. Also Evan, the owner of Mediterranean Manor, who was one of the founders of Focus East Patchogue, perhaps may also be interested in this kind of business venture.
The opportunity for us is now. Selling off or improving one parcel and leaving the present as is, is a loss for us and an economic loss for our Town and County. The wonderful work in the Village should be a super charged good virus that could spread from West to East and up to an including Bellport....and why not? It's about time we repair, replace and renew our community for our good and for the next generations of residents. Any Questions? email us at email@example.com