A project to develop a logistics complex in Mitchel Field will get some help from the Town of Hempstead Industrial Development Agency.
Brookfield Asset Management received preliminary approval from the Hempstead IDA for economic incentives to assist in its plan to build a 102,600-square-foot distribution center on 6.5 acres at 107 Charles Lindbergh Blvd.
The $33.79 million project will create at least 50 new permanent jobs and 130 construction jobs, according to an IDA statement.
Brookfield purchased the property for $13.2 million in July 2021 and has since demolished the 89,464-square-foot office building that’s been on the site since 1984. The building, once occupied by the IRS, had been vacant for the last 10 years. The site also has an underlying ground lease with Nassau County.
Annual taxes on the property, which were $597,880, would rise to $739,9091 at the end of a proposed 10-year payment-in-lieu-of-taxes agreement.
The IDA gave preliminary approval to an incentives package for Brookfield a year ago, but the size of the proposed complex was reduced from 114,000 square feet. The developer, which has yet to secure a tenant for the facility, expects to complete the project next year.
“The IDA’s preliminary approval of this project comes with the hope for new jobs and economic benefits to the town and the local community,” Hempstead IDA CEO Fred Parola said in the statement. “Moreover, the project will replace a vacant, unproductive, blighted property with one that will contribute to our local economy.”