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A portion of Tritec’s Station Yards project in Ronkonkoma that was under construction last fall. / Photo by Judy Walker
Long Island business groups launch real estate investment survey
A portion of Tritec’s Station Yards project in Ronkonkoma that was under construction last fall. / Photo by Judy Walker
David Winzelberg //January 6, 2025//
A coalition of Long Island business groups issued a survey Monday aiming to evaluate the investments that regional real estate developers make on and off the Island.
The “Long Island Economic Investment Survey” is an initiative of the Long Island Association (LIA), Association for a Better Long Island (ABLI), and Long Island Builders Institute (LIBI). The survey is administered by Long Island University’s Steven S. Hornstein Center for Policy, Polling, and Analysis, which will be until the end of January.
The survey was launched to shed light on the future plans of developers to build more housing as the region continues to experience challenges with the diversity and affordability of housing, according to a joint statement from the three business groups. In addition, the survey is aimed at assessing obstacles to commencing and completing development projects on Long Island and reforms that could streamline the process.
“Long Island is at a crossroads – we can build and develop creative solutions to address our housing crisis, or we do nothing and continue to hemorrhage residents and businesses,” LIA President and CEO Matt Cohen said in the statement. “This survey will be critical to understanding the specific needs of the companies that are involved in development and to ensure policy accommodates the continued growth of our region. I thank our colleagues at ABLI and LIBI for collaborating and Long Island University for administering the survey.”
Kyle Strober, executive director of ABLI, said, that while the cost of doing business here puts Long Island at a disadvantage with competing regions, the study’s data will quantify the depths of the problem.
“This information will be a critical tool in demonstrating to our elected officials how current conditions are impacting our region and to be mindful of their past and future policy decisions,” Strober said in the statement. “As the government has a significant economic impact on Long Island the strategic goal must be to create additional jobs and housing, not push them away.”
LIBI CEO Mike Florio added that it’s crucial for both government and the private sector to collaborate in addressing the underlying issues that have contributed to the area’s housing crisis.
“The home building industry is a vital component of Long Island’s economy, providing not just jobs but also contributing to the overall economic stability of the region,” Florio said in the statement. “If builders and investors find more favorable conditions elsewhere, it could result in a detrimental cycle where decreased investment leads to fewer job opportunities and further population loss.”
Kimberly Cline, president of Long Island University, said the importance of the survey is a crucial step in understanding the economic forces shaping Long Island’s development landscape.
“Long Island University is proud to contribute our research expertise through the Hornstein Center to help inform policy decisions that will affect our region’s growth,” Cline said in the statement. “Our involvement in this initiative reflects our commitment to fostering sustainable economic development across Long Island.”
The survey can be accessed at surveymonkey.com/r/6LRYF3D.
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The survey was launched to shed light on the future plans of developers to build more housing here.
The 6,826-square-foot building is on .17 acres.
Hamptons home sales increased by 21 percent year over year.
The 10 priciest home sales ranged from $7.508 million to $21 million.
The new-to-Long-Island businesses included restaurant chains, food stores, entertainment venues and […]
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