Riverhead Opportunity Zone

WC provided the seed capital required for local sponsor HREA to acquire the first 3 of 12 buildings being assembled along Main Street in Riverhead, NY. Once acquired, existing retail buildings were repositioned, and others scheduled for redevelopment or new multifamily development. Subsequent to initial investment, WC became more involved in the project strategy and execution with HREA, ultimately raising the majority of the project equity and providing a clear path for HREA to complete the assemblage.


Site Area: 12 Buidings
Year Bought: 2020-2022
Repositioning Start Date: 2021
Estimated Total Project Costs: Existing buildings estimated at $15,000,000 and new multifamily estimated at $60,000,000