A real estate developer is looking to build a $100 million mixed-use building next to the Westbury LIRR train station
Gotham Organization, a Manhattan-based commercial real estate developer and property owner, was picked by the Metropolitan Transportation Authority, otherwise known as the MTA, to design and build a transit-oriented development at the site of a former MTA-owned parking lot.
“The development will add to an already vibrant and active downtown for the Village of Westbury,” a spokesperson for Gotham wrote in an email.
The five-story building is expected to include 157 apartment units, including roughly 10% of those homes set aside for moderate-income families, and 15,000 square feet of retail space, according to Gotham.
The building will include what the real estate company calls “a beautified streetscape” and a new public plaza connecting to the Westbury LIRR station, as well as a resident lounge and co-working space, a fitness center, a roof terrace with barbecue grills and a multi-sport simulator, according to Gotham.
Gotham’s agreement with the MTA includes a 99-year lease on the property and requires the developers to pay a base rent of $500,000 a year, which increases 12.5% every five years, according to MTA documents.
The developer said it must apply and obtain approvals from the Village of Westbury.
Gotham stated the construction timeline is roughly 20 months long and that its goal is to start work on the project in 2027.
The Village of Westbury has supported multiple recent housing projects near its downtown area.
In May, the village approved a 187-unit apartment complex to break ground at Union Avenue and Linden Avenue, near the LIRR station.
The Selby at 695 Merrick Ave. also opened in 2022, adding 237 rental apartment units to the village.
