A long-abandoned site in the middle of Coram will soon be given new life as the old United/Artist movie theater is replaced by the new Wincoram Commons. The mixed-use development will provide a commercial space alongside 176 affordable workforce apartments.
Nearly $56 million will be invested in the local economy as the project employs 145 construction workers and provides over 30 new permanent jobs. Significant infrastructure work will be required in order to bring the new “smart growth” community into being, and funding has been obtained from both the public and private sector in order to make that happen.
“Wincoram Commons reached this successful milestone because of the overwhelming support of the Coram community and the commitment, hard work and funding from our public and private sector partners,” said Marianne Garvin CEO of Community Development Corporation of Long Island during the groundbreaking ceremony. “Investments of resources into revitalizing communities yield dramatic positive economic and social results and we are proud to be a part of this transformation.”
“Breaking ground on the Wincoram Commons redevelopment is a great example of what can be achieved through the strategic state and local partnerships we have fostered under the leadership of Governor Cuomo,” added Empire State Development President, CEO & Commissioner Kenneth Adams. “Wincoram Commons… will also ensure future growth by improving important infrastructure and bringing new business and economic opportunities to the Coram community.”
The Wincoram Commons was identified as a priority project by the Long Island Regional Economic Development Council in September 2012, allowing it to take a piece of the more than $2 billion in funding that has been distributed through the REDC initiative. The Common has also been awared a $1 million grant for the Community Development Corporation of Long Island and over $11.5 million in tax credits and tax-exempt bond financing through New York State Homes and Community Renewal. An additional $500,000 is being loaned to the project by CDCLI Funding Corporation.
“The mixed use community that will replace the old United/Artist Theater in Coram is exactly the type of new development we need in Suffolk County,” said Congressman Tim Bishop. “Not only will this project bring new life to a site that has been an eyesore for residents, it will do so in a way that uses smart growth principles to provide much-needed workforce housing.”
“It is a cause for optimism and celebration to see work beginning on a site that has for so long been a sad symbol of bad planning,” stated NYS Assemblyman Steven Englebright. “Like the arrival of springtime, this area will soon blossom into a vibrant center of our community.”
[Source: Governor Cuomo]
Photo via CDCLI.