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RIVERHEAD, NY-Riverhead Resorts LLC contract with the town herewas approved, following consideration of the draft contract and theQualified andEligible Sponsor evaluation in which the Riverhead TownBoard determined it has the financial capability and qualificationsto develop its proposed $1-billion to $1.5-billion project. Theproposed project is a multiple-themed destination resort plan forthe 755-acre former Grumman property designated by Riverhead Townon the Enterprise Park Calverton. The town approval authorizes thetown supervisor to sign the contract negotiated with Riverhead Resortsover the past several months.

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"Riverhead Resorts is thrilled to have satisfied thisprerequisite and can now move forward with the engineering andenvironmental work which are the foundation of project and sitedevelopment," says Don Secunda Esq. of Weber Law Group, counsel tothe project. Secunda tells GlobeSt.com that he expects that withinabout two to three years, all the permits for construction shouldbe secure and construction can begin. "Not only are we confidentthat this project represents the highest and best use for thisproperty but the down payment and community benefit payment whichwill be released to the town in 2008 are the first of thetremendous economic outcomes this project represents for the townand region."

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The completion of the QES process and the contract authorizationallow the project to proceed with the detailed environmentalstudies and to initiate the State Environmental Quality Review Actincluding active community participation. Riverhead Resortsdeveloped its project concept based on environmental parametersbefore its proposal to the town. The project team first outlinedenvironmental protection zones for Pine Barrens, tiger salamanderhabitat, and other wetland and surface water features. Multi-modalon and off site transportation planning for staff and the extendedstay guests will reduce traffic impacts bringing visitors andworkers to the site utilizing a variety of transportation modes.Guest transportation is provided to regional attractions includingRiverhead shopping, entertainment and museum destinations, regionalwineries, and East End beaches and locales expanding the economicimpact and benefit of the year-round, extended-stay business andfamily guests from the metropolitan area, 100-mile northeastregion, national and international air traveler markets.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.