FARMINGDALE, NY-TDI Real Estate Holdings LLC, based in irving,TX, has launched construction on a $40-million multifamily projectthat will create 154 apartments, almost 20,000 square feet ofretail space and secure parking directly across the street from theMTA/Long Island Rail Road's Farmingdale Station.

“The Farmingdale Station project is a unique opportunity tocreate a mixed-use transit oriented development in the heart ofNassau County,” says Greg Belew, TDI investment partner, Northeast.“TDI was able to partner with a local developer who could notobtain financing and finished design and approval work to getconstruction underway for a project that will serve an area in needof revitalization.”

Bartone Properties, a Farmingdale-based developer, entered anagreement to purchase the property in 2007, but spent nearly sixyears obtaining approvals for the project before seeking apartner. The original project design was awarded the VisionLong Island Award in 2012 given to organizations and individualsthat demonstrate smart-growth leadership.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.