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GLEN COVE, NY-A partnership headed by RXR Realty LLC hopes to break ground late next year on the first phase of a $1-billion mixed-use project on this Nassau County community’s waterfront.

RXR is the managing partner of RXR Glen Isle Partners LLC, which includes Renaissance Downtowns LLC and the Posillico Group. The team hopes to build Garvies Point, which when fully built out will feature a total of 860 rental apartments and condominiums. The plan for the property that once housed factories, also calls for a 250-room hotel and conference center, 50,000 square feet of commercial and office space and 25,000 square feet of retail and restaurant space, according to the Wall Street Journal. The project will also include parks, a marina and a promenade along the city of Glen Cove’s waterfront.

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