The New York State Supreme Court has issued a ruling that the Town of Oyster Bay, on the north shore of Long Island, must issue a long-delayed special-use permit to Taubman Centers Inc. for The Mall at Oyster Bay. The mall, an 750,000-square-foot, roughly $500 million regional center to be anchored by Barneys New York, Nordstrom and what will be Long Island\u2019s only Neiman Marcus, has so far spent more time in court than under construction. \u201cThe court has now definitively ruled that there is no legal basis for the town to further delay the mall,\u201d Steve Kieras, Taubman\u2019s senior vice president of development, said in a prepared statement. \u201cWe\u2019re very pleased with the judge\u2019s ruling and are prepared to begin construction on The Mall at Oyster Bay pending the town complying with the court\u2019s decision.\u201dAs reported by CPN last year, on June 11, 2007, the same court set a 90-day final deadline for the town to either identify evidence that could ostensibly justify its demand for a Supplemental Environmental Impact Statement or else issue the special use permit for the mall. The court had originally ordered the issuance of such a permit in July 2002. \u201cThis is our 10th straight court victory,\u201d said Kieras said in the statement, \u201cand we hope this decision will break through the remaining political roadblocks\u2026.\u201dMorty Weber of Weber Law Group, which has represented Taubman in this six-year battle, told CPN that although opposition to the mall has partly been a NIMBY matter, \u201cIt\u2019s a market-share fight,\u201d too. He told CPN that rival mall developer Simon Property Group has contributed to citizen groups opposing the Oyster Bay center. Simon owns two regional malls 10 miles or less from the Oyster Bay site: the 2.2 million-square-foot Roosevelt Field Mall (the state\u2019s largest) and the 1 million-square-foot Walt Whitman Mall. The Mall at Oyster Bay will be the first new major retail property to open on Long Island in more than 30 years. Its site is a former wire manufacturing plant in the hamlet of Syosset, near the Long Island Expressway and South Oyster Bay Road, where site clean-up and prep work have been completed. Taubman has reported that construction of the mall will generate 3,000 to 3,500 building trades jobs, with 2,000 permanent jobs created once the mall is open. The company also estimates that the center will generate more than $8 million in annual real estate tax revenues for the town and for Nassau County, as well as nearly $30 million in annual sales taxes. Headquartered in Bloomfield Hills, Mich., Taubman Centers Inc. is a REIT that specializes in developing and managing regional shopping centers, currently owning or managing 24 properties in major U.S. markets. The company\u2019s Taubman Asia subsidiary is developing retail projects in Macao, China, and Incheon, South Korea.<\/p>\n","protected":false},"excerpt":{"rendered":"
The New York State Supreme Court has issued a ruling that the Town of Oyster Bay, on the north shore of Long Island, must issue a long-delayed special-use permit to Taubman Centers Inc. for The Mall at Oyster Bay. The mall, an 750,000-square-foot, roughly $500 million regional center to be anchored by Barneys New York,…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003814409","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n