The redevelopment plan for the former Capital One bank branch on Love Lane in Mattituck could include as many as 12 affordable apartments.
The owners of the property, Hard Corner Partners, LLC, are asking Southold Town to give the project seven sanitary flow credits to be used to allow the greater septic flow created by the apartments. They had initially requested 1.6 credits, which were granted in 2021.
The Town Board has scheduled a public hearing on the matter for its Aug. 27 meeting at 7 p.m.
Pictured Above: The entrance of the former Capital One branch on Love Lane in Mattituck, which has approvals to be redeveloped.
The 17,652-square-foot building, on the corner of Love Lane and Pike Street, has been vacant since the Capital One branch moved to a location slightly west on the Main Road in 2017.
Hard Corner Partners received site plan approval from the Southold Town Planning Board in 2023 to redevelop the property with a 56-seat restaurant and two retail spaces on the first floor, and two commercial spaces and one affordable apartment on the second floor.
The property is currently listed for $2.575 million with Hamptons Compass Commercial, which is offering “attractive owner financing to qualified buyers,” according to the real estate listing.
The application for sanitary flow credits up for public hearing Aug. 27 asks for “12 affordable housing apartments, two retail stores and a small café.”
The project “won’t come back for site plan,” Southold Town Planning Director Heather Lanza told the Town Planning Board at its Aug. 6 work session, after the Town Board agreed July 30 to set the public hearing and send the changes to the project to the Planning Board and Building Department for review. “They’re small apartments — 450 to 500 square feet. The Town Board on Tuesday said they would give away the credits to people doing affordable housing.”
Here is the unit plan for the reconfigured space provided to the Southold Town Planning Department, which shows five apartments on the ground floor, seven apartments upstairs, a 16-seat café/coffee shop and two retail stores of 675 and 1,195 square feet, respectively.
The Town Board is able to set the price for sanitary flow credits by resolution, taking into account factors like the benefit to the community of the project. The board had previously in July of 2021 agreed to sell the 1.6 credits to Hard Corner Partners for the project for $16,000, when the project had included just one apartment to remain affordable in perpetuity.
Each sanitary flow credit gives an applicant the right to discharge 300 gallons of water per day pursuant to Suffolk County Sanitary Code, according to the Southold Town Code.
Planning Board members recommended approval of the changes.
