Rechler Equity, which is developing the Calverton project under the name REPCAL LLC, is in contract to buy the 300 acres from the town for $35 million.

The company has submitted a block subdivision application which seeks to divide the 300 acres into five industrial blocks that range in size from 32.7 acres to 76.7 acres. In addition, it has submitted a commercial site-plan application for one of those proposed blocks, which is 48.9 acres in size, seeking to subdivide it further into lots ranging from 2.7 acres to 10.9 acres.

The site plan for the 48.9-acre block proposes the construction of nine light-industrial-use buildings totaling 318,475 square feet, and 8.1 acres that are designated as open space.

The development, which will be called "Rechler Center for Business and Technology," will be built in stages over a 10-year-period and is ultimately planned to include 2.7 million square feet of new industrial space at a cost of $302,955,321, according to the company.

Rechler has projected that the project will generate 3,751 construction jobs and 7,650 permanent jobs over the 10 years.

Rechler was also given a six-month extension on its due diligence period by the Town Board at its Aug. 19 meeting. That due diligence period outlines the steps Rechler has to take in order to satisfy the contract requirements; the extension is the second granted by the Town Board. The original deadline was Oct. 2, 2007, later extended to Aug. 31, 2008, and then again to Feb. 28, 2009.

Supervisor Phil Cardinale said the extension was granted because there was information not yet available that was needed by Rechler for its proposed sewer and water main extensions and also in relation to the state's Wild, Scenic and Recreational Rivers Act boundaries.

tgannon@timesreview.com

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