Will we ever get to see inside the 65 luxury condos, indoor pool, and underground parking lot at the Bulova Watch Factory in Sag Harbor? The historic brick building was supposed to be rehabbed and on the market years ago, but lawsuits, environmental reviews, and a hiccup with the global economy has stalled the project.
But this week at a Sag Harbor Village Planning Board meeting, a representative from the the developer announced "the condominium project could move forward as early as this fall, but only if the planning board allowed three changes to its approval of the development, including when [the developer] must pay over $2.5 million into the Sag Harbor Community Housing Trust." The cash payment was part of the original deal that the developers struck with the Village so that they could avoid putting in any affordable housing units into the project (the cash would presumably be used to create affordable units elsewhere). The request to delay the payment seems to have the support of the board, but must first go before the village's attorney for review.