Gianos Property In Southampton Village Finally Being Developed

Construction on a piece of property in Southampton Village that has been slated for development for close to a decade is moving forward this year, with the first three lots already purchased.

The Olde Towne Southampton housing complex is on a former 50-acre farm field in the estate section at the corner of Old Town Road and Wickapogue Road. The development plan, which will be undertaken by the Kean Development Company, was at the center of controversy in 2007 when it was approved by Southampton Village.

According to the Olde Towne website, the subdivision will follow the original proposal: Ten new homes will be built on four-acre lots. However, the individual homes must get approval from the village Architectural Review Board before proceeding, Village Mayor Mark Epley said last week.

“These are very large houses on large lots,” Mr. Epley said. “They are definitely going to have to go through the ARB, but they are done with the Planning Board.”

The Olde Towne development met resistance from locals when it was first proposed in 2006 because it will put residences on one of the largest tracts of undeveloped land in the village and is near the original location of the village’s original English settlement. At the time the project was first proposed, several organizations, including the Southampton Town Community Preservation Fund and Southampton Village officials, looked into ways to preserve the space, but price of the property made it impossible, Mr. Epley said.

The land was originally purchased by Bob Gianos for more than $33 million in early 2006, and the project won Southampton Town Village Planning Board approval in 2007. After securing approval in 2007, Mr. Gianos put the land lots on the market several times, but a failing economy forced the project to be put on hold.

While Olde Towne was off the market, it underwent some sprucing up, including the installation of more than two miles of privet hedge. And of the 400 mature trees planted on the site last year, Mr. Gianos estimated that about 8 percent required replacement because of “various transplant issues.” Last year, the project was sold to the Kean Development Company to move forward.

Mr. Gianos referred all questions regarding the property to the developers; representatives from Kean Development Company were not immediately available for comment this week.

Along with the 10 lots that will hold mansions, there are two planned parcels for open space on the property, one referred to as The Meadows, and one The Green. This reduces the number of houses that will be built on the property, with Mr. Epley explaining the owners had the right to develop roughly 15 homes.

“We ended up with preserved parkland and less than the maximum development,” he said.