Developers of a planned apartment project in East Meadow have received preliminary approval for economic incentives from the Town of Hempstead Industrial Development Agency. 

The Newbridge Residence at 558 LLC, headed by Andrew Zucaro, John Brunetti and James O’Donnell, is planning to construct two separate buildings totaling 21,210 square feet on a 1.15-acre vacant lot at 558 Newbridge Road. The lot previously belonged to St. Raphael Roman Catholic Church. 

The development will have 20 two-bedroom, two-bathroom apartments. The $8 million project has town zoning and site plan approval, which were obtained by a prior owner, according to an IDA statement. 

The developers are seeking a 20-year payment-in-lieu-of-taxes agreement, which would raise property taxes from $34,931 currently to $180,000 in its final year, according to the IDA. The project is expected to create up to 70 construction jobs and one part-time permanent position. 

“This project will help to satisfy the demand for quality rental housing in East Meadow and in the Town of Hempstead while, over time, generating substantial revenues for the affected taxing jurisdictions,” Fred Parola, CEO of the Hempstead IDA, said in the statement. 

Zucaro, who owns Freeport-based Zucaro Construction, is a prolific developer who has built a variety of multifamily, hospitality, retail and other commercial projects over the past 45 years. His developments have earned several accolades, including a Smart Growth Award from Vision Long Island for a 115-unit apartment complex in Amityville. 

The IDA benefits for the East Meadow project still requires a public hearing, scheduled for Tuesday, Dec. 2, before a final authorizing resolution can be approved. 

Construction on the development is expected to start shortly with completion projected towards the end of next year.