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Taubman's Oyster Bay Project Delayed Again

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Taubman's ongoing battle to try and build a mall on Long Island has hit yet another roadblock.

THE Appellate Division in Brooklyn has overturned a State Supreme Court justice's strongly worded order that compelled the Town of Oyster Bay to issue a special use permit, against its will, allowing construction of a long-debated luxury mall in Syosset.

The appellate ruling, the most favorable yet for the town in its eight-year court fight with the mall developer, Taubman Centers Inc. of Michigan, is a major new hurdle for the proposed 750,000-square-foot mall. Taubman, which acknowledged that the $500 million project faced new delays, called the ruling flawed and said it would seek to appeal.

This project has been delayed for years. What's a few more? In this climate, it's probably better off getting pushed back a little.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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