Friday, November 6, 2026
A long-awaited assisted living development in Oceanside is moving forward after receiving preliminary approval for financial incentives from the Nassau County Industrial Development Agency, bringing new life to a project that stalled several years ago amid rising construction costs.
Silver Fox of Oceanside NY LLC, an affiliate of McLean, Va.-based nonprofit Silver Fox Senior Living, plans to construct a $108 million assisted living and memory care facility at 380 Atlantic Avenue, offering additional housing and specialized care options for older adults in the community.
The proposed 77,312-square-foot facility will occupy a 2.36-acre property and feature 84 residential units, including 53 assisted living units and 31 memory care apartments.
The Nassau County IDA granted preliminary approval for financial assistance last week, including sales and mortgage recording tax exemptions and a 15-year payment-in-lieu-of-taxes agreement, commonly known as PILOT. The developer is also seeking to finance the entire project through tax-exempt IDA bonds, according to its application.
Silver Fox purchased the Atlantic Ave., property for $7.5 million in June.
Once completed, the facility will be managed and operated by Sunrise Senior Living, also in McLean. The company anticipates creating about 50 jobs when the facility opens, with employment expected to increase to as many as 70 positions within its first three years of operation.
Despite the process moving ahead, development has faced setbacks since its initial proposal.
In November 2022, the Town of Hempstead IDA approved financial assistance for the project, which was then owned by Sunrise Senior Living and estimated to cost $48 million. However, Sunrise subsequently withdrew its application after construction expenses increased significantly.
Now under Silver Fox’s ownership, the project’s estimated cost has more than doubled, reflecting the financial challenges associated with bringing the development to fruition.
The Oceanside facility will become Silver Fox’s second assisted living development on Long Island, with the first being in East Meadow.
The organization is also pursuing a $112 million project in East Northport, where it plans to construct a two-story, 72,092-square-foot assisted living and memory care facility on 6.1 acres along Pulaski Road.
That development, which will include 86 residential units and also be operated by Sunrise Senior Living, received approval for financial assistance from the Suffolk County IDA last week as well. Like the Oceanside proposal, the East Northport project previously sought IDA assistance before returning with revised financing arrangements.
Attorney Elisabetta Coschignano of Uniondale-based Sahn Ward Braff Coschignano is representing the Oceanside development, according to the IDA application.
Construction of the Oceanside facility is expected to take roughly 22 months once work begins. There has not been a set date for construction to begin yet.
