The Town of Riverhead announced the signing of the Master Developer Agreement with J. Petrocelli Development Associates. The agreement sets the stage for the construction of the long-anticipated Downtown Riverhead Town Square, a transformative project that the town said will reconnect Main Street to the Peconic River while creating a vibrant, year-round public gathering space.
Supervisor Timothy C. Hubbard joined Joe Petrocelli to formalize the partnership during a ceremonial signing event at Town Hall on August 19.
To mark this historic economic development milestone, Hubbard was accompanied by fellow Town Board members Ken Rothwell, Bob Kern, Denise Merrifield, and Joann Waski, Director of Economic Development, Planning and Building Dawn Thomas, Town Attorney Erik Howard and Financial Administrator Jeanette DiPaola.
“This is a big day for Riverhead and for the Long Island region,” Hubbard said. “With this agreement signed, Joe Petrocelli and his team can officially get to work on what I’ve been calling the ‘heart transplant’ for Downtown Riverhead — a vibrant Town Square that will attract residents and visitors alike, and finally link our historic Main Street to the beauty of the Peconic River.”
The Downtown Riverhead Town Square is envisioned as a dynamic civic space that will blend recreation, culture, and commerce. Designed with pedestrian-friendly walkways, landscaped green spaces, community seating areas, and an open plaza for public performances and events, the Town Square is poised to become the centerpiece of Riverhead’s ongoing revitalization strategy. The project is expected to bring new economic opportunities by supporting existing downtown businesses, drawing visitors to Riverhead, and encouraging additional investment in the Town’s core business district.
“This is more than just a construction project,” said Petrocelli, of J. Petrocelli Development Associates. “This is about building the future of Riverhead. The Town Square will serve as the catalyst that generates year-round activity, connects our residents with their waterfront, and sends a clear signal that Riverhead is ready to thrive as the cultural and economic hub of the East End.”
“From the very beginning, the Town Square has been central to our vision for revitalizing downtown,” said Thomas. “Our goal has always been to create a public space that fosters community pride, supports local businesses, and makes Riverhead a waterfront destination. Today’s agreement is the critical step that allows us to move from concept to construction.”
The Master Developer Agreement follows years of planning, community engagement, and investment aimed at revitalizing Riverhead’s historic downtown. By reclaiming underutilized space and transforming it into a lively hub of activity, Hubbard said, the Town Square will serve as a symbol of renewal for Riverhead residents and a welcoming destination for visitors from across Long Island and beyond.
Construction is anticipated to begin in the coming months, with project milestones and public updates to be shared regularly by the Town and the development team.
“This is the kind of project that defines a generation,” Hubbard added. “We are building more than a square—we are building community pride, opportunity, and a stronger future for Riverhead. It has been a long journey to get to this day, and now, the real work begins.”