A plan to build nearly 100 luxury apartments on eight acres of former Islip Speedway land south of the parkway was given a green light by the Islip Town Board last week.

The board unanimously approved a zoning change that will allow developer Mark Sagliocca of Gracewood Estates LLC to build Gracewood Estates — along with a neighboring storage center.

The plan calls for the apartment building, consisting of 96 units, and a central gazebo — with covenants that limit the size of the flats to a maximum of two bedrooms each, according to the town application.

“This is a true luxury community with a South Shore design and facade,” Sagliocca said. “This is not the usual Army barracks looking thing you would see from years ago. It’s appealing in design. And we are very encouraged that the rental market is strong and we’re going to have great tenants.” 

Sagliocca, who also built the Chelsea Place apartments near the Bay Shore railroad station, says he’s looking to start building in Islip in 2018.

Sean Colgan, a principal planner with the Town of Islip, said the Town Board allowed the zoning change from industrial to multi-family in part because it envisions the property as a transitional space between existing industrial uses and residential dwellings.

“Some neighbors in the single-family [homes] area were concerned of the impact that an Industrial 1 property might have right next to them,” Colgan said.

Sagliocca said that Gracewood Estates LLC will make improvements to Winganhauppauge Road, which borders the eastern side of the new development, as well as upgrades at the town rifle range, which is across Freeman Avenue on its western side (map below)

He also pointed out that, as a developer, his companies manage their own properties.

The proposal, as well as the zone changes, has already gone through the town’s planners and the final site plans are now with the town’s engineering division, which will handle the project administratively, said Colgan.

The 1.7 acres where the storage units will be built is on the land’s west side.