Our Agricultural heritage as a potato growing region of old, was recently fueled by a surge in specialty produce (the best corn in the world, and specialty vegetables served in Manhattan's hottest restaurants). Especially the vineyards, have recently brought a lot of excitement as well as investment and economic activity to the North Fork, compared by some to what happened in Napa Valley, CA.

Agri-Tourism in combination with the enjoyment of a plethora of other attractions have made this geographically small region popular. The economy is now driven by Epicurean tourists and second homers looking for the bucolic lifestyle along the water only the North Fork has to offer within two hours from the Mid Town Tunnel in Manhattan.

Development Rights - the Peconic Bay Region Community Preservation Fund

The Agricultural aspect of our region both in aesthetic and economic aspect has actively been preserved by the sale of development rights: A land-owner can decide, while maintaining ownership of the land, that the land will be used in perpetuity only for agricultural use and open space. The landowner/Farmer can sell his (mostly) residential and most commercial development rights to obtain the capital needed to keep farming. On the North Fork, the Town of Southold, Suffolk County, the Peconic Land Trust and sometimes other organizations have actively provided funding for the purchase of these development rights. In 2007/8 the amount of money paid for these rights has reached almost $80,000 per acre, some funded by the 2% tax on real estate transfers. The specific easements decide in each property the specifics on what will and what will not be allowed on development right sold land. Sometimes, development rights can be transferred to other properties.

Conservation subdivisions

The Town of Southold has played an active role in trying to prevent the urbanization of our bucolic region. Regular subdivisions of large tracks of land are hard to achieve. The town has allowed "conservation subdivisions" allowing for limited development while preserving 75% of land.

Affordable Housing is one sector usually looked favorably on, and is usually expected to be a part of any subdivision or transfer of development transaction, to a degree, where it allows locals to remain in this region with its rising real estate prices.

Call Buyers Connections Realty Corp for more information on development on the East End.