A
prominent magazine publisher is taking steps to address the issue of affordable housing for workers in the Hamptons area. Kirby Marcantonio, responsible for Hamptons Life and Montauk Life magazines, is spearheading a workforce housing project at 350 Pantigo Road in East Hampton. This project is seen as an opportunity for employers to support their employees in an expensive housing market.

    Marcantonio envisions a complex with 48 units, each costing up to $850,000 for three bedrooms. The site, which he acquired for $5 million in April, is already zoned for affordable housing. However, he needs the support of the town board to move forward with his plan. So far, council members' reactions to the proposal have been lukewarm, with at least one member expressing concern about potential "pay-for-play" aspects of affordable housing.

    Marcantonio has offered to modify his proposal to address these concerns. In a memo last month, he proposed setting aside half of the units for healthcare workers and 30% for municipal and school workers, leaving only a fraction for private businesses to purchase. He has received support from local restaurant groups such as Alchemy Hospitality and Honest Man Hospitality, which operates Nick & Toni's. Honest Man CEO Mark Smith has had to build housing for his employees to enable them to live locally.

    Despite the challenges, Marcantonio remains optimistic about the potential of his project to be replicated elsewhere, including in Southampton, where he is in early discussions about a similar development. However, board members have also raised concerns about rumors suggesting that Marcantonio's proposal is being funded by Apollo Global Management co-founder Marc Rowan, who is involved in a dispute with the town over expanding his waterfront restaurant. Marcantonio has publicly denied Rowan's involvement in the project.