A 43-unit condo development is slated for the east coast of City Island, to be developed by Greystone. Construction is already underway and sales start this fall.

It will be a gated community with an esplanade along the water with benches and a gazebo.

This is the first large residential development in 15 years on the island.

City Island's community board District Manager Kenneth Kearns said he is grateful that Greystone was willing to work with the community to plan a good project to make use of the former industrial site.

"They have a good attitude working with the community and the fact that they'll produce a quality housing site will be welcomed," Kearns said.

The condo will consist of 21 two-family dwellings, a one single-family home and a clubhouse. It will be located on five acres at 226 Fordham Place. Prices will start at $400,000 for two-bedroom homes and $500,000 for three.