Billionaire Stefan Soloviev has proposed a new residential development in the North Fork area, aiming to convert 372 acres of farmland between Cutchogue and Peconic into nearly 50 luxury homes. According to the Suffolk Times, this plan has sparked significant local opposition from residents who are concerned that the character of the North Fork could change in ways similar to what has happened in the Hamptons.
The proposal, named the Colusa Conservation Subdivision by Soloviev Group, involves creating 47 residential lots on one of the region’s largest remaining farm properties. The design includes 18 parcels overlooking Long Island Sound and 29 located inland. The plan also promises to preserve 267 acres as farmland. If completed, the project could be valued at several hundred million dollars.
Initially, Southold officials described the proposal as “encouraging” because it followed a conservation subdivision model designed to maintain farmland while permitting some development. However, town planners have since raised concerns about how well the plan aligns with Southold’s comprehensive strategy for land use. Planning director Heather Lanza wrote last month that “the design didn’t conform to Southold’s comprehensive plan,” specifically pointing out that “residential spurs would cut through preserved farmland.” She recommended a “more compact clustered lot design” and improved integration of open space.
Soloviev is known for his growing presence on Long Island’s East End, where he has acquired substantial land holdings through Crossroads Atlantic LLC. The company operates farms across multiple states and previously withdrew an 11-lot development proposal for part of this site in 2021 following resistance from neighboring property owners.
This latest plan has generated vocal criticism both online and within local civic groups. Residents warn of “South Forkification,” referring to fears that an influx of luxury homes will lead to increased traffic and pressure on community services without benefiting local needs.
Civic leaders say they are monitoring developments closely. Carolyn McCall, president of Cutchogue’s civic association, indicated that her group might organize a public forum after any revised plans are submitted.
Board member Dave Bergen told the publication: “I’m hoping that the town will continue to strike that balance between economic development and also the preservation of our land and the quality of life that we enjoy so much out here in Southold.”
