Rechler Equity Partners Honored For Canoe Place Inn Restoration

HAMPTON BAYS, NY — The partners behind the transformation of the storied Canoe Place Inn in Hampton Bays were honored recently for their efforts.

Rechler Equity Partners — the largest owner and operator of industrial space on Long Island —were named "Developer of the Year" by the Association for a Better Long Island and Commercial Industrial Brokers Society at their 26th annual awards dinner.

The honor was bestowed based on the restoration and construction of the Canoe Place Inn & Cottages and the Canoe Place Boathouses in Hampton Bays. The 20-suite and 5-cottage Inn and 37-unit boathouses, which sit on opposite sides of the Shinnecock Canal, "are the result of a vision more than 15 years in the making thanks to partnership between Rechler Equity and the Hampton Bays community," a release said.

CPI is reportedly the oldest inn site in America. Records show that the inn, originally the home of Stephen Herrick, was the only house between Riverhead and Southampton in the 1700s. The Hampton Bays Historical Society's website said that Herrick's son, George, purchased the property from his siblings and operated the inn sometime after 1756 until 1785 when he sold it.
The Inn put up British officers during the American Revolution; there was a fort on the hill behind the inn that overlooked the main road and the isthmus at Canoe Place, the society said.

In 1921, the Canoe Place Inn was destroyed by a fire, though two chimneys survived. The inn was rebuilt and later rebuilt and enlarged.

The site later became a nightclub, which operated for years; after it closed, the property stood as a blighted eyesore for years.

In 2015, the proposed plan to expand the Canoe Place Inn and redevelop the land on both sides of the Shinnecock Canal was approved by the Southampton Town Board.

The plan raised some concerns among citizens, including Shinnecock Hills residents who advocated voting "no" to zoning changes. The Southampton town board listened to residents' concerns during the public hearing on the plan.

Others addressed residents' concerns and stated why they believed plan was a good idea.

In 2013, Hampton Bays residents — some there to see the deteriorating Canoe Place Inn brought back to its former glory, and others who had concerns about a busy business coming to their neighborhood and near the water — poured into Town Hall to speak out on a change of zone petition and draft environmental impact statement on the plan.

Initially, the plan was to raze the Canoe Place Inn and build a 75-unit private residential club. But after meeting community resistance, in late 2009 the Rechlers scrapped the 75-unit plan. Instead, the thought was that they would raze the building and build as of right, skipping the arduous process of requesting a change of zone.

"We actually went as far as pulling the demolition permit," Rechler said during his presentation in 2015. But instead of going forward with using the demolition permit, Rechler said they agreed to hold off.

He said that he became caught up in the romanticism of saving and restoring the historic inn, and the new plan called for building the townhomes on the east side of the Shinnecock Canal to subsidize saving the inn.

"We're going to rehabilitate something that's important to all of us in the community," he said.
The plan also included public access to the waterfront at the townhomes; he said the plan was changed from condos to townhomes because there would be greater tax revenue for the town.

Several residents said the plan was the right plan for Hampton Bays."This is a no-brainer," a resident remarked during the public comment period of the hearing. "This is a deal that has to be done."

"This award is a testament to the hard work and collaboration our team, our partners and the community put into restoring the Canoe Place Inn while also accommodating for present day aesthetic, and amenities," said Mitchell Rechler, co-managing partner of Rechler Equity, as they received the award. "We are grateful for the opportunity to work alongside the Town of Southampton and the Hampton Bays residents, whose endless passion for their community is remarkable. We feel this development’s design pays homage to the region’s rich history and seamlessly connects the past and present. Thank you to ABLI and CIBS for acknowledging our work."

As part of their ongoing partnership with the local community, and as a way of developing much-needed staff, Rechler Equity Partners, Canoe Place, and the Hampton Bays School District have also been collaborating on a Hospitality Academy.

The curriculum teaches students and adults in the community about the Inn’s historic significance and various aspects of the hospitality industry, resulting in internship and employment opportunities to strengthen the local economy. Currently, the Inn employs 125 individuals, including administrative, culinary, maintenance and other roles.

"Community partnership serves as the guiding principle in all of our development projects, and the Canoe Place Inn and Canoe Place Boathouses are a prime example," said Gregg Rechler, co-managing partner of Rechler Equity. "The Inn is once again a premier location thanks to the input we received from the Hampton Bays community," he added.

The property’s restored ballroom and pavilion have also become a sought-after venue for large-scale events such as weddings and galas, as a 350-seat catering facility.

In 2022, Rechler Equity partnered with luxury destination brand Inspirato to handle bookings for the Canoe Place Boathouses.