Some buds have already begun to form, town officials say.
"One major developer has made some offers" to Riverhead Enterprises, the group that owns most of downtown's empty building stock, Riverhead Supervisor Sean Walter told the News-Review this week. These offers signal a potentially huge breakthrough in years of failed efforts to jump-start the area.
"They're working on it," he said of a possible deal.
Still another organization is eyeing the area for an extension of a business school based in western Long Island, he said. An assisted living development has also been discussed, and small businesses -- including a new branch of a popular East End bakery chain and a high-end nail spa -- may be looking at downtown Riverhead, according to the supervisor.
"One of my central focuses is to try to foster business downtown," Mr. Walter said, "and also to make sure that nobody goes out of business."
A parade of Riverhead officials spoke at the Feb. 5 summit. They made presentations on potential tax incentives for businesspeople who open shop downtown, as well as other benefits, such as the area's strategic location between the North and South forks.
People started biting immediately, Mr. Walter said. "Right after the meeting."
The town's director of community development, Chris Kempner, agreed. Her phone has been ringing steadily since February, she said.
"There's a lot of energy and excitement and momentum downtown," Ms. Kempner said. "And I think, moving forward, every month is going to bring something new, new development, a new groundbreaking. This definitely has some momentum behind it and we should start seeing some results in the spring."
As for negotiations between developers and landowners, such as Riverhead Enterprises -- a Nassau County-based group that has gotten heat for years for not taking proper care of its properties -- Mr. Walter said town officials will be keeping tabs on all potential players.
"We're planning a sit-down meeting with Riverhead Enterprises," he said. "We want to find out where they are going and what plans they have. And if we have to be that 800-pound gorilla in the room during any negotiations, then we will. But we hope we don't have to."
Sheldon Gordon of Riverhead Enterprises, who hosted the summit in one of his buildings, was out of town and could not be reached for comment.
As for the potential bakery, the owners of Blue Duck Bakery, which has shops in Southold and Southampton, said they are looking to expand and are considering sites on East Main Street.
"We are looking at a few locations, Riverhead downtown is one of them," said Keith Kouris, who runs the company with his wife, Nancy. "We think Main Street could be great for us. There's a lot of positive things going on downtown and it would be exciting to be a part of that. It certainly puts Riverhead in a good position."
He said the company is considering both buying or renting space, depending on price and availability.
"We should know in the next couple of weeks," Mr. Kouris said.