Hempstead, NY Fred Parola, CEO of the Town of Hempstead Industrial Development Agency (IDA), said that they have given final authorization to economic development incentives that will assist a developer construct an affordable housing complex.
The IDA granted final approval to Carman Place Apartments LLC, a joint venture of the Community Development Corp. of Long Island (CDCLI) and Conifer LLC. The developers have pledged to provide millions to the area for sewers and water infrastructure to match state grants.
The project will replace existing 15,573 s/f building with two-residential buildings with a total of 228 affordable rental units, plus 22,600 s/f of commercial space on Main St. and Bedell St. in the Village of Hempstead. Both buildings will total 323,198 s/f. The residential buildings will consist of 30 studio apartments, 140 one-bedroom, and 57 two-bedroom apartments. These apartments will be 100% workforce housing.
, income-restricted for individuals and families earning up to $116,910.
The proposed 22,600 s/f of commercial space, approved separately, will target retail tenants. Ground-floor retail space is a village requirement.
The $121.5 million project on 2.54 acres is expected to generate 200 construction jobs and seven permanent positions. CDCLI, of Centereach, a non-profit housing agency, and Conifer, of Rochester, a private developer of affordable housing, plan to acquire the sites by June and then begin construction.
“This a major step forward toward the reinvigoration of Downtown Hempstead and at the same time brings much needed affordable workforce housing to the area, allowing households of all ages to remain in the community,” said Parola.
The IDA’s assistance to rental housing is a legitimate IDA function, according to ruling by the State Comptroller and the courts, because the projects promote employment opportunities and serves to combat economic deterioration in an area served by the IDA.
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