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Brokerage
Posted: December 17, 2019
Nassau County IDA gives preliminary approval of incentives for proposed project in Farmingdale
Farmingdale, NY According to Nassau County Industrial Development Agency (IDA) chairman Richard Kessel, the agency has given preliminary approval to a package of economic incentives for a proposed affordable housing complex.
The IDA board on November 21st gave preliminary approval to the incentives for Sterling Green at Farmingdale, LLC and D & F Development Group, LLC, of Levittown, which plans to construct a 61-unit affordable, workforce housing development on a 1.99-acre site at 860-906 Fulton St. The $31.693 million project will create 200 construction jobs.
“Workforce housing in the heart of the Farmingdale downtown district is a win-win transit-oriented development project,” says Nassau County Executive Curran. “I commend the Mayor, village board and all involved in this exciting project. This is just what Nassau County needs more of.”
“The IDA’s assistance helps developers, such as D & F Development Group to construct projects that are affordable to our residents, particularly our young people,” said Kessel.
The incentives package is subject to review by the IDA staff, a public hearing in the coming weeks and a final authorizing resolution by the IDA Board of Directors.
The Village of Farmingdale in October approved a new zoning designation for several lots on Fulton Street for workforce housing outside of its downtown.
D & F Development Group is best-known as a developer of affordable and senior housing.
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