Construction has started on a $32.3 million affordable housing development that will further revitalize an underused stretch of waterfront in Nassau County in the City of Glen Cove.
Financed through the New York State Homes and Community Renewal, the project at Garvies Point will provide 55 energy-efficient homes for working families, including nine units adapted for individuals with mobility, hearing or visual impairment, New York Gov. Andrew Cuomo said in a recent statement.
The project will construct two four-story buildings with 55 apartments that are affordable based on the area median income. Developed by Georgica Green Ventures, the project includes six units that will be fully adapted for individuals with a mobility impairment and three units adapted for tenants with a hearing or visual impairment. The United Spinal Association and Cleary School for the Deaf will provide tenant referrals for the accessible units.
Amenities will include laundry rooms, bike storage, a children’s playroom, gymnasium, community room, and on-site parking. The development’s design is consistent with the historic character of the neighborhood’s waterfront area while also meeting Enterprise Green Communities Criteria and US Green Building Council LEED Silver Certification.
State support for the project includes the allocation of federal low-income housing tax credits that will generate about $13.4 million in equity and $7.7 million in subsidy from the state Homes and Community Renewal. Additional financing includes an $8.4 million subsidy from Barings and $900,000 in Nassau County HOME funds.
The development continues the city’s larger revitalization effort already underway to create new housing, retail, and recreational space on the underutilized Glen Cove waterfront. Surrounding the development are additional condominium and rental units, an amphitheater, retail stores, restaurants, and recreational space.
The project is also part of Gov. Cuomo’s $20 billion, five-year affordable housing plan. The governor’s plan will provide all New Yorkers with access to safe, affordable housing by building and preserving more than 100,000 units of affordable housing and 6,000 units of supportive housing. Since 2011, New York State Homes and Community Renewal has invested $366 million in Long Island to create or preserve nearly 3,000 affordable homes.