Developers break ground on $32M affordable housing project at Garvies Point in Glen Cove
Jericho-based Georgica Green Ventures LLC is building workforce housing on Dickson Street in Glen Cove as part of the 56-acre Garvies Point waterfront development project. Credit: Danielle Silverman
Developers broke ground Thursday on a $32.3 million, 55-unit affordable housing project as part of the Garvies Point development in Glen Cove.
Gov. Andrew M. Cuomo said in a news release that the project "will provide critical affordable housing in Glen Cove, while also continuing the city’s ongoing effort to transform this once-underutilized swath of waterfront into a vibrant community."
RXR Realty selected Jericho-based Georgica Green Ventures LLC to build the affordable housing project on Dickson Street as part of the $1 billion, 56-acre waterfront development that is planned to create 1,110 units of condos and apartments when completed.
"The demand for quality workforce housing is unprecedented," Georgica Green Ventures president David Gallo said in an interview. "We all know how difficult it is to find quality, affordable rental housing, and the more we can build I think the better our communities will be."
The affordable housing project will include two four-story buildings with a mix of studio, one-bedroom and two-bedroom apartments. Gallo said he anticipates construction will last 18 months.
The apartments will be open to anyone who meets income guidelines ranging from 30% to 100% of area median income — currently $129,900 for a family of four on Long Island, according to figures provided by Nassau County — and is chosen by lottery, Gallo said. The average rental is expected to be $1,600 a month, and affordability price restrictions will remain in place for 50 years, he said.
The buildings will include laundry rooms, elevators, a children’s playroom, a gymnasium, community room and 91 parking spaces, according to project documents. They will also include six units adapted for people with mobility impairment and three units for people with hearing or visual impairments.
Nassau County Executive Laura Curran, second from left at the July 1, 2021, groundbreaking ceremony, said the project is an example of "how government can partner with the private sector to provide affordable places for people to live while delivering much-needed economic development for our communities." Credit: Danielle Silverman
The project is being built with a combination of subsidies, including federal low-income tax credits, a $7.7 million subsidy from New York State and $900,000 from a federally-funded Nassau County affordable housing program.
Nassau County Executive Laura Curran said in a news release that the project is an example of "how government can partner with the private sector to provide affordable places for people to live while delivering much-needed economic development for our communities."
'No one wants to pay more taxes than they need to' Nearly 20,000 Long Islanders work in town and city government. A Newsday investigation found a growing number of them are making more than $200,000 a year. NewsdayTV's Andrew Ehinger reports.
'No one wants to pay more taxes than they need to' Nearly 20,000 Long Islanders work in town and city government. A Newsday investigation found a growing number of them are making more than $200,000 a year. NewsdayTV's Andrew Ehinger reports.
