Tax breaks awarded for planned transit-oriented housing near Mineola LIRR
A Mineola based-developer plans to build a 30-unit apartment complex on First Street in Mineola, near the train station. Credit: Ambrosino Consultant Corp.
The Nassau County Industrial Development Agency has granted tax breaks for an $11.5 million transit-oriented housing development near the Mineola train station, part of a village-wide push to boost its housing stock.
Mineola-based developer Ambrosino Consultant Corp. plans to build 30 apartments at 155 First St., less than a half mile from the village's Long Island Rail Road station and close to several bus lines, the developer said. Three of the one-bedroom units will be reserved for households earning up to $100,000 in annual salary, according to John Gordon, the developer's attorney.
The Nassau IDA has approved a 15-year tax incentive package that includes a sales tax exemption of up to $442,074, plus up to $71,250 off the mortgage recording tax exemption, Gordon said.
The property tax deal calls for the tax rate to increase 2% each year, according to Sheldon Shrenkel, CEO and executive director of the IDA.
The proposal represents another example of Mineola’s yearslong push to build more housing.
Mineola has added more than 1,100 multifamily apartment units over the past 12 years, bringing the village total to more than 3,000, said Paul Pereira, mayor of Mineola. Another 800 units have been approved, he said, and are either under construction or in the planning stages.
In February, Mineola was one of 20 municipalities in the state to be certified as "pro-housing" by the administration of Gov. Kathy Hochul. The designation rewards communities that are strategizing to increase housing options for residents.
"The vision for me is to create a downtown that is walkable, that is a destination, that acts as a magnet for people to come, to not only live and shop and work," said Pereira. "To do that, we need to build a critical mass of people."
The new building's "proximity to the train station and bus lines will facilitate and encourage residents to use mass transit and ultimately reduce the demand for automobiles," according to the developer's proposal.
New developments give "the opportunity for the younger people in our area to be able to pay Long Island rent, but live a type of city lifestyle," said Michael Ambrosino, who owns the development company. "They can work in the city, they can play in the city, go to the gym in the city, go to dinner in the city."
Direct trains from Mineola to Penn Station and Grand Central are often under 50 minutes.
The developer plans to build 28 one-bedroom apartments and two studios, aimed to appeal to young professionals and young families, Ambrosino said.
Ambrosino owns the property, which consists of an office building staffed by 40 full-time employees across four companies — including Ambrosino’s firm — and a parking lot. The lot services the office complex but is underutilized, Pereira said, and takes up about 80% of the property.
A 10,000-square-foot portion of the building previously occupied by a law firm will be demolished. The three-floor, 30,000-square-foot residential building will be built atop the parking lot.
The IDA approved the proposal because it would "create new jobs in Nassau County that would otherwise not exist," Shrenkel said in a statement.
"With this project we get new jobs and the retention of 40 existing jobs, new revenues for taxing jurisdictions and additional units of much needed affordable housing," Shrenkel said.
The developer will create one full-time administrative job at an annual salary of $45,771, according to an application for IDA tax breaks.
The Nassau County Industrial Development Agency has granted tax breaks for an $11.5 million transit-oriented housing development near the Mineola train station, part of a village-wide push to boost its housing stock.
Mineola-based developer Ambrosino Consultant Corp. plans to build 30 apartments at 155 First St., less than a half mile from the village's Long Island Rail Road station and close to several bus lines, the developer said. Three of the one-bedroom units will be reserved for households earning up to $100,000 in annual salary, according to John Gordon, the developer's attorney.
The Nassau IDA has approved a 15-year tax incentive package that includes a sales tax exemption of up to $442,074, plus up to $71,250 off the mortgage recording tax exemption, Gordon said.
The property tax deal calls for the tax rate to increase 2% each year, according to Sheldon Shrenkel, CEO and executive director of the IDA.
The proposal represents another example of Mineola’s yearslong push to build more housing.
Mineola has added more than 1,100 multifamily apartment units over the past 12 years, bringing the village total to more than 3,000, said Paul Pereira, mayor of Mineola. Another 800 units have been approved, he said, and are either under construction or in the planning stages.
In February, Mineola was one of 20 municipalities in the state to be certified as "pro-housing" by the administration of Gov. Kathy Hochul. The designation rewards communities that are strategizing to increase housing options for residents.
"The vision for me is to create a downtown that is walkable, that is a destination, that acts as a magnet for people to come, to not only live and shop and work," said Pereira. "To do that, we need to build a critical mass of people."
The new building's "proximity to the train station and bus lines will facilitate and encourage residents to use mass transit and ultimately reduce the demand for automobiles," according to the developer's proposal.
New developments give "the opportunity for the younger people in our area to be able to pay Long Island rent, but live a type of city lifestyle," said Michael Ambrosino, who owns the development company. "They can work in the city, they can play in the city, go to the gym in the city, go to dinner in the city."
Direct trains from Mineola to Penn Station and Grand Central are often under 50 minutes.
The developer plans to build 28 one-bedroom apartments and two studios, aimed to appeal to young professionals and young families, Ambrosino said.
Ambrosino owns the property, which consists of an office building staffed by 40 full-time employees across four companies — including Ambrosino’s firm — and a parking lot. The lot services the office complex but is underutilized, Pereira said, and takes up about 80% of the property.
A 10,000-square-foot portion of the building previously occupied by a law firm will be demolished. The three-floor, 30,000-square-foot residential building will be built atop the parking lot.
The IDA approved the proposal because it would "create new jobs in Nassau County that would otherwise not exist," Shrenkel said in a statement.
"With this project we get new jobs and the retention of 40 existing jobs, new revenues for taxing jurisdictions and additional units of much needed affordable housing," Shrenkel said.
The developer will create one full-time administrative job at an annual salary of $45,771, according to an application for IDA tax breaks.
Joshua Needelman covers the Town of North Hempstead for Newsday. A Long Island native and University of Maryland graduate, his work has appeared in publications including The New York Times and The Washington Post.
Cell phones in schools ... Trump back on LI ... New walk-in clinic ... Brentwood school garden
Cell phones in schools ... Trump back on LI ... New walk-in clinic ... Brentwood school garden
