Inwood, NY-Nassau County Executive Thomas R. Suozzi announced at a press conference today that Nassau County will be working with the Town of Hempstead and the Long Island Housing Partnership to build affordable housing units in Inwood. The County Executive was joined by President of the Long Island Housing Partnership Peter Elkowitz, Chairman of the Long Island Housing Partnership Peter Klein and Legislator Jeff Toback (D-Oceanside).

County Executive Thomas R. Suozzi, center, announced at a press conference that Nassau County will be working with the Town of Hempstead and the Long Island Housing Partnership to build affordable housing units in Inwood. The County Executive was joined by Legislator Jeff Toback (D-Oceanside), left, Jonathon Davis of the Five Towns Community Center, far right, and Deputy County Executive of Economic Development Rev. Patrick Duggan, far left.

"With home prices steadily rising in Nassau County, the 'American Dream' of owning a home is not possible for many residents. It is essential that we make home-ownership a reality for first-time Nassau County homebuyers," County Executive Suozzi said. "The collaboration between Nassau County, the Town of Hempstead and the Long Island Housing Partnership is a win-win for everybody."

The Long Island Housing Partnership will be constructing eight housing units on an empty lot located on Harris Avenue in Inwood. The cost to develop each unit is less than $150,000, made possible by a $30,000 subsidy from Federal Home Grant and a $25,000 subsidy from New York State Affordable Housing. All homes will be sold to individuals earning no more than 80% of the area median income requirement and the selection of homeowners will be done through a lottery process, with priority given to Inwood residents.

Long Island Housing Partnership Peter Klein said, "The Long Island Housing Partnership wants to thank Nassau County for taking this step to fulfill the growing need for workforce housing. We look forward to working with Nassau County and the Town of Hempstead to complete this much-needed development for the working families in Inwood."

Nassau County will be providing HOME Down payment Assistance Program funding for this project, which is available for prospective applicants who meet specific guidelines. The Down Payment Assistance Program funds are essentially a deferred payment, non-interest loan, to assist the buyer in a first-time Nassau County home purchase. Prospective applicants will also receive mortgage counseling from the Long Island Housing Partnership and the Nassau County Office of Housing and Intergovernmental Affairs.

"We are standing on the site of what will soon be the realization of the American dream for several Inwood residents- home ownership. I am proud to have been part of this project, and eagerly look forward to the day that the beautiful homes are built and ready for occupancy," said Legislator Toback.