MINEOLA, NY — The Nassau County Industrial Development Agency (IDA) on May 16th approved critically important tax agreements for two housing developments in Garden City and Great Neck, furthering the on-going effort to expand housing options in the County.
“Nassau needs more rental housing – particularly at more affordable price points,” said County Executive Curran. “I’m especially pleased by the IDA’s approval of the Southern Land Garden City project, which will include some much-needed affordable units, and I commend the developers’ commitment.”
“Expanding the County’s housing stock is a priority for the IDA particularly for transit-oriented development and affordable housing,” said IDA Chairman Richard Kessel. “These transactions recognize that housing is key to attracting great companies to the County.”
The IDA’s tax agreement with SLC Development, LLC, an affiliate of Southern Land Co, will allow the developer to construct a 150-unit rental apartment complex on a long-vacant site in the east section of Garden City adjacent to Roosevelt Field. SLC will include 10% of the units as affordable (for renters making between 40 and 80 percent of the area median income), as required by Village zoning, and also commit to an additional two units of “workforce” housing. This is the first rental building to be built in Garden City in decades. Southern Land currently expects to start construction by early 2020 and take two years. It is expected to generate 416 construction industry jobs.
The IDA also approved a tax agreement for a Florida-based developer to expand an existing Great Neck rental apartment complex.
North Shore Millbrook LLC, an affiliate of West Palm Beach-based Garmertz LLC, will partially demolish and expand a 1950s era apartment complex at 240-250 Middle Neck Rd. that currently consists of 119 apartments. Plans call for the demolition of a 34-unit building and portions of two others and the construction of three new buildings that will enlarge the complex to 185 units, of which 75 will be rent stabilized.
The project will include underground parking facilities, upgraded building facades, new roofs and windows, and improved landscaping as well as a fitness center, recreational area, a pool and upgrades to HVAC systems. Village of Great Neck trustees approved the project last year.