11/16/2023 | Press release | Distributed by Public on 11/16/2023 12:50
Energy-Efficient Development Brings Affordable Homes to Long Island's North Shore, Complements Glen Cove Waterfront Revitalization
Governor Kathy Hochul today announced completion of The Green at Garvies Point, a newly-constructed workforce housing development offering 55 affordable apartments in Glen Cove on Long Island's North Shore. The development is part of the city of Glen Cove's revitalization effort that is transforming its waterfront into a vibrant, new, mixed-use area.
"Through this development, we're creating more affordable, safe housing for New Yorkers on Long Island," Governor Hochul said. "The completion of The Green at Garvies Point not only ensures that dozens of New Yorkers will have a modern, energy-efficient place to call home, but it supports the transformation of Glen Cove's underutilized waterfront, bringing much-needed workforce housing to Nassau County."
In the last five years, New York State Homes and Community Renewal has created or preserved 1,200 affordable homes on Long Island. The Green at Garvies Point continues this effort and complements Governor Hochul's $25 billion comprehensive Housing Plan to create or preserve 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.
The Green at Garvies Point was developed by Georgica Green Ventures, LLC and consists of two newly-constructed four-story buildings containing a total of four studio apartments, 16 one-bedroom apartments, 29 two-bedroom and six three-bedroom units. All apartments are affordable to households earning a range of incomes up to 100 percent of the Area Median Income.
The complex was designed and constructed to be energy-efficient and meets the criteria for Enterprise Green Communities and US Green Building Council LEED Silver Certification. Residential amenities include a gymnasium, a children's playroom, communal spaces, bike storage, laundry facilities, and on-site parking.
The completion of The Green at Garvies Point contributes to the city of Glen Cove's effort to revitalize its underutilized waterfront through the creation of new housing, retail, and recreational space, while remaining consistent with the historic character of the waterfront neighborhood. The area surrounding The Green includes an amphitheater, restaurants, and recreation space that were built as part of the wider revitalization effort.
State financing for the $32 million development includes $13.4 million in federal low-income housing tax credits and $7.7 million in subsidy from HCR. Nassau County provided $900,000 in HOME funds. Additional financing was provided by Barings.
Homes and Community Renewal Commissioner RuthAnne Visnauskas said,"The completion of The Green atGarvies Point is exciting not just for the 55 individuals and families who will call this new development home, but for everyone who will benefit from the continued transformation of Glen Cove's waterfront. By creating new, affordable homes on Long Island's North Shore, we are increasing housing supply and promoting the type of inclusive, healthy communities that sustain thriving local economies for years to come. Thank you to our partners at Georgica Green Ventures, Barings, and Nassau County for their years of commitment to this community changing development."
Georgica Green President David Gallo said, "We're excited to provide this beautiful affordable housing to the community of Glen Cove, and to be part of the incredible rebirth of Garvies Point. We are proud to partner with New York State Homes and Community Renewal, City of Glen Cove and RXR on The Green at Garvies Point."
Assemblymember Charles Lavine said, "I applaud Governor Hochul and her team's efforts in identifying and creating affordable housing options for growing families in the State of New York and the City of Glen Cove. We all know how scarce housing is and I am proud to work alongside an administration that understands and prioritizes sorely needed residential opportunities to my constituents."
Nassau County Legislator Delia DeRiggi-Whitton said, "As a mother of three young adult daughters, the question I keep hearing is: 'What are we doing to doing to create more housing options for young people?' I am proud to say that this project in Glen Cove is a perfect example of how we can go about addressing this crucial regional issue. I am hopeful that it can serve as a blueprint for future efforts to diversify and expand local housing options."
City of Glen Cove Mayor Pamela Panzenbeck said, "I am pleased to announce that today is the ribbon cutting for the Georgica Green Ventures housing complex which consists of 55 workforce units. Tenants will have amenities that include laundry rooms, children's playroom, gymnasium, community room, and on-site parking. They will also be able to enjoy public areas with waterfront access a few steps from their front door."
City of Glen Cove Senior City Councilmember Marsha Silverman said, "Thank you Governor Hochul and Commissioner Visnauskas, for providing state financing for the $32 million development here in our city. These efforts will help address the outward migration crisis we face with our seniors and young adults here on Long Island. This project is an illustration of state and local government partnering with the private sector to facilitate critically needed affordable housing."