Affordable Housing Complex Coming to Glen Cove’s Garvies Point

garvies point
Senior Executive Vice President & Chief Operating Officer of Construction & Development .Joanne Minieri; RXR Chief Construction & Development Officer Todd Rechler; Nassau County Executive Laura Curran; Glen Cove Mayor Tim Tenke; Georgica Green Ventures President David Gallo; AICP RXR Realty Executive Vice President of Residential Construction & Development Joseph Graziose; New York State Home and Community Renewal & Vice President of Multifamily Finance Brett Hebner; Glen Cove CDA &; IDA Executive Director Ann Fangmann; Georgica Green Ventures LLC Vice President Matthew Ardito, Georgica Green Ventures LLC Senior Project Manager Allison Giosa; Nassau County Office of Community Development Director Kevin Crean.

Community leaders helped break ground on a new, $32.3 million affordable housing development at Garvies Point in Glen Cove this week.

The project will provide 55 energy efficient apartments to working families at reduced prices based on the area’s median income and be the first affordable workforce housing complex in Glen Cove in more than a decade. Amenities will include laundry rooms, bike storage, a children’s playroom, gymnasium, community room, and on-site parking.

“Residents will be able to enjoy acres of public amenities and waterfront access right in their backyard, within walking distance of the city’s vibrant downtown,” Glen Cove Mayor Tim Tenke said in a statement. “Units will remain affordable for decades to come, securing housing for all sectors at the Glen Cove waterfront.”

The project’s two four-story buildings will include nine units that will be adapted for individuals with disabilities. The developer, Georgica Green Ventures, LLC, will adapt six units for tenants with mobility impairments and three for residents with hearing or visual disabilities.

New York State’s Homes and Community Renewal initiative is funding the affordable housing development. An $8.4 million subsidy from Barings, an investment firm, and $900,000 in Nassau County HOME funds will also contribute to building and making the residential building affordable.

“An important component of building back our state better than it was before is ensuring that all working families have a safe, affordable place to call home,” Gov. Andrew Cuomo said in a statement. “This 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.”

The new development, which is being overseen by RXR Realty, is located at 100 and 200 Dickson St. in Glen Cove. Building A, on the northern portion of the site, will be 28,814 square feet with 24 dwelling units. Building B, to the south, will be 30,422 square feet with 31 dwelling units. The unit mix will consist of four studio, 16 one-bedroom, 29 two-bedroom, and six three-bedroom apartments.

Forty units will be available to residents earning up to 60 percent of the area median income (AMI), six units to residents earning up to 100 percent AMI, and eight units reserved for Section 8 Project Based Vouchers, with residents earning up to 30 percent AMI. The apartments will be open to anyone meeting the requirements and will be chosen by a lottery. The median income for a family of four on Long Island is $129,000. The average rental price for the complex is expected to be $1,600 per month.

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