Final Approval For Valley Stream Project; 2 Other Proposals Move Ahead

VALLEY STREAM, NY — The Town of Hempstead Industrial Development Agency (IDA) has announced the preliminary approval for projects in Floral Park and Woodmere, while final approval was given to a package of economic incentives for a project in Valley Stream.

Hewlett-based real estate developer Friedman Group LLC is proposing $10.9 million to demolish an existing 3,668-square-foot building called Centennial Hall and build a 24-unit apartment complex. The building at 29 Tulip Ave. would contain 12 two-bedroom apartments and is near the Floral Park LIRR station.

In Woodmere, a $10.5 million transit-oriented project would include 16 market-rate apartments on three residential lots at 37 Conklin Ave.

Both projects are subject to further review by the IDA and public hearings.

The IDA granted final approval for incentives to West Jamaica Holdings LLC, which has proposed a $30.57 million, 63-unit apartment project known as The Wellington in Valley Stream. The site, at 54 and 58 W. Jamaica Ave., formerly housed a funeral home and a vacant single-family house and is located just one block from the Valley Stream Long Island Rail Road.

"Our town is in dire need of quality rental housing and these projects, while not large, will contribute to the availability of rental housing for those who cannot afford to buy homes in the town," Frederick Parola, CEO of the IDA said. "Our housing shortage is forcing residents to move away from Long Island."