Town Announces Plan to Bring Life Back to Empty Garden City Office Building

The Town of Hempstead Industrial Development Agency has approved a plan that will turn a vacant Garden City office building into a haven for startup companies.

The IDA has approved a package of economic benefits that will allow the Queens-based devloper, International Society of Business Leaders, based in Long Island City and operating as 1051 Franklin Avenue LLC, to spend $1.5 million to turn part of the 19,000-square-foot, three-story building at 1051 Franklin Ave. into a small business incubator.

ISOBL plans to the occupy the complete third floor and is considering expanding into the first and second floor in the future, but currently plans to use the space as an incubator for fledgling companies. The developer anticipates as many as 55 people will be employed by businesses operating in the building within two years.

“This project will bring genuine economic benefits to the Town of Hempstead and enhanced vitality to the already vibrant Garden City business community,” said Town Supervisor Anthony Santino.

The economic benefits package, approved by the IDA board at its August 24th meeting, includes property tax abatements and relief from the mortgage recording tax and sales tax on materials used for the renovation.

The Town of Hempstead Industrial Development Agency is a public benefit agency with the power to help qualified businesses relocate, expand and build in the Town of Hempstead.

Photo: Town of Hempstead.