Residents Attend Lottery for Chance to Live in Melville Affordable Housing

Several prospective purchasers were in attendance at a lottery drawing for new Melville co-op that looks to bring affordable housing to Long Island.

The drawing, held Tuesday at a conference room at Huntington Town Hall, had 75 prospective purchasers in attendance. The lottery was narrowed down to 171 applicants who will be contacted to continue the qualification process for the townhouse units at Highland Green, located on Ruland Road in Melville.

The 117-unit co-op will consist of 72 one-bedroom units, 39 two-bedroom units and six three-bedroom units. To qualify to enter the lottery to get a chance to live in these units, residents’ incomes must not exceed a certain percentage of the area's median income.

A certain number of units are available for residents with the following annual incomes:

• 93 units available for individuals with a $45,780 annual income or a $65,400 annual income for a family of four. These incomes do not exceed 60 percent of the area's median income.
• 24 units available for individuals with a $55,800 annual income or a $79,650 annual income for a family of four. These incomes do not exceed 80 percent of the area's median income.

Ten percent of the units will accommodate veterans, 10 percent will be for handicapped persons and four percent will be for the hearing or visually impaired.

Qualified income eligible residents will be able to earn equity while making rental-level monthly payments through these limited equity cooperatives, the Town says.

In this co-op, purchasers will pay two month's maintenance as a down-payment. No mortgage or other type of financing is required. The down payment for the one-bedroom units is estimated to be between $2,212 and $3,000 and the monthly maintenance charges would be between $1,106 and $1,500.

The lottery was conducted by D&F Development Group along with the Long Island Housing Partnership and the Huntington Community Development Agency.

Anyone with questions can call the developer at 516-437-0900 or the Long Island Housing Partnership at 631-435-4710.

Image via TOH