New Hope For Affordable Housing On East End

EAST END, NY — The dearth of affordable housing on the East End has long been identified as one of the most dire issues facing residents, lawmakers and businesses alike.

But now, said Suffolk County Executive Steve Bellone, much-needed help — and hope — are on the horizon.

Recently, New York State Homes and Community Renewal and Bellone toured the East End and provided an update on two affordable housing developments, Speonk Commons and Riverview Lofts, to "showcase the progress on transit-oriented development and downtown revitalization on the East End," a release said.

Representatives from Homes and Community Renewal and Bellone joined Suffolk County Legislator Bridget Fleming, along with Riverhead Town Supervisor Laura Jens-Smith, to tour the construction sites of Speonk Commons, a 38-unit multi-family apartment development that adjoins the Speonk Long Island Rail Road station and Riverview Lofts, a 116 unit mixed-use development overlooking the Peconic River that will include over 100 affordable units and commercial space.

“Our downtowns are the heart of Suffolk County and we continue working to connect them with our mass transit systems, along with our major research and educational institutions,” said Bellone. “By investing in affordable housing projects such as Speonk Commons and Riverview Lofts, we are ensuring more of our hardworking residents will have access to a home in one of these vibrant, robust downtowns.”

HCR has invested state and federal low income housing tax credits in Speonk Commons that will generate more than $16.4 million in equity, as well as $3,146,676 from the housing trust fund, the release said.

Also, HCR financing for Riverview Lofts includes $11 million in tax-exempt bonds, state and federal low income housing tax credits that will generate more than $17.3 million in equity, and $15.75 million in subsidy; New York State Governor Andrew Cuomo’s Office of Storm Recovery provided $6.5 million in federal Community Development Block Grant Disaster Recovery fund, the release said.

Suffolk County has contributed more than $4 million to create the two affordable housing developments that were spotlighted recently. In addition, the county awarded more than $800,000 toward beautification and revitalization efforts Riverhead, Bellone said.

The developments are part of New York State’s efforts to "provide all New Yorkers with access to safe, affordable housing through the state’s unprecedented $20 billion, five-year housing plan," the release said.

The plan makes housing accessible and combats homelessness by building or preserving more than 100,000 affordable homes and 6,000 with supportive services. The plan is a comprehensive approach to statewide housing issues and includes multifamily and single-family housing and community development, Bellone added.

Speonk Commons will consist of six two-story buildings with 38 affordable apartments, 4,357 square feet of commercial space and 3,022 square feet of community space. The development will include five units reserved for residents earning up to 50% of area median income, 28 units will be available to residents earning up to 60% AMI and four units will be available to residents earning up to 90% AMI. Georgica Green Ventures, LLC and the Town of Southampton Housing Authority are co-developers.

According to Southampton Town's website, all affordable housing programs qualify recipients based on their income. "Since different parts of the country have varying living costs and income levels, the U.S. department of Housing and Urban Development, or HUD, determines an Area Median Income, or AMI, for each housing market throughout the country. For example, the area median income in Nassau/Suffolk area for a family of four in 2017 is $110,800 while the median income in Greenville, North Carolina is $57,000. HUD takes into account the high cost of living on Long Island. In the Town of Southampton because of the high cost of living and high property values, even a family making over $100,000 finds it impossible to afford a market rate home. To qualify for assistance, family size is taken into account because of higher costs of providing for a larger family," the town site said.

At a past hearing, Southampton Town Supervisor Jay Schneiderman asked about rents. Georgica Green Ventures, LLC President and Founder David Gallo said studios would range from $930 to $1434; one-bedrooms from $1,000 to $1,500, and two bedrooms from $1,195 to $1,1750.

The income range would run from $37,000 to $86,000, with $86,000 the income for a family of four, restricted to 90 percent of the area median income.

The goal, Gallo said, is to provide housing for the area's teachers, nurses, firefighters, Town Hall and hospital employees, and other young professionals who cannot afford to live in Southampton Town. All would be carefully vetted, with six months of banking information, pay stubs, personal references and other criteria required, Gallo said.

The residential mix would be similar to the Sandy Hollow project in Tuckahoe, a project also spearheaded by Georgica Green, Gallo said.

Riverview Lofts will be a five story mixed-use development that will consist of 116 affordable units and 12,000 square feet of commercial space. Eighty-seven units will be available to residents earning up to 60% area median income, 13 units available to residents earning up to 90% AMI, and 15 units available to residents earning up to 130% AMI. Georgica Green Ventures, LLC is the developer.

Rents will range from $976 for the 25 studios apartment, $1,210 for the 44 one-bedroom units, and $1,452 for the 18 two-bedroom units, for those earning up to 60% of the AMI, according to a post in the Riverhead News Review.

For those earning 90% of the AMI, rents will range from $1,125 to $1,655, and for those earning 130% of the AMI, rents will go from $1,326 to $1,955.

Both projects complement Bellone’s Connect Long Island Initiative, a regional transportation and development plan that promotes long-term economic growth in Suffolk County through a model of increased access and mobility by alternative modes of transportation. The plan supports investments in regional mass transit systems, such as the Long Island Rail Road, the implementation of new transit modes, the creation of transit-oriented developments and the connection of these transit-oriented developments and downtown areas to major research and educational institutions, the release said.

“Affordable homes that combine commercial space and offer easy access to public transportation, retail, and all the conveniences of downtowns is essential to supporting diverse, vibrant Long Island communities,” said HCR Commissioner RuthAnne Visnauskas. “Speonk Commons and Riverview Lofts are shining examples of New York’s commitment to affordable housing that plays an integral role in helping families and neighborhoods thrive.”

Fleming has long been a strong advocate for affordable housing.

“The high cost of housing and property taxes have put Long Island in danger of losing its young working-age population, key to a vibrant economy and growing our communities," she said. "At the same time, we are a coastal community with a special obligation to reduce carbon emissions by getting out of our cars and into walkable downtowns near jobs, shopping and medical centers, and public transportation."

Fleming said she is proud that Suffolk County’s Affordable Housing Opportunities Program and other infrastructure projects, including the Riverside traffic roundabout,, assist local governments and private developers in meeting challenges. "We have a long way to go but our goals are clear. And these important projects show government listening and responding to the needs of the community. I’m proud to be part of it," she said.

Jens-Smith also spoke on the issue: “Riverhead knows the importance housing plays in revitalizing downtowns. When new development can be close to major hubs of transportation, like our train station and bus routes, this only enhances the quality of life for our residents living downtown. Suffolk County has shown its commitment to those efforts by awarding Riverhead over $800,000 in funds towards our downtown revitalization," she said.

Gallo was also onhand. “Georgica Green Ventures, LLC is dedicated to providing quality affordable housing on the East End. Speonk Commons and Riverview Lofts are the result of collaborative partnerships with Suffolk County, the Town of Southampton, and the Town of Riverhead and the local communities," he said, thanking Bellone, Legislators Fleming and Al Krupski, NYS Homes and Community Renewal, the Town of Southampton and Supervisor Jay Schneiderman, the Town of Riverhead and Supervisor Jens-Smith, the Office of the Attorney General, and other funding partners.