Governor Hochul Announces More Than $32 Million in Long Island Investment Fund Awards to Support New Housing Across Nassau and Suffolk Counties

What this means

A summary is not yet available. Publication is pending editorial review. Read the full original publication below.

Official release

Source material from New York Empire State Development. The wording below is the issuer’s statement.

Six Major Housing Developments Will Create Nearly 900 New Housing Units, Including 482 Affordable Units, Across Long Island

Projects Represent More Than $529 Million in Total Investment To Deliver Affordable, Supportive and Transit-Oriented Housing

Governor Kathy Hochul today announced more than $32 million in awards through the Long Island Investment Fund (LIIF) to further the state’s efforts to increase the housing supply. The funding will support six transformative housing projects across Nassau and Suffolk counties, creating 899 new housing units including 482 affordable units. The projects, representing more than $529 million in total investment, will help address Long Island’s housing shortage while expanding affordable, supportive and homeownership opportunities and creating new housing near transit and downtown centers.

“Every New Yorker deserves access to a safe, affordable place to call home, and my administration is committed to building more housing in communities across Long Island,” Governor Hochul said. “Through the Long Island Investment Fund, we are supporting projects that will create hundreds of new housing units and give more families and New Yorkers the opportunity to build their futures on Long Island.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul’s leadership, the Long Island Investment Fund is helping unlock the private investment needed to address one of the region’s most pressing challenges. These awards will turn underutilized properties into productive developments, support critical infrastructure and bring hundreds of millions of dollars in new investment to communities across Nassau and Suffolk counties.”

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "New York is leading the way on increasing our housing supply and improving affordability - and nowhere is this more apparent than on Long Island. With 900 new homes, including nearly 500 affordable homes, these six developments will increase housing availability and expand homeownership opportunities while also supporting local economies. We are grateful to Empire State Development and our project partners for their dedication to Governor Hochul's housing agenda."

Empire State Development Board Chairman Kevin Law said, “A strong Long Island economy depends on making it possible for people at every stage of life to put down roots here. These developments will expand the range of housing options available to Long Islanders while helping our downtowns grow, supporting our workforce and ensuring the region remains a place where businesses and families can thrive.”

Read the full press release here.

Release text attributed to New York Empire State Development. Consult the official publication for any subsequent corrections or updates.