Daily Newsletter

20 November 2023

Daily Newsletter

20 November 2023

Work finalises on housing project in New York

The development is adherent to LEED Silver certification standards.

vishnupriya November 17 2023

New York governor Kathy Hochul has announced the successful delivery of a new affordable housing development in Glen Cove on Long Island’s North Shore, US.

Named The Green at Garvies Point, the newly constructed development will bring 55 workforce housing units to Nassau County.

Georgica Green Ventures has developed The Green at Garvies Point, which comprises four studio apartment units, 16 one-bedroom apartments, 29 two-bedroom apartments, and six three-bedroom units across two four-storey buildings.

Residential amenities comprise a gym, a children’s playroom, social areas, bike storage, laundry services, and on-site parking.

All units are affordable to households earning up to 100% of the area median income (AMI).

The project is part of Glen Cove’s rehabilitation programme, which seeks to convert the city’s waterfront into a modern, mixed-use district.

The Green at Garvies Point is designed and built to be energy efficient, and it adheres to the Enterprise Green Communities and US Green Building Council Leadership in Energy and Environment Design (LEED) Silver certification standards.

Hochul said: “Through this development, we’re creating more affordable, safe housing for New Yorkers on Long Island.

“The completion of The Green at Garvies Point not only ensures that dozens of New Yorkers will have a modern, energy-efficient place to call home, but it supports the transformation of Glen Cove’s underutilised waterfront, bringing much-needed workforce housing to Nassau County.”

The development supports Hochul’s $25bn comprehensive Housing Plan to build or maintain 100,000 affordable homes across New York. This includes 10,000 support services for those in need and electrifying an additional 50,000 homes.

The $32m development received state financing, which includes $13.4m in federal low-income housing tax credits and $7.7m in Homes and Community Renewal subsidies.

South-East Asia Construction Market Dynamics

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