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Deals & Dealmakers

Nassau IDA backs incentives plan for affordable housing development

Rendering of the proposed affordable housing development.

Nassau County Industrial Development Agency (IDA) chairman Richard Kessel announced that the agency has given preliminary approval to a package of economic incentives for an affordable housing complex proposed in the Village of Farmingdale.

The IDA board on November 21st gave preliminary approval to the incentives for Sterling Green at Farmingdale, LLC and D & F Development Group, LLC, of Levittown, which plans to construct a 61-unit affordable, workforce housing development on a 1.99-acre site at 860-906 Fulton Street in Farmingdale.

The $31,693,000 project will create 200 construction jobs.

“Workforce housing in the heart of the Farmingdale downtown district is a win-win transit-oriented development project,” said Nassau County Executive Curran. 

“I commend the Mayor, village board and all involved in this exciting project. This is just what Nassau County needs more of.”

“The IDA’s assistance helps developers, such as D & F Development Group to construct projects that are affordable to our residents, particularly our young people,” said Kessel.

The incentives package is subject to review by the IDA staff, a public hearing in the coming weeks and a final authorizing resolution by the IDA Board of Directors.

The Village of Farmingdale in October approved a new zoning designation for several lots on Fulton Street for workforce housing outside of its downtown.

D & F Development is best-known as a developer of affordable and senior housing.

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