New Senior Apartment Complex To Be Constructed In Farmingdale

FARMINGDALE, NY - The Nassau County Industrial Development Agency (IDA) recently approved an economic compact that will assist a developer in building an apartment complex in Farmingdale for persons 55 years of age or older.

“This project will further the redevelopment efforts of the Village of Farmingdale as its works with its master plan to revive its downtown and will create new, much-needed housing options for seniors,” County Executive Edward Mangano.

The compact, approved by the IDA at its Aug. 16 meeting, will assist Ronkonkoma-based Carlyle Building LLC in constructing a 50,497-square foot, 3-1⁄2-story apartment building on vacant land at 776-780 Fulton Street.

The $7.9 million project would have 24 units, three one-bedroom apartments and 21 two-bedroom apartments.

Designated as a “Housing for Older Persons” project in accordance with the Fair Housing Act, the development will only be occupied by persons 55 years of age or older.

In addition, three of the units will be affordable – one unit will be for a household with an income not to exceed 50 percent of area median income; and two units will be for households with incomes not exceeding 80 percent of area median income. The Long Island Housing Partnership will assist in marketing and leasing the affordable units.The project will create 50 construction industry jobs and 2 permanent full-time-equivalent positions and inject more than $16 million into the Nassau County economy and more than $1 million in new tax revenue. Other residential projects in the village’s downtown that have received IDA economic compacts in recent years, include the 42-unit Cornerstone at Farmingdale and the 154-unit complex called Farmingdale Plaza. Get free real-time news alerts from the Farmingdale Patch.Thanks for your feedback! Now share it with your friends!Thanks for your feedback. Originally published August 17, 2017. More from Farmingdale Patch

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