Farmingdale, NY - November 20, 2013 - Nassau County Executive Edward P. Mangano today announced the start of construction for a new 154-unit housing and retail project in downtown Farmingdale near the Long Island Rail Road station. The project, Jefferson Plaza, was made possible in part by the Nassau County Industrial Development Agency (IDA), which approved an economic development compact for this $38 million project which includes affordable workforce housing. Jefferson Plaza is one of five residential developments assisted by the Mangano administration. Other projects include Plaza Landmark in Great Neck Plaza (93 units – now open), Mill Creek Residential in Mineola (311 units – under construction), Mineola Properties in Mineola (315 units – under construction) and MPA Owners in Westbury (6 units – under construction). Recently, County Executive Mangano earmarked Federal funds to study the conversion of empty office space into residences in Baldwin, Lynbrook and Valley Stream.
“My administration has made it a priority to assist families, seniors, and young adults with new housing options,” said County Executive Mangano. “Since taking office, my administration is helping create nearly 1,000 new housing opportunities across Nassau County. This project, close to the downtown shops and restaurants in Farmingdale, brings much-needed rental options for our residents while generating millions in economic benefit for our local economy, and is another example of our commitment to creating transit-oriented development.”
Texas-based TDI Real Estate Holdings LLC, a national developer of multi-family housing, and Farmingdale developer Bartone Properties LLC are partnering to develop the project. The $38 million project, which will take two years to complete, is expected to generate $57.5 million in economic benefits to the county and result in the creation of 113 full-time equivalent construction jobs and as many as 14 permanent jobs.
Joseph J. Kearney, Executive Director of the IDA, added, “Without the assistance of County Executive Mangano, this project would not have moved forward and the site would have remained an eyesore in its current blighted state.”
Kevin S. Law, President & CEO of the Long Island Association, added, “I commend County Executive Mangano for his efforts to revitalize downtown Farmingdale and create transit-oriented development that will boost housing opportunities for families and young professionals while encouraging economic growth. We need more rental homes on Long Island and thus the LIA thanks the County Executive for his efforts to address this challenge confronting our region.”