The Suffolk County Legislature recently approved the purchase of two properties slated for affordable housing in Southampton Town, accelerating the timeline of both projects.
The two parcels—one in Tuckahoe that will be the site of a 28-unit affordable housing complex, Sandy Hollow Cove Apartments, and one in Speonk that will be the site of a 38-unit affordable housing complex, Speonk Commons—were purchased by the county for $2.15 million on Tuesday, July 25.
A press release from the office of Suffolk County Legislator Bridget Fleming—who has pushed for Sandy Hollow’s completion since she was a member of the Southampton Town Board—noted that with the county’s purchase of both properties, both projects can be finished within the next 16 to 18 months.
“The East End has a critical need for affordable housing to maintain both our economy and our local community,” Ms. Fleming is quoted as saying in the release. “The sites, which are in transit-oriented locations, further the goal of reducing traffic and supporting the workforce that drives our tourist economy. In light of our community’s desperate need for affordable housing, the hard work by the town, the county, and the developers on these two projects has created a framework that I hope will encourage similar projects in the future.”
Applicants Georgica Green Ventures, a for-profit Jericho-based company that builds affordable housing, and the Southampton Town Housing Authority received final approvals for Sandy Hollow and Speonk Commons earlier this year. When completed, they will be the first affordable rental housing projects in the town.
According to documents on the Suffolk County Affordable Housing Opportunities Program purchase, the county acquired the 2.6-acre Sandy Hollow property for $850,000 and the 4.28-acre Speonk Commons property for $1.3 million.
In addition to the $2.15 million from Suffolk County, the two projects were awarded a New York State Homes and Community Renewal award of up to $30 million in tax credits—the largest award in the funding round, and the only award on Long Island, said Southampton Housing Authority Executive Director Curtis Highsmith. The tax credits will help fund the construction of the two affordable developments.
The Sandy Hollow project, projected to cost $11 million, will include three two-story buildings and 28 rental units, including 14 studios, and 12 one-bedroom and two two-bedroom apartments, available to residents earning between 50 percent and 90 percent of the average median income for the area.
The Speonk project, estimated to cost $15.8 million, will consist of six two-story buildings and 38 rental units, including 12 studios and 14 one-bedroom and 12 two-bedroom apartments, available to residents earning between 50 percent and 90 percent of the average median income for the area, as well as one manager’s apartment. One building will have a community room and laundry facility on the ground floor.