$33.75M affordable housing project closes on IDA incentives | Long Island Business News

Developers of a workforce apartment project in East Patchogue have closed on a package of economic incentives from the Town of Brookhaven Industrial Development Agency. 

GGV Grove Apartments LLC, a development group headed by Jericho-based Georgica Green Ventures, is planning to build a $33.75 million three-building rental complex on a 2.78-acre site at 400 E. Main St. 

The development, called The Grove, will be located on the southeast corner of East Main Street and Grove Avenue. It will bring 55 apartments, which will be a mix of 21 one-bedroom units, 28 two-bedroom units and six three-bedroom units. The apartments will be available to renters of households earning 50 percent to 90 percent of the area’s average median income, according to an IDA statement. 

Monthly rents at the East Patchogue development will range from $1,227 to $2,994, depending on tenant’s income. 

Seventeen of the apartments will be set aside for domestic violence victims who will be screened by the Levittown-based social services provider New Ground, which also will provide on-site services. 

The project is jointly owned by Georgica Green Ventures, Hauppauge-based Kulka LLC, and Raymond James Affordable Housing Investments, a St. Petersburg, Fla.-based tax-credit investor. It is designed by Melville-based Beatty Harvey Coco Architects. 

Located within the town’s East Patchogue Incentive Overlay District, which was enacted in 2020 to assist in revitalizing the Montauk Highway corridor, the project will also include a 1,000-square-foot ground-floor space to be leased to a local nonprofit or small business, according to its IDA application. 

The development will create 150 construction jobs and seven permanent positions. Construction is expected to take 18 months. 

“These apartments, which will not only replace a blighted site, are in an area of Brookhaven Town that has significant unmet demand for housing for a severely cost-burdened renter population,” Brookhaven IDA Chairman Frederick Braun said in the statement. 

The East Patchogue property, once the home of a True Value hardware store that was demolished 12 years ago, was going to the site of a three-story, mixed-use development from Hauppauge-based Northwind Group. In 2018, the developer had planned to bring 80 apartments over retail space to the site, but the project never came to fruition.