Friedman Group LLC, a Hewlett-based real estate developer, has received preliminary approval for economic incentives from the Town of Hempstead Industrial Development Agency for two apartment projects.
Friedman is proposing a $10.9 million transit-oriented project to develop a 30,512-square-foot, 24-unit apartment building on the site of Centennial Hall in Floral Park. An affiliate of Friedman Group purchased the existing building from the Village of Floral Park for $1.2 million at the end of 2019, according to public records.
The building, which has stood at the intersection of Carnation Avenue and Tulip Avenue since 1925, was originally constructed as a Masonic temple. Renamed Centennial Hall, the village bought it for $1.5 million in 2004 and it later housed the Floral Park Historical Society Museum.
The proposed project will bring 12 two-bedroom apartments and 12 one-bedroom apartments to the .48-acre site, located just up the block from the Floral Park Long Island Rail Road station.
Friedman is also proposing to build a $10.5 million transit-oriented project with 16 market rate apartments on three residential lots at 37 Conklin Ave. in Woodmere. The development will bring 12 two-bedroom apartments and four apartments with three bedrooms, according to an IDA statement.
Incentives for the Woodmere and Floral Park projects are subject to further review by the IDA and public hearings.
The Hempstead IDA also gave final approval for incentives to West Jamaica Holdings LLC, which has proposed a $30.57 million, 63-unit transit-oriented apartment project to be known as The Wellington in the Village of Valley Stream. The development site, at 54 and 58 W. Jamaica Ave., was formerly occupied by funeral home and a vacant single-family house and is located a block from the Valley Stream LIRR station.
“Our town is in dire need of quality rental housing and these projects, while not large, will contribute to the availability of rental housing for those who cannot afford to buy homes in the town,” Fred Parola, Hempstead IDA CEO said in the statement. “Our housing shortage is forcing residents to move away from Long Island.”
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