The Long Island Housing Partnership is now accepting lottery applications for 18 workforce-priced apartments at a new rental complex in Westbury.
The workforce component of the 72-unit Cornerstone Westbury on Railroad Avenue is being offered in concert with developer Terwilliger & Bartone Properties and the Village of Westbury.
There are eight studio apartments, nine one-bedroom units and one two-bedroom unit being offered at reduced rents for households earning up to 80 percent of the area median income. The monthly rents are $2,021 for the studios, $2,152 for the one-bedroom apartments and $2,567 for the two-bedroom.
Priority for the affordable units will be provided to veterans who were honorably discharged, according to LIHP.
“An important component of our transit-oriented zoning, implemented several years ago, was to require the inclusion of affordable units, and the incentivizing of a larger percentage of affordable units and/or the inclusion of a program to benefit eligible veterans,” Westbury Mayor Peter Cavallaro said in a Facebook post.
Pre-leasing for the market-rate apartments at Cornerstone Westbury is slated to begin at the end of July and monthly rents start at about $2,300 for studios. The complex will be ready for occupancy in October.
The second phase of Cornerstone Westbury, located just down the block on Railroad Avenue, will add another 58 rental apartments. Phase two is slated to open in March 2024.
The Cornerstone is the first of several projects that are being developed as a result of Westbury’s Dec. 2019 rezoning of about 50 acres around the Westbury Long Island Rail Road station. The new transit-oriented zoning is one of seven projects that were largely funded by the $10 million Downtown Revitalization Initiative grant Westbury received from the state in 2016.
=
Image and article originally from libn.com. Read the original article here.