More than $26 million from the Long Island Investment Fund (LIIF) will be used to support five housing projects in Nassau and Suffolk counties, according to an announcement by Governor Kathy Hochul. The funding aims to create nearly 750 new housing units as part of efforts to address the region’s housing shortage and provide affordable options for families, veterans, and people with disabilities.
Governor Hochul stated, “By investing in these five significant projects, we are building the homes Long Island families need and deserve — affordable, accessible and close to jobs and transit. My administration is committed to ensuring every New Yorker has a safe, affordable place to live, and the Long Island Investment Fund is helping us deliver on that promise.”
The total investment for these projects amounts to $467 million. Empire State Development President, CEO and Commissioner Hope Knight said, “These investments are more than housing — they’re catalysts for economic growth. By creating homes for Long Island’s diverse workforce across Nassau and Suffolk counties, we’re fueling local businesses, strengthening downtowns, and building vibrant, walkable neighborhoods that support community connections.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas commented on the impact of the awards: “Under Governor Hochul’s leadership, these Long Island Investment Fund awards are a game-changer for addressing our State’s housing crisis. By supporting nearly 750 new homes across Nassau and Suffolk counties, including affordable and workforce housing, we’re creating opportunities for families, veterans, and individuals with disabilities to thrive in vibrant, transit-oriented communities. These projects are a critical step toward building a more equitable and accessible Long Island.”
Empire State Development Board Chairman Kevin Law highlighted the significance of targeted investments: “The Long Island Investment Fund is proving to be a powerful tool for addressing our region’s most pressing challenges. These housing developments represent exactly the kind of smart, targeted investments that will help ensure Long Island remains a place where the next generation can afford to live and work. By supporting both workforce and affordable housing, we’re building stronger, more inclusive communities.”
LIREDC Co-Chairs Linda Armyn (President & CEO at FourLeaf Federal Credit Union) and Dr. Kimberly R. Cline (President of Long Island University) emphasized regional collaboration: “These projects reflect Long Island’s shared commitment to housing that works for everyone—working families, seniors, veterans, and people with disabilities. By investing in transit-oriented and community-focused development, we are laying the groundwork for inclusive, sustainable growth across the region.”
The LIIF is part of a larger $350 million fund designed to promote economic growth in Nassau and Suffolk Counties by supporting transformative projects that generate jobs and strengthen communities. Grants from $2 million up to $20 million are awarded competitively based on private investment leverage and long-term community benefits.
Among the funded projects:
– The Preserve at South Country Road in Southampton will receive $4 million towards developing 79 workforce housing units tailored partly for veterans and individuals with disabilities.
– The Grand at Baldwin secures $6 million for a $121 million project near mass transit that will offer 215 rental apartments.
– Alegria South in Bellport receives $4.5 million for constructing 96 fully affordable units serving vulnerable populations.
– The Carriage House in Patchogue obtains $8 million as part of its mixed-use development delivering 262 units along with infrastructure improvements.
– One Carleton Green in Central Islip is awarded $3.8 million toward replacing underused parcels with 96 affordable units.
Governor Hochul’s broader strategy includes initiatives from recent state budgets such as tax incentives for developers; over $1.5 billion allocated this year specifically for new programs like Housing Access Vouchers; policies aimed at affordability; as well as ongoing efforts under her five-year plan targeting creation or preservation of 100,000 affordable homes statewide—including thousands with support services.
To date more than 65,000 homes have been created or preserved through these combined efforts. Recent budgets also enhanced access to discretionary state funding via Pro-Housing Community Program certification—now granted to over 350 municipalities—to further encourage local participation in expanding New York’s housing supply.
