Governor awards grants, tax breaks for affordable housing

The Alegria South development in Bellport was awarded a $4.5 million grant from the state’s Long Island Investment Fund and a $13.2 tax break. The Carriage House project in Patchogue was awarded an $8 million grant from the fund.

Both locations are within the 3rd New York State Senate District.

“I think the fact that two of the five recent grant awardees are located in the 3rd  NYS Senate District shows our true commitment toward helping to address the very real housing crisis that exists. When completed, The Alegria South development in Bellport and The Carriage House project in Patchogue will bring nearly 360 new housing units to Suffolk County, many of which will be available to those who need them the most,” said Sen. Dean Murray (R-3rd District).

Gov. Kathy Hochul awarded $26 million through the Long Island Investment Fund (LIIF) to further the state’s efforts to increase the housing supply.

The funding will support five transformative housing projects across Nassau and Suffolk counties, creating nearly 750 new housing units.

The projects, representing a total investment of $467 million, will help address Long Island’s housing shortage while providing affordable and workforce housing options for families, veterans, and individuals with disabilities.

“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,” Gov. Hochul said. “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.”

These awards are part of the $350 million Long Island Investment Fund, created to drive economic growth and address critical needs across Nassau and Suffolk counties. Administered by Empire State Development in partnership with the Long Island Regional Economic Development Council, the fund supports transformative projects that create jobs, strengthen communities, and drive regional growth, with a particular emphasis on housing development to address Long Island’s housing shortage.

Competitive grants ranging from $2 million to $20 million are awarded to projects that leverage private investment and demonstrate lasting community impact.

In addition, Hochul announced on Feb. 20 that more than $240 million in tax credits and subsidies were awarded to create and preserve 1,800 affordable, modern homes in 27 housing developments across New York.

The awarded projects include housing with supportive services, accessibility features, and incorporate sustainability measures to keep costs down for residents and help address climate change.

Developments provide homes for people of all ages and phases of life, strengthen communities, and further local economic development efforts. The funding is part of Gov. Hochul’s $25 billion five-year Housing Plan, which is on track to create or preserve 100,000 affordable homes statewide. The funding comes as part of the state’s five-year, $25 billion housing plan, according to the governor’s office.

The awards are provided through New York State Homes and Community Renewal’s annual Low-Income Housing Tax Credit competitive funding round, with $66 million from tax credits and $176 million in subsidy loans.

“The housing crisis won’t solve itself,” Hochul said in a statement. “If we want New York to remain a place people can afford to call home, we have to act with urgency… expanding affordable homes for people of all ages.”

Sen. Charles Schumer said, “Every family in New York deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help preserve or build 1,800 homes in every corner of the Empire State. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Gov. Hochul’s work increasing access to housing for working families in New York, and I will continue working to deliver federal resources to develop more affordable housing.”