A new affordable housing project is underway on County Road 48 in Greenport.
Vineyard View will be composed of seven two-story residential buildings, slated on a 17-acre parcel. The development calls for setting aside 10 acres as open space, including wetlands.
There will be 50 apartments in the seven buildings. Fourteen of them will be one-bedroom units ranging in size from 686 to 707 square feet, priced at $909 to $1017 per month; 22 two-bedroom apartments ranging in size from 850 to 884 square feet, with rents ranging from $1094 to $1344 per month; and 14 three-bedroom unit ranging in size from 1101 to 1211 square feet with monthly rents between $1264 and $1552. There will be an additional 2649-square-foot dedicated community space, which will include a gym and playground.
Half of the units will remain affordable in perpetuity, thanks to federal guarantees.
Those earning up to 50 percent of the Suffolk County area median income will be eligible for 25 of the apartments, with a maximum income for a one-person household set at $40,850; a two-person household $46,700; a three-person household $52,500; a four-person household $58,350; and five-person household $63,000.
The other 25 apartments will be set aside for those making 60 percent of the Suffolk County area median income. Maximum income for a single person would be $49,020; for two people that would rise to $56,040, and for three people $63,000. A four-person household could have an income of $70,202, and a five-person household $75,600.
The project is being sponsored by the Community Development Corporation of Long Island and its development partner Conifer Realty. The partnership recently collaborated on Peconic Crossing Development, another affordable housing project in Riverhead, which welcomed its first tenants in August 2018.
“Both entities are committed to addressing the housing crisis on the island,” said Gwen O’Shea, the president and CEO of CDCLI. “There’s a desire from the community and the leadership and stakeholders to see that type of development come to fruition. Fortunately, a lot of the community drives a lot of that.”
Clearing has begun on the site with an official groundbreaking to be scheduled in June. The estimated time of completion is early fall 2020.
Vineyard View is expected to cost nearly $22 million. Suffolk County will contribute $700,000, according to a press release from the office of County Executive Steve Bellone, with additional funding from the Town of Southold, New York State Homes and Community Renewal, the Community Development Trust LP of Conifer Realty LLC, and CDCLI.
“It’s a big step in the right direction. Our involvement is with the sewer, which gives them the density that they need,” said Greenport Village George Hubbard referring to a sewer line that runs down the North Road past the development. “It’ll boost those who live locally, rather than traveling to and from out west. Hopefully we can see another couple hundred units built in the town to try and alleviate some of the housing crisis.”
Applications are not yet being taken for the apartments, but to receive information when it becomes available, visit www.coniferllc.com/properties/vineyard-view.