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Suffolk County Apartments Financed by Affordable Housing Program

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The town of Riverhead, Suffolk County, New York was created in 1792, and rests on the mouth of the Peconic River, from which it derives its name. Riverhead is situated on the north shore of Long Island and home to three separate beaches which are open year round – Iron Pier, Wading River, and Reeves Beach making the real estate in Long Island a wise location in Riverhead.

Last month, Community Development Corporation of Long Island (CDCLI) and Conifer Realty, LLC, hosted a groundbreaking event for 45 mixed-income apartments to be constructed on Main Street in the downtown area in Riverhead to be named Peconic Crossing. Peconic Crossing is financed through the Affordable Housing Fund program to support the preservation or development of rental housing lost as a result of Superstorm Sandy, Hurricane Irene, and/or Tropical Storm Lee with a preference for households displaced by Superstorm Sandy.

Artists will also have preferences as this will bring an artistic element and fresh energy by offering gallery spaces and preference to our local artists. Riverhead has been progressive and welcoming to artists over the last several years and it shows by the growing number of public art displays, the success of the performing arts venues, and the approval of Peconic Crossing. Not only will Peconic Crossing further encourage artists to engage in the community, it will also ensure housing costs remain affordable.

Peconic Crossing is receiving federal and state low income housing tax credits, CDBG Disaster Recovery funds through the Governor’s Office of Storm Recovery, infrastructure funds through Suffolk County (in the amount of $350,000), REDC funds through Empire State Development, and a grant from New York State Energy Research and Development Authority. CDCLI Funding Corp. is also investing $200,000 into the development.

The new Suffolk County apartments for rent will be spacious energy-efficient, one and two bedroom apartment homes at Peconic Crossing. The 5 story apartment building will include laundry facilities, maintenance and property manager on site, and fitness center. And if you can’t wait for Peconic Crossing to be completed, there are always Long Island apartments in Amityville.

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Suffolk County Apartments Financed by Affordable Housing Program

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