The Industrial Development Agency of the town of Hempstead has given preliminary approval of housing development for seniors planned in Valley Stream.
A building of four stories will be constructed by BDC BOSFA Valley Stream LLC, a joint venture between BOSFA Management, based in Lawrence, and Benjamin Companies, based in Garden City. The building will be on the northwest corner of Hicks Street and W. Valley Stream Boulevard on a parcel of land spanning 1.49 acres, which is now a municipal parking lot being purchased by the developer.
The project will be called Alder at Valley Stream. It will have 132 apartments for people who are 55 years of age and older. The cost of the project is expected to be $60m.
The 132 units will have 16 studios, 105 units with one bedroom, and 11 units with two bedrooms. Affordable workforce housing will be designated for 10% of the units and offered at reduced rates.
The building will also have a lobby and utility space on the ground floor, and indoor amenity space spanning 1,200 square feet. There will be parking spaces for 112 vehicles and an outdoor terrace spanning 8,337 square feet. Brochure printing can be used to provide more details on such projects, their features, and their amenities.
The project will provide 100 construction jobs and four permanent ones and is expected to be completed in a little over 2.5 years.
Location
246 Rockaway Avenue
Valley Stream, NY 11580
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