The Town of Hempstead Industrial Development Agency has given preliminary approval for The Promenade 360 in Valley Stream to be converted into a rental apartment complex.
The building spans 13,549 square feet and is owned by Vassillos (Bill) Kefalas. It sits on 0.38 acres and will accommodate 15 apartments. It will also have 517 square feet of retail space. and a common area spanning 1,801 square feet. The apartment complex will have one studio, nine units with one bedroom, and five units with two bedrooms.
Brochure printing can be used to offer more details on the planned features and amenities of such apartment units.
The CEO of the Industrial Development Agency, Fred Parola, said that if the project is officially approved, it will add to the growing stock of quality rental housing seriously needed in town, as well as increase the tax base of the community.
Kefalas has been assisted by the Hempstead Industrial Development Agency on two other projects. One of them is The Promenade on North Central Avenue, which is a mixed-use building, while the other is The Vintage at Roosevelt, which is on Roosevelt Avenue and has 17 units.
The project is expected to create 20 construction jobs and one part-time permanent position. It is scheduled to be completed in about a year.
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246 Rockaway Avenue
Valley Stream, NY 11580
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