Long Islanders can expect nearly 750 new housing units funded by more than $26 million from the Long Island Investment Fund. Governor Kathy Hochul announced grants to launch five housing projects aimed at addressing the ongoing housing shortage in Nassau and Suffolk counties. These developments will emphasize affordability and accessibility, targeting families, veterans, and individuals with disabilities.
In a statement obtained by the Governor's office, Hochul explained, "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." Empire State Development President, CEO, and Commissioner Hope Knight expressed similar views: "These investments are more than housing — they’re catalysts for economic growth."
The total investment comes in at $467 million, earmarked to support developing housing closer to job hubs and transit, as well as promote economic growth in local communities. Empire State Development Board Chairman Kevin Law highlighted the fund as a powerful tool "addressing our region's most pressing challenges." Law said, "These housing developments represent exactly the kind of smart, targeted investments that will help ensure Long Island remains a place where the next generation can afford to live and work," according to a statement obtained by the Governor's office.
Of particular interest is the The Preserve at South Country Road in Southampton, which received $4 million to develop 79 units of workforce housing. This is a part of the larger strategy to provide nearly 750 new homes across the impacted counties. RuthAnne Visnauskas, New York State Homes and Community Renewal Commissioner, told the Governor's office, "These Long Island Investment Fund awards are a game-changer for addressing our State's housing crisis." Notable developments also include the transit-oriented The Grand at Baldwin and The Carriage House in Patchogue, which alone will add 262 units to the housing stock.
These housing initiatives are part of Governor Hochul’s broader plan to address housing needs across New York State, as outlined in the FY25 and FY26 Enacted Budgets, which include a range of housing-related measures. To date, more than 65,000 homes have been created or preserved, and the latest projects are expected to further increase the availability of affordable housing on Long Island.
