December 18, 2024
Governor Kathy Hochul and New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas today announced the completion of The Green at Gardiner’s Point, a 50-unit affordable housing development in the town of East Hampton, Suffolk County. The $33.5 million all-electric development is designed to complement the aesthetic of East Hampton and the natural vegetation and qualities of the surrounding area, and provides affordable housing opportunities in the high- performing East Hampton Union Free School District. In the past five years, New York State Homes and Community Renewal has created or preserved 3,250 affordable homes in Suffolk County. Gardiner’s Point continues this effort and complements Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.
“Throughout New York, residents are facing high housing costs resulting from an insufficient supply of affordable homes,” Governor Hochul said. “By creating 50 new, energy-efficient homes, Gardiner’s Point provides working families new opportunities to reside in a vibrant community with high-performing schools, continuing my administration’s commitment to ensuring all New Yorkers can afford to live in the communities they call home. East Hampton was the first municipality in Suffolk County to become a certified Pro-Housing Community and this development is an example of the town’s commitment to housing growth.”
HCR Commissioner RuthAnne Visnauskas said, “The completion of Gardiner’s Point provides 50 new, energy-efficient and affordable apartments in a beautiful community in need of more housing choices Thank you to all our partners, including Georgica Green Ventures, LLC and the East Hampton Housing Authority, for their tireless efforts to make this project a reality, and to Governor Hochul for her focus on tackling the affordability crisis facing New Yorkers.”
Developed by Georgica Green Ventures, LLC and the East Hampton Housing Authority, all apartments at The Green at Gardiner’s Point are affordable to households earning up to 60 percent of the Area Median Income. The development includes five residential buildings with amenities including balconies, a playground, broadband Wi-Fi, laundry facilities and a generator in the event of power outages.
An all-electric, energy-efficient development, The Green at Gardiner’s Point has been certified under Enterprise Green Communities Criteria 2020 and Energy Star Certified Homes V 3.1, with the development utilizing Energy Star appliances, electric heat pump heating and hybrid electric hot water heaters.
State financing for The Green at Gardiner’s Point includes federal Low-Income Housing Tax Credits that will generate $18 million in equity and $3.7 million in subsidy from HCR. Suffolk County provided $2.2 million in subsidies.
East Hampton Town Supervisor Kathee Burke-Gonzalez said, "Today, we celebrate the completion of The Green at Gardiner’s Point, a significant step for housing in East Hampton. These 50 affordable rental units provide stability for working families, security for our seniors, and hope for young people building their futures here. As we welcome new residents to their homes, we look forward with optimism, knowing that this milestone is just the beginning of creating a stronger, more affordable future for all who call East Hampton home."
David Gallo, President, Georgica Green Ventures, said, “Everyone at GGV is excited to welcome the fifty families who will call The Green at Gardiner’s Point home, and grateful to the Town of East Hampton for once again entrusting us with the responsibility to develop and build in the community. Thanks also to the teams at the State of New York and Suffolk County for their leadership and dedication to providing safe, clean, accessible affordable housing to New Yorkers.”
Governor Hochul’s Housing Agenda
Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 50,000 homes have been created or preserved to date.
The FY25 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro Housing Certification is now a requirement for localities to access up to $650 million in discretionary funding. To date, more than 230 communities have been certified, including the town of East Hampton.