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Grand opening for new apartments in Hempstead
The Community Development Corporation of Long Island and Conifer Realty LLC will celebrate Monday the grand opening of Twin Oaks Apartments, a revitalized 94-unit workforce rental housing community in Hempstead Village.
The ribbon-cutting ceremony for the apartments will take place at 11 a.m. on 7 and 21 Manor Avenue.
Nassau County Executive Edward Mangano and Hempstead Village Mayor Wayne Hall are expected to speak at the ceremony.
The new development made use of two buildings formerly occupied as dormitories for Hofstra Law School until the university decided several years ago to consolidate all of its housing on its campus.
The formerly vacant buildings, built in 1961, were redesigned to create modern apartments with new kitchens and bathrooms, project officials said.
Twin Oaks was approved, financed and completed in less than two years. The development includes a mix of public, private and not-for-profit funding sources, project officials said.
The property did not previously generate tax revenue since Hofstra is a tax-exempt institution. Now that the development is complete, Twin Oaks will pay full taxes with an assessment based upon its capitalized cash flow, project officials said.
Tags: Hempstead Village