The $2.5 billion downtown revitalization project planned for Hempstead will make the village a destination, says LaMont Johnson, a Hempstead Village trustee.
“It’s an area on the rise,” he says, adding that the project will increase property values and bring jobs to the village for years to come.
Ground was broken on the project in December and Johnson says some older buildings on North Main Street have since been demolished to clear the land for development. Hempstead Village’s renewhempstead.com website says the multisite project is to include a five-story mixed-use building adjacent to the LIRR train station that will house 96 workforce apartments — affordable housing located in or near centers of employment — and 5,500 square feet of restaurants.
Also, 228 mixed-income apartments and more than 20,000 square feet of ground-level restaurants at the southwest corner of Main and Bedell streets; 255 market-rate apartments and 7,000 square feet of retail and restaurant space at the northwest corner of Main and Bedell; Cooper Square, a five-story building that will feature 336 market-rate rental units; and a 10,000-square foot office building for the Dell Bus Co.
Plans for the project, which is expected to take 10 years to complete, also call for a hotel, movie theater, and parking and sewer upgrades.
When the developments are in place, “More people would stay in Hempstead instead of traveling through Hempstead,” Johnson says. “They’ll have a destination of different places to shop and things of that nature.”
The most common housing styles in Hempstead Village are capes and Colonials, says Sam Beznos of Solid Homes Realty.
Centrally located, the village is a short trip down Hempstead Turnpike from the renovated Nassau Coliseum and Eisenhower Park, and is close to beaches via the Meadowbrook Parkway, and to Manhattan, which is roughly 30 miles away.
Hempstead is also home to Hofstra University and various parks, including Kennedy Memorial Park.
CONDOS AND TOWN HOUSES
There are three condos on the market, ranging in price from $254,000 to $379,000.
Between May 1, 2016, and May 18, 2017, there were 265 home sales with a median sale price of $270,000, according to the Multiple Listing Service of Long Island. The low price for that period was $102,000 and the high was $1.2 million. During that period a year earlier, there were 234 home sales with a median price of $246,500. The range then was $79,000 to $817,000.
Most students attend Hempstead High School. In 2016, 12 percent of graduates earned a Regents diploma with advanced designation. That’s up from 10 percent in 2015.
Area: 3.7 square miles
ZIP code: 11550
Median age: 32.5
Median household income: $55,417
Median home value: $264,500
LIRR to NYC 48 to 56 minutes at peak
Monthly ticket: $261
School district: Hempstead
SOURCES: 2010 Census; mlslI.com; LIRR;*Based on sales in the past six months, according to MLSLI
$440,000, AZALIA COURT
After 85 days on the market, this three-bedroom, 1½-bathroom Colonial sold for $23,000 less than its asking price. The house, built in 1941, includes a vestibule that leads into a living room with a fireplace and hardwood floors. That flows into a formal dining room and eat-in kitchen with stainless steel appliances. Three bedrooms and a full bathroom are on the upper level. The basement includes a finished recreation room. Taxes on the 40-by-100-foot property, which includes a detached one-car garage, are $17,535.
$315,000, DOWNS ROAD
This four-bedroom cape sold for $4,000 less than its asking price after 91 days on the market. The 1951 home, which features 2½ bathrooms, includes a living room, kitchen, dining room and two bedrooms and a full bathroom on the main level. On the upper level are an additional two bedrooms with a full bath. A finished basement includes a bar and a half-bathroom. The 70-by-80-foot property, with taxes of $10,033, also includes a covered breezeway that leads to a one-car garage.
$245,000, WILLOW AVENUE
Originally listed for $259,000, this three-bedroom Colonial sold in February after 167 days on the market. Built in 1923, the house includes a living room with a fireplace, eat-in kitchen, formal dining room, enclosed porch with heat and 1½ bathrooms. All three bedrooms and a full bathroom are on the upper level. The 50-by-97-foot property also boasts a finished basement and a detached one-car garage. The taxes are $13,014.
NOW ON THE MARKET
This three-bedroom, one-bathroom ranch includes a living room, eat-in kitchen and office. Taxes on the 40-by-100-foot property are $12,132. Michael Adams, Keller Williams Realty Greater Nassau, 516-852-5242.
This expanded cape, with four bedrooms and three bathrooms, features a living room, formal dining room and granite eat-in kitchen. The 0.31-acre property also includes a finished basement and attached two-car garage. Taxes: $15,581. Marina Revnyaga, Solid Homes Realty, 516-867-6700.
This three-bedroom, 1½-bathroom Colonial, with fireplaces in the living room and family room, also includes an eat-in kitchen and a dining room. The 54-by-100-foot property has a finished basement and attached one-car garage. Taxes: $13,797. Peter Owen, Better Homes and Gardens Real Estate, 516-317-2860.
ON MULTIPLE LISTINGS
Number of houses: 148
Price range: $85,000 to $849,000
Tax range: $4,358 to $25,838