State gives $5.6M in funding to affordable housing project in East Hampton Town

A proposed 50-unit East Hampton affordable housing complex will receive $5.6 million from the state, funding that the developer said will allow the project to move forward.

Georgica Green Ventures is partnering with the East Hampton Housing Authority to build the complex on 14 acres on Three Mile Harbor Road and hopes for full approvals and shovels in the ground by the end of the year. The money is a mix of tax credits and federal and state funds.

The units would be available to those earning 30% to 60% of Area Median Income — which is currently $26,600 to $53,150 for an individual or $38,000 to $75,950 for a family of four — according to a project description provided by the developer. Eight Section 8 vouchers would also be part of the project.

The South Fork workforce has long struggled to find affordable places to live, and the issue has only been worsened by a pandemic-driven real estate boom.

"To me, the disparity between the workforce and their ability to rent or buy a home, it’s just so incredible," said Georgica Green president David Gallo. "As someone working on projects throughout New York State, it was an unmet need."

The proposed project would feature one-, two- and three- bedroom units spread among five townhouse-style buildings, as well as a community building.

Georgica Green has also developed two complexes in Southampton Town and most recently the 37-unit Gansett Meadows affordable housing development in Amagansett. Affordable housing projects have traditionally met opposition on the South Fork, but Gallo has stressed his projects feature high-end building materials and blend into the surrounding community.

More than 500 people applied to live in the Amagansett complex, which has been fully leased as of January, said Catherine Casey, executive director of the East Hampton Housing Authority. That demand illustrates the need for such projects, which are typically funded through tax credits, government money and private funds.

"The open market is not going to take care of the paucity of affordable housing," Casey said. "Those days are gone."

Gov. Andrew M. Cuomo announced on Wednesday that $98 million in state funds had been awarded to build more than 1,000 units across the state, including the East Hampton project.

"As we rebuild from the pandemic, these awards are further proof of our unwavering commitment to ensuring all New Yorkers have a safe, stable and affordable place to live," Cuomo said in a statement.

By Vera Chinese

vera.chinese@newsday.com@VeraChinese

Vera Chinese joined Newsday in 2017 after working as an editor for the East End lifestyle publication northforker and a general assignment reporter for the New York Daily News.