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Riverhead's $18.5M mixed-use housing awarded grant from National Grid

A mixed-use affordable housing complex in downtown Riverhead has been awarded a grant from National Grid that will offset some of the costs for the $18.5 million development.

Peconic Crossing, a 45-unit complex, was recently awarded a $25,000 grant through National Grid’s Cinderella Program.

Gwen O’Shea, president and chief executive of the Community Development Corp. of Long Island, a co-partner with Conifer Realty, LLC in developing the complex, said the grant would go toward offsetting costs related to the development’s construction and completion, outreach and advertising for the project.

The complex, which held its grand opening in November, was opened to house artists and those displaced by storms such as superstorm Sandy. The Riverhead Town Board granted final approval to the complex in March 2016.

“Significant funding” for the project had previously come from sources including the Suffolk County Workforce Infrastructure Program, the Empire State Development Fund, and the New York State Low-Income Housing Tax Credit Program, O’Shea said.

“At some point, there might be a great opportunity to expand what we’re bringing through that project," she said. "As far as feeling positive and confident about the resources that have been brought in to make sure the project thrives as it currently stands, we feel really good about that,” O’Shea said.


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