Suffolk County Landbank gets $4.8M for factory-built homes in state grant
Suffolk was one of four counties statewide selected to receive funds through the state's MOVE-IN NY program to build manufactured homes. Credit: Office of Governor Kathy Hochul/Mike Groll
Suffolk County Landbank will receive $4.8 million from New York State to cover the purchase of 11 manufactured homes that will be sold for less than the cost of construction.
Suffolk was one of four counties statewide selected to receive funds through the state's MOVE-IN NY program. The state selected East Hampton Town in May as the first Long Island recipient, awarding the town $7 million to build 16 manufactured homes.
Long Islanders have looked to factory-built housing, which is built offsite and shipped to its final destination, as a potential lower-cost alternative to traditional new construction and the region's pricey resale market. Single-family home prices reached all-time highs this summer before declining in September, when the median prices were $860,000 in Nassau and $740,000 in Suffolk.
But the cost of acquiring land on Long Island is one of the greatest hurdles for first-time buyers looking to save money through factory-built housing.
The program aims to use the benefits of factory-built housing to create opportunities to purchase affordable single-family homes, Gov. Kathy Hochul said in a statement on Friday.
The Landbank, a nonprofit created in 2013 in coordination with the county government, acquires tax-delinquent, abandoned or brownfield properties in need of environmental clean-up, according to its website.
Suffolk County Executive Edward P. Romaine chairs its board of directors.
The MOVE-IN NY program "will help address Suffolk County's need for affordable single-family homes," Romaine said in an emailed statement to Newsday. "Expanding homeownership opportunities will help families build stability, strengthen neighborhoods, support the local workforce and thrive on Long Island."
Prices will be set to meet federal affordability standards for buyers earning between 70% and 130% of area median income, according to New York State Homes and Community Renewal.
That's between $80,500 to $149,500 for an individual and $131,450 to $213,600 for a family of four based on this year's federal guidelines. Those income levels are updated annually by the U.S. Department of Housing and Urban Development.
Jonathan LaMantia covers residential real estate and other business news on Long Island. He previously covered the business of health care for Crain's New York Business.
