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Posted: April 30, 2024
Developing Long Island: Town of Babylon
Babylon, NY At the Town of Babylon IDA, we are dedicated to fostering sustainable growth and economic development in our region. Our strategic plans focus on enhancing infrastructure, promoting business expansion, and creating opportunities for job growth and community prosperity. We are proud to highlight several transformative projects that are currently underway or recently completed in our region. These projects include Building L in Wyandanch and Alegria North also in Wyandanch. Both are affordable multi-residential buildings in the heart of the town’s revitalization efforts known as Wyandanch Rising.
Alegria North, LLC is currently the newest proposed project, the redevelopment at 309 Merritt Ave. & 23 North 16th St. in Wyandanch, NY. This transformative initiative includes the acquisition and demolition of an existing building, clearing of land, and construction of an 82,500 s/f, 100% affordable commercial multi-family rental housing facility. Comprising 81 units, the facility is poised to revitalize downtown Wyandanch, offering much-needed housing options while contributing to the economic and social fabric of the community. Alegria North is committed to creating vibrant, inclusive spaces that enhance the quality of life for all residents.
The newest building that furthers the Wyandanch Rising initiative is a $140 million mixed-use building at the corner of Straight Path and Long Island Ave. The five-story project, the first in the development’s Phase 2, will bring 218 affordable apartments over 6,400 s/f of community facility space to be leased at below-market rents to organizations providing services to the neighborhood. The development known as “Building L” will bring 19 studios, 99 one-bedroom, 79 two-bedroom, and 20 three-bedroom rental apartments, plus one unit for a superintendent. Seven apartments will be set aside for individuals with intellectual and developmental disabilities with services provided by Family Residences and Essential Enterprises (FREE)
Each of these initiatives contributes to the revitalization and enhancement of our region, bringing new opportunities for businesses and residents alike. In terms of tax relief benefits, the Town of Babylon IDA offers a range of incentive programs to support local businesses and encourage investment in our community. These programs aim to reduce tax burdens for eligible projects, stimulate economic activity, and spur job creation.
We encourage you to visit our website www.babylonida.org or reach out to our chief executive officer Tom Dolan at (631) 587-3679.
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