families need and deserve — affordable, accessible and close to jobs and transit,” Governor Kathy Hochul said. “My administration is committed to ensuring every New Yorker has a safe, affordable place to live, and the Long Island Investment Fund is helping us deliver on that promise.”
These awards are part of the $350 million Long Island Investment Fund, created to drive economic growth and address critical needs across Nassau and Suffolk Counties. Administered by Empire State Development in partnership with the Long Island Regional Economic Development Council, the fund supports transformative projects that create jobs, strengthen communities, and drive regional growth, with a particular emphasis on housing development to address Long Island’s housing shortage. Competitive grants ranging from $2 million to $20 million are awarded to projects that leverage private investment and demonstrate lasting community impact.
The five projects are as follows:
- The Preserve at South Country Road – Southampton | LIIF Award: $4,000,000 This $54 million workforce housing development will create 79 units in a garden-style community on Montauk Highway in Southampton. The project includes specialized units for veterans and individuals with disabilities, addressing critical housing needs in the Hamptons area where workforce housing is particularly scarce. The development features six two-story residential buildings with a clubhouse and recreational amenities.
- The Grand at Baldwin – Baldwin | LIIF Award: $6,000,000 Located directly across from the Baldwin LIRR station, this $121 million transit-oriented development will deliver 215 rental apartments, including 22 affordable units. The project exemplifies smart growth principles by concentrating housing near mass transit.
- The Alegria South – Bellport | LIIF Award: $4,500,000 This $53 million development will create 96 units of 100 percent affordable housing on seven acres in Bellport, a distressed community in need of housing investment. The project includes specialized units for individuals with developmental disabilities and veterans, demonstrating the state’s commitment to serving vulnerable populations.
- The Carriage House – Patchogue | LIIF Award: $8,000,000 The largest project in today’s announcement, this $177 million mixed-use development will create 262 housing units across two five-story buildings in downtown Patchogue. The transit-oriented development will provide 53 affordable units while supporting significant infrastructure improvements, including sewer upgrades that will benefit the broader community.
- One Carleton Green – Central Islip | LIIF Award: $3,800,000 This $62 million transformative development will replace underutilized parcels with 96 units of 100% affordable housing in a three-story mixed-use building. Located in Central Islip’s downtown area, the project will help revitalize the community while providing quality affordable housing options.
“These investments are more than housing — they’re catalysts for economic growth,” Empire State Development President, CEO and Commissioner Hope Knight said. “By creating homes for Long Island’s diverse workforce across Nassau and Suffolk counties, we’re fueling local businesses, strengthening downtowns, and building vibrant, walkable neighborhoods that support community connections.”
“The Long Island Investment Fund is proving to be a powerful tool for addressing our region’s most pressing challenges,” Empire State Development Board Chairman Kevin Law said. “These housing developments represent exactly the kind of smart, targeted investments that will help ensure Long Island remains a place where the next generation can afford to live and work. By supporting both workforce and affordable housing, we’re building stronger, more inclusive communities.”
LIREDC Co-Chairs Linda Armyn, President & CEO at FourLeaf Federal Credit Union and Dr. Kimberly R. Cline, President of Long Island University, said, “These projects reflect Long Island’s shared commitment to housing that works for everyone—working families, seniors, veterans, and people with disabilities. By investing in transit-oriented and community-focused development, we are laying the groundwork for inclusive, sustainable growth across the region.”