More than $26 million from the Long Island Investment Fund (LIIF) will be directed to five housing projects in Nassau and Suffolk counties, according to an announcement by Governor Kathy Hochul. The investment is intended to support nearly 750 new housing units as part of ongoing efforts to address Long Island’s housing shortage.
The total value of the projects exceeds $467 million and aims to provide both affordable and workforce housing options for families, veterans, and people with disabilities. Governor Hochul stated, “By investing in these five significant projects, we are building the homes Long Island families need and deserve — affordable, accessible and close to jobs and transit. 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.”
Hope Knight, President, CEO and Commissioner of Empire State Development, said, “These investments are more than housing — they’re catalysts for economic growth. 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.”
RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal, commented on the impact: “Under Governor Hochul’s leadership, these Long Island Investment Fund awards are a game-changer for addressing our State’s housing crisis. By supporting nearly 750 new homes across Nassau and Suffolk counties, including affordable and workforce housing, we’re creating opportunities for families, veterans, and individuals with disabilities to thrive in vibrant, transit-oriented communities. These projects are a critical step toward building a more equitable and accessible Long Island.”
Kevin Law, Chairman of the Empire State Development Board added: “The Long Island Investment Fund is proving to be a powerful tool for addressing our region’s most pressing challenges. 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.”
Linda Armyn of FourLeaf Federal Credit Union and Dr. Kimberly R. Cline of Long Island University serve as co-chairs of the Long Island Regional Economic Development Council (LIREDC). They jointly stated: “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.”
The LIIF was established as a $350 million fund designed to boost economic growth in Nassau and Suffolk Counties through support for transformative projects that create jobs or strengthen communities—with an emphasis on increasing available housing stock.
Among the awarded projects:
– The Preserve at South Country Road in Southampton will receive $4 million toward its $54 million cost for 79 units focused on workforce needs.
– The Grand at Baldwin gets $6 million; this $121 million project near public transportation will provide 215 apartments.
– Alegria South in Bellport secures $4.5 million out of its $53 million budget; all 96 units will be affordable.
– The Carriage House in Patchogue receives $8 million toward its $177 million plan for 262 mixed-use residential units.
– One Carleton Green in Central Islip is granted $3.8 million; this development aims at providing 96 fully affordable units.
The LIIF grants range from $2 million up to $20 million per project based on competitive criteria including private investment leverage and projected long-term community benefits.
Governor Hochul has prioritized tackling New York’s statewide housing issues through recent budgets—allocating over $1.5 billion in new state funding for fiscal year 2026 alone—and policies like tax incentives as well as renter protections. This builds upon her earlier five-year plan targeting creation or preservation of 100,000 affordable homes statewide.
To date over 65,000 homes have been created or preserved under these initiatives.
Additionally over 350 localities have obtained Pro-Housing certification since changes made through fiscal years 2025–2026 budgets; this certification provides access to up to $750 million in discretionary state funds reserved exclusively for participating communities.
