Elected officials and housing advocates joined developers Thursday at a groundbreaking ceremony for a new affordable housing project in the Garvies Point development in Glen Cove. 

Construction actually began last month on the $31.5 million project from Jericho-based Georgica Green Ventures that will bring 55 workforce-priced rental apartments to a 1.5-acre site purchased from Garvies Point developer RXR Realty. 

The new rental development will consist of two four-story buildings that will have four studio residences, 16 one-bedroom, 29 two-bedroom and six three-bedroom apartments for people earning from 30 percent to 100 percent of the area median income. 

Monthly rents at the new project will be priced at about $1,100 for a studio, $1,400 for a one-bedroom, $1,700 for a two-bedroom and about $2,000 for a three-bedroom apartment. 

The development is slated to be completed in 18 to 20 months. The Long Island Housing Partnership will conduct a lottery for the apartments in Q4 2022. 

Georgica Green Ventures and state housing officials have made a 50-year commitment to keeping the development affordable. 

“It’s not short-term affordability,” said David Gallo, a Georgica Green principal. “We’re creating this for the long term.” 

Gallo said the affordable apartments are just a piece of a much larger puzzle at the sprawling mixed-use development known as Garvies Point. 

“We’ve committed ourselves to quality, which is why we can do this project,” Gallo told LIBN. “I think it will be a successful component of the entire Garvies Point community.” 

Aerial of The Beacon condo building at Garvies Point. / Courtesy of RXR Realty

Meanwhile, the rest of the 54-acre Garvies Point development, which Uniondale-based RXR started constructing in 2016, continues to take shape. The two-building market-rate rental complex called Harbor Landing is on its way to full occupancy, with the 177-unit building at 100 percent occupancy and the 208-unit building at about 70 percent occupancy, according to Joe Graziose, RXR’s executive vice president for residential construction and development. 

The Beacon, which has 167 for-sale condo residences that start at $700,000 and go up to as much as $3 million apiece, is about 60 percent sold. 

Though the original Garvies Point plan called for a 50,000-square-foot office building, RXR will instead use that 1.3-acre parcel to create a 175-vehicle parking lot that it will donate to the City of Glen Cove. Still in the planning stage is a 172-unit luxury rental building on 3 acres that will also house a 7,000-square-foot restaurant space. 

RXR is currently building out a 7,500-square-foot space for Garvies Point Brewery, which is slated to open in March 2022. In addition, the developer will build about 30,000 square feet of retail space that will accommodate an upscale food market and other shops. 

Other Garvies Point projects on the drawing board will be an affordable for-sale housing component with 55 workforce-priced condos and 346 market-rate condo residences in three buildings located just west of the Beacon condos that will also incorporate an 8,000-square-foot restaurant space. 

“Since 2016 and long before, RXR and its partners and investors have invested nearly $500 million in the once blighted 54-acre industrial area on Glen Cove’s waterfront, which has become home to more than 1,000 people with parks, waterfront esplanade, marinas and a wonderful lifestyle community,” Graziose said. “This foundation allows us to continue to complete the vision of this transformative development.” 

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