A critical lifeline has been extended to one of Great Neck’s most essential residential hubs. New York State has announced a $22 million investment for the acquisition and total rehabilitation of a Great Neck senior housing development, located at 700 Middle Neck Road.
The funding, as a part of a larger statewide initiative, aims to create or preserve 100,000 affordable homes across New York.
Constructed in 1983, the facility is now over 40 years old and is facing long-overdue infrastructure challenges. The building currently requires a comprehensive update to its essential internal systems, including electrical, plumbing, septic, and fire-prevention equipment, to bring the structure up to modern standards.
The state funding will help keep the apartments as housing for low-income tenants. Eligible tenants must earn no more than 50% of area median income. Miao Li
The renovation is being led through a partnership between the developer Georgica Green Ventures, LLC and the Village of Great Neck Housing Authority. Together, the partners will use the $22 million infusion to refresh the 75-unit complex, ensuring it remains a safe and dignified environment for its residents.
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A primary goal of the state funding is to protect the site’s long-term affordability for low-income tenants. Of the 75 apartments, 74 will be reserved for seniors aged 55 or older who earn at or below 50 percent of the Area Median Income (AMI). One additional unit, excluded from the appropriation, is designated for the building’s superintendent. Currently, the income limit for eligible tenants stands at $57,750 for a single person and $66,000 for a couple, based on standards set by the U.S. Department of Housing and Urban Development.
Village of Great Neck Mayor Pedram Bral emphasized the project’s importance for the community’s most vulnerable residents and thanked the state for prioritizing the village.
“I thank Gov. Kathy Hochul for this transformative $22 million investment,” Bral said. “This funding will help the Great Neck Housing Authority enhance services and improve housing, ensuring our seniors live with greater dignity and comfort.”
The project aligns with Gov. Hochul’s broader five-year Housing Plan, which aims to create or preserve 100,000 affordable homes across New York. By upgrading existing facilities like the one on Middle Neck Road, the state and village are working to prevent the loss of affordable housing to structural decay or market-rate conversions.
While a specific timeline for the start of construction has not yet been released, the commitment of state capital guarantees that the vital infrastructure repairs can finally move forward, securing a stable home for many Great Neck seniors for decades to come.