ToBay leads the way in Next Generation Housing

Twenty-eight individuals and families got one step closer to their dream of owning a home on January 10, when a lottery drawing for the first 28 units of "Next Generation" housing in the Town of Oyster Bay was held, according to Town Supervisor John Venditto, who indicated that more than 300 people were on hand for the event, including many of the 269 applicants.

"This was a very exciting occasion for the Town of Oyster Bay," Supervisor Venditto stated. "As one of the most desirable places in the world in which to live, the Town of Oyster Bay has seen an unprecedented surge in property values over the past several years. While this is certainly a benefit for homeowners, who have invested so much into their property, current real estate prices present a formidable challenge to our young people and families seeking to buy a home. These townhouse units, which are located in Plainview, will sell for around $250,000, making them literally a dream come true for 28 lucky applicants. I can't tell you how heartwarming it was to see the faces on the people whose names were chosen."

The Supervisor noted that the people whose names were selected will still have to go through a further qualifying process under the auspices of the Long Island Housing Partnership (LIHP), which is overseeing the Town's "Next Generation" housing program.

Supervisor Venditto went on to say that the creation of the "Next Generation" housing program came about in 2004, when, in response to a growing need for housing for our young people, the Oyster Bay Town Board approved legislation creating a brand new zoning classification known as "RNG- 12" or "Next Generation." The legislation, which was developed in partnership with the LIHP, was designed to encourage developers to build price-controlled housing for first-time homebuyers. Shortly after the creation of the new zone, the Town received its first application incorporating "Next Generation" housing, a development on the southeast corner of Fairchild Avenue and Michael Court in Plainview called The Seasons at Plainview, which was approved in May 2005 and is now under construction. A second development incorporating "Next Generation" housing has been approved for Massapequa, and shortly before construction is completed, applications for the 30 "Next Generation" units will be mailed out. People interested in receiving an application can contact the LIHP at 1-800-528-8683. Applicants do have to meet income and other guidelines.

"The Town's goal with the creation of the 'Next Generation' housing program was to help keep our sons and daughters in Oyster Bay in the same way our 'Golden Age-RSC-25' housing program has helped keep our parents and grandparents in Oyster Bay," Supervisor Venditto commented. "By providing our young people with an opportunity to achieve the personal and financial stability that accompanies homeownership, we are helping ensure that our Town remains the best place to live and raise a family for present and future generations.

Reader Comments

No comments have been posted. Be the first!

Other Stories With Comments:
Article	Comments
News: March 25, 2008	1
PLEASE MEET: Candidates for Fire District Commissioners' seats in...	1