Home > News
North Hempstead CDA Receives $1.26M for Housing in New Cassel

January 26, 2015
MEDIA CONTACTS: Carole Trottere, Ryan Mulholland, Sam Marksheid, and Rebecca Cheng | (516) 869-7794

North Hempstead CDA Receives $1.26M for Housing in New Cassel

North Hempstead, NY – The Town of North Hempstead Community Development Agency (CDA) received more than $1.2 million this week to be used toward the construction and re-development of homes in New Cassel, as well as toward down payments for prospective homeowners. This funding is courtesy of the 40th year Community Development Block Grant (CDBG) contract, the HOME Funds contract, and a Down Payment Assistance award from New York State Homes and Community Renewal.

This funding will help with the ongoing North Hempstead Workforce Housing Program, which is a joint partnership between the Town and the CDA along with the Long Island Housing Partnership, the Nassau County Office of Community Development, the New York State Affordable Housing Corporation and developer Cornerstone Properties of New York.

A lottery was held last month where prospective homebuyers were chosen to have the opportunity to purchase 15 newly-constructed homes in New Cassel. The funding will be dedicated as follows: $700,000 of the funding will be used for construction and redevelopment of four of the single family homes, with $560,000 going toward down payments for 14 prospective homebuyers, which will be broken down to $40,000 per home.

“I was so pleased to participate in the housing lottery and to have the opportunity to open up the door to homeownership for those who otherwise might not have the chance. ,” Supervisor Bosworth said. “This additional funding will provide down payment assistance for qualified prospective homebuyers which will make it more likely that they will be successful in being able to purchase a home.”

Councilwoman Viviana Russell, who represents the New Cassel area said, “For so many the American Dream of homeownership had only been a myth. These funds will now bridge the financial gap to make homeownership a reality. I look forward to welcoming the new homeowners into New Cassel.”

"My administration has made it a priority to create more housing opportunities for our residents," said County Executive Mangano. "With the use of Federal funds, the County and Town of North Hempstead are helping residents achieve the American dream of homeownership while constructing and renovating homes such as these in New Cassel."

The developer of the homes, Cornerstone, has also been awarded $950,000 in construction subsidies, in addition to the $575,000 previously received by the CDA for the property acquisition.

LIHP is continuing to accept applications for the housing lottery that will be processed on a first come first serve basis based on the availability of homes. Eleven of the homes are selling for a low price of $133,616. Anyone interested should contact the Long Island Housing Partnership at (631) 435-4710 for additional information.

Supervisor Bosworth, Councilwoman Russell and others gather at the Workforce Housing Lottery in December 2014.
View Archives