Rental Housing Project Gets Approval For 2nd Time In Hempstead

HEMPSTEAD, NY — A rental housing project in Downtown Hempstead Village, first proposed in 2016 by lifelong village resident, has been given preliminary approval, the Town of Hempstead Industrial Development Agency (IDA) said.

The IDA granted preliminary approval to the updated project at its meeting on April 23 to Main Street Hempstead Apartments LLC, a project to be headed by Rashid Walker, a real estate developer and member of the village’s planning board. The project is at 257 Main St.

Walker is proposing to develop the 1.69-acre site for $114.6 million with a 331,584-square-foot mixed-use development with 246 apartments, about 8,600 square feet of ground-floor retail space, and a parking garage of 104,468 square feet.

The residential unit mix will be 80 two-bedroom units, 141 one-bedroom units and 25 studio units. Ten percent of the units will be set aside as attainable housing as required by the Village of Hempstead Zoning Code. Site plan approval is pending. Construction, which will create 100 construction jobs, is expected to begin in September.

“We’re pleased to again move this project forward as part of the revitalization of Hempstead,” said Fred Parola, IDA CEO. “Upon completion, this transformative project will provide much-needed rental housing for residents of the Village and the Town and bring in additional revenues for taxing jurisdictions.”