You may have noticed that ground has been broken on Vineyard View, the planned 50-unit affordable apartment complex on the south side of Route 48, just east of San Simeon by the Sound, in the unincorporated section of Greenport.
Officials anticipate the completion of the work in a little more than a year.
“The project, once complete, will help fill the need of affordable rentals that simply aren’t available,” Southold Supervisor Scott Russell said Friday.
“The town moved away from the home ownership model of the past two decades and is focusing more and more on creating rentals,” he said.
Vineyard View calls for 50 apartment units in seven buildings, and the units will be offered for rent at rates set by the federal government that will guarantee affordability for 50 years.
There will be 14 one-bedroom units, 22 two-bedroom units and 14 three-bedroom units, along with a 2,649-square-foot community center, 104 parking spaces and other site improvements on a 17.19-acre property that was wooded prior to clearing.
Officials say 10 of the 17 acres will be preserved as open space, and the open space will consist of 6.3 acres that will be upland and 3.7 acres of wetlands.
While Vineyard View is located outside the boundaries of the Incorporated Village of Greenport, the developers will pay a one-time hookup fee to the village to allow the project to be connected to the village sewer system.
Southold Town has issued a fact sheet answering many questions — who qualifies, what is considered affordable, the size of the apartments — according to Rona Smith, the chair of the town’s Housing Advisory Committee. The information comes from Conifer Realty, which, along with Community Development Corporation of Long Island, is the applicant on the project.
Conifer and CDCLI recently collaborated on the 45-unit Peconic Crossing affordable apartment project in Riverhead and had 941 people apply for 45 units. Ms. Smith thinks Vineyard View will have more than that.
The apartments in Vineyard View will be rent regulated and targeted to families priced out of the local marketplace, according to officials.
Rents will be monitored and set relative to income level.
The income ranges that qualify for the apartments are for those earning up to 50% of the Suffolk County Area Median Income, and those making 60% of the Suffolk AMI , which is calculated by looking at every income in Suffolk County and picking the one in the middle.
The AMI also differs depending on the size of the family, as will the rents.
For people in the 50% AMI bracket, 25 apartments will be available. The maximum income for a one-person house would be $40,850.
Likewise, the maximum income is $46,700 for two people, $52,500 for three people, $58,350 for four people and $63,000 for five people.
There will be 25 apartments available for people in the 60% AMI bracket.
The maximum income in these instances is $49,020 for one person, $56,040 for two, $63,000 for three, $70,202 for four and $75,600 for five people.
There will be 14 one-bedroom units that range in size from 686 to 707 square feet. The rents for these units will range from $909 to $1,117 per month, according to the town.
For the 22 two-bedroom apartments, the square footage will range from 850 to 884 and the projected rent will range form $1,094 to $1,344 per month.
And lastly, for the 14 three-bedroom units, the rent will run from $1,264 to $1,552 per month and range from 1,101 to 1,211 square feet.
“Grants for construction are becoming rarer and, with grants and financial incentives that are available, apartments give us the biggest bang for our buck,” Mr. Russell said. “Plus, most people currently on our registry are simply not in a position, financially or otherwise, to buy. Providing new affordable rental opportunities allows our young workers to stay, and multi-generational projects provide opportunities for people of all ages to continue to live in the town. It is a small first step to address the shortage town-wide.”
Ms. Smith said the Housing Advisory Committee is in charge of making sure that the tenants meet income eligibility requirements.
A list of interested people will be compiled, they will be screened to see of they meet income criteria, and then a list of eligible applicants will be compiled, according to the town.
Shortly before the completion of construction, a lottery will be held, which will set the order by which applicants will be screened.
Anyone seeking to be included on the town’s affordable housing registry should email Denis Noncarrow at [email protected].