$5M in State Grant Awarded to Village of Hempstead For Downtown Redevelopment

by 13 Dec 2011
[caption id="" align="alignleft" width="300" caption="$5M in State Grant Awarded to Village of Hempstead For Downtown Redevelopment"]$5M in State Grant Awarded to Village of Hempstead For Downtown Redevelopment[/caption] ~State Aid Will Support Major Downtown Redevelopment Project, Rebuilding of Aging Sewer Infrastructure, and Create Thousands of Local Job Opportunities ~ New York, N.Y. (December 13, 2011)-A 5-member panel appointed by New York Governor Andrew M. Cuomo recently awarded Village of Hempstead, N.Y. $5million in state aid to fund Village of Hempstead’s downtown redevelopment project which includes plans to rebuild the Village’s antiquated sewer infrastructure.  This announcement comes on the heels of the Long Island Regional Planning Council (LIRPC) designation of the $2 Billion Hempstead mixed-use transit oriented development as a “Project of Regional Significance. “  “Projects of Regional Significance” are projects which can potentially affect the quality of life for Long Islanders in a regionally significant way in areas of economic development, housing, transportation, energy, environment, education, public health, emergency preparedness and social and economic equity. The redevelopment project is a Public-Private Partnership between Renaissance Downtowns-Urban America (RDUA) and the Village of Hempstead. “Since taking office, my administration’s focus has been on improving the economic vitality, safety and quality of life in the village, with an emphasis on job creation. The smart growth development of our downtown area is a major part of this commitment,” said Village of Hempstead Mayor Wayne J. Hall Sr. “The $5 million received for The Main Street Project will help us to achieve all of these goals, including the creation of 3,500 permanent jobs for residents in this tough economy.” “The $5million award reinforces the State of New York recognizes and supports the urgent need to redevelop downtown Hempstead, “stated Donald Monti, President and CEO of Renaissance Downtowns, designated master developer of the Hempstead redevelopment effort.  “We are excited and eager to move forward in working with the entire Hempstead community to create a shared vision of their downtown area, which is expected to include 3,000 mixed-income residential housing, retail space, main plaza and culture venues, as well as rebuilding of the archaic sewer infrastructure.  We envision breaking ground on the project within the next 5 months.” The $5million in state aid awarded to Village of Hempstead was part of Governor Cuomo’s $101.6million state-wide jobs aid initiative grant allocated to Nassau and Suffolk counties to jump-start the creation of employment opportunities in the region. Renaissance Downtowns is the branded leader in the holistic and comprehensive redevelopment of transit oriented, suburban downtowns.  Renaissance is master developer in 6 Northeast municipalities which represent over $8 Billion in development potential. Urban America is one of the nation's largest minority owned development companies. They have been pioneers in investing in urban locations that provide opportunities for economic and social benefits for the communities in which they work. Based in New York, NY, Urban has national reach along with extensive knowledge of the local real estate landscape.



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