Andpress Plaza Apartments are located in the Long Island town of Babylon, NY. Built in 1983, Andpress Plaza has provided affordable housing to the residents of Babylon and Amityville, NY for more than 30 years through the Section 8 Housing Assistance Program (“HAP”) administered by the Department of Housing and Urban Development (“HUD”). With this project Hudson Valley Property Group and MDG Design + Construction will address Suffolk County’s significant affordable housing shortage by preserving 40 family and 10 senior units for years to come.

Utilizing 4% as-of-right Low Income Housing Tax Credits (“LIHTC”) from the New York State Housing Finance Agency (“HFA”) and a private placement of Tax Exempt Bonds from the Babylon Industrial Development Agency (“IDA”), Hudson Valley-MDG plans to invest $1.75M to renovate the property. Residents’ kitchens and bathrooms will be modernized to improve quality of life and will include new flooring, cabinetry, appliances, sinks and shower units. Site work will be completed to increase safety, security, and aesthetic quality. Currently, 98% of the residents receive rental assistance from HUD. The existing Section 8 HAP contract will be renewed under the Mark up to Market program, extending the project based subsidy for an additional 15 years while ensuring the property remains financially sustainable for years to come.

Andpress Plaza represents Hudson Valley-MDG’s first project in Suffolk County, a region with significant demand for affordable housing. Ken Oppenheimer, a current owner and Andpress Plaza’s property manager has partnered with MDG in the project, bringing more than 30 years of management experience and knowledge of the site. Both the local IDA and the State HFA have greeted the project enthusiastically and the Town of Babylon has provided a 12 year Payment in Lieu of Taxes (“PILOT”) tax abatement in support.

All photos are post-renovation, 2016.
Photo credit: Josh Mak Photography

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