Great Neck Plaza officials voted to approve a set of regulations and rent levels for three workforce housing units at the Galleria at 5-9 Grace Ave. last Thursday, a sign that the mixed-use building will soon be allowed to rent its apartments.
Hooshang Nematzadeh, a Great Neck developer and Kings Point trustee, opened a four-story, 30-unit apartment complex about five years after first securing a building permit in 2013.
Richard Gabriele, the village attorney, said that under the agreement with Nematzadeh, the three affordable units – a two-bedroom unit and two one-bedroom units – can be rented only to people with a household income between 50 and 100 percent of the average income on Long Island area as determined by the U.S. Department of Housing and Urban Development.
This translates to $1,527 for a one-bedroom apartment and $1,878 for a two-bedroom apartment.
Gabriele said the agreement had been under discussion for about six months because it was apparent the developers would get their certificate of occupancy for the Galleria soon, meaning they can rent the apartment units.
“They have a couple of little things to clear up with the Building Department,” Gabriele said.
Gabriele also said that the Long Island Housing Partnership is working with the developer to make sure he complies with regulations and the agreement over the affordable housing units.
Joseph Gallo, a representative of the housing group, confirmed that it will be ensuring compliance. The group will also accept applications for the unit, manage the marketing and then hold a lottery for the units, he said.
From there it will get more detailed information and work to fill the vacant apartments, Gallo said.
“I would anticipate that there would be a lot of applications,” Gallo said.