The Real Estate team advised Heatherwood Communities, LLC as the selected developer for a transformative mixed-income residential project on State-owned land on Conklin Street in East Farmingdale, Suffolk County by New York Governor Kathy Hochul. The more than $200 million proposed development would deliver approximately 495 new residential units — including over 100 affordable homes for households earning an average of 80 percent of the Area Median Income — on an approximately 13-acre site that has sat vacant and blighted for decades. The development is slated to feature a mix of studio, one-, two-, and three-bedroom rental apartments, as well as townhouse units, in buildings up to five stories.
Heatherwood Communities is a Long Island-based developer with 75 years of experience and more than 14,000 residential units built across Nassau and Suffolk counties. As Long Island's second-largest owner of multifamily housing, Heatherwood brings significant expertise in brownfield remediation and a proven track record of long-term property ownership and management.
The Goodwin deal team was led by Brian Lerman and Reade Everett.
For more information on the deal, please read the press release.