New York, NY – July 5, 2013 – (RealEstateRama) — Nassau County Executive Edward P. Mangano and the Nassau Industrial Development Agency (NCIDA) announced today the approval of an economic development compact that assists in paving the way for revitalization of downtown Westbury. The compact allows MPA Owners, LLC to demolish two rundown buildings located on Post Ave. in Westbury and construct a new 20,700 square-foot building with 10 one-bedroom rental apartments and four stores.
County Executive Mangano stated, “This project not only helps in revitalizing downtown Westbury, but also improves the quality of life and spurs economic development in the village while increasing the availability of rental apartments which are in short supply and high demand.”
The project will generate economic benefits to the county of $1.8 million for the local economy. The project is expected to result in the creation of at least four full-time equivalent construction jobs and three permanent jobs.
County Executive Mangano has made it a priority to create new ways in which to assist families, seniors, and young adults with housing options. Since taking office, County Executive Mangano and Nassau County’s economic develop team have created 970 new rental opportunities in Nassau County.
About the Nassau County IDA
The Nassau County Industrial Development Agency consists of a team of professionals whose mission is to promote the economic welfare and prosperity of Nassau County. It is a resource for businesses in Nassau County and those considering relocation. The IDA provides assistance to businesses interested in relocating, expanding and financing new investments. It has provided assistance to a wide range of companies, from Arizona Iced Tea and Sleepy’s Mattress to Cold Spring Harbor Labs and Grumman Studios. For more information, please visit www.nassauida.org or call 516-571-1945.