Project Detail

Metro 303

Developers: Mill Creek Residential Trust, LLC
Project Cost: $42,000,000

"This development would not have been possible without the assistance of the Hempstead IDA. Through the IDA's economic benefits program, we were able redevelop a vacant, former car dealership site into a new, vibrant apartment community. The $42 million investment into the community is also yielding further community benefits in the area via job creation/employment, increased consumer spending, and increased taxes, as well as kick-starting the Main Street redevelopment in Hempstead."

Maria Rigopoulos
Managing Director, MCRT

Description

Metro 303 is a new apartment community, currently under construction on a 2-acre infill site located at the northern end of the Village of Hempstead, bordering the Village of Garden City. The community will consist of 166 apartment homes in one 5-story podium-style building; approximately 5,000 square feet of leasing and amenity space; and garage parking. The community will feature amenities such as an inviting resident lounge with fireplace, game area, caf

Benefits

PILOT Agreement, Sales Tax Exemption for the construction period, Mortgage Recording Tax Exemption