Golden housing, officially known as Golden Age Housing in the Town of Hempstead, refers to a specialized housing initiative designed to provide affordable living options primarily for senior citizens. This program is facilitated through a unique zoning approach known as the Golden Age zone classification.
How Golden Age Housing Works
The Golden Age Housing program offers a mutually beneficial arrangement for both private developers and senior residents within the Town of Hempstead:
- Incentive for Developers: Under the Golden Age zone classification, private developers are permitted to construct a greater number of units per area than what is typically allowed under standard zoning regulations. This increased density provides a strong incentive for developers to undertake these projects.
- Benefits for Residents: In exchange for these zoning allowances, developers agree to sell the apartments at prices significantly below the current market value. This makes quality senior housing more accessible and affordable.
- Financial Relief: A key feature enhancing affordability for residents is that all apartments within Golden Age housing developments receive a property tax abatement. This further reduces the overall cost of living, providing crucial financial relief for seniors.
The primary goal of the Golden Age Housing program is to promote and ensure the availability of much-needed senior housing options, addressing the specific needs of the aging population in the community.
Key Features of Golden Age Housing
| Aspect | Description |
|---|---|
| Official Name | Golden Age Housing |
| Primary Purpose | To promote and provide affordable senior housing |
| Zoning Mechanism | Utilizes a special "Golden Age zone classification" |
| Developer Benefit | Permits construction of more units per area than normally allowed, encouraging development |
| Resident Benefit 1 | Apartments are sold at prices well below the current market value |
| Resident Benefit 2 | All apartments receive a property tax abatement, reducing long-term housing costs |
For more detailed information, residents can explore the Hempstead Town's Golden Age Housing program.
