March 2, 2026
Hudson Valley Property Group bought a 420-unit Hempstead apartment complex for $107M, planning $23M renovations. Hempstead schools also broke ground on a $42.3M middle school upgrade.
Hempstead's **major construction projects** heat up as Hudson Valley Property Group closes a $107 million deal for the 420-unit apartment complex at **100 Terrace Avenue**. This marks the firm's first Nassau County property, with $23 million in renovations underway to modernize kitchens, bathrooms, elevators, and the parking garage while boosting security with high-resolution cameras[1].
The full $145 million project, financed by Hudson Valley Preservation Fund and a Fannie Mae loan from KeyBank, renews a HUD Section 8 contract to keep rents affordable for working families. "We're committed to ensuring these 420 homes remain safe and accessible," said Jason Bordainick, co-founder of Hudson Valley Property Group. Town of Hempstead Industrial Development Agency incentives support the work, including refurbishing the Hempstead Police Department substation[1].
Nearby, Hempstead Union Free School District broke ground on a $42.3 million modernization at **Alverta B. Schultz Gray Middle School**. The project adds classrooms, a library, cafeteria, soccer and baseball fields, and a running track, ending decades of portable classroom use. Voter-approved in 2022, completion targets the 2027-28 school year. "This is transformation for our children," said Board President Jeffrey Spencer[2].
Consigli Construction leads the new high school for **Evergreen Charter School** in Hempstead, featuring 30 classrooms, labs, a gym, green roof, and mass timber for LEED Gold standards. It serves grades 7-12 amid enrollment growth[4].
These Hempstead projects preserve housing and boost education. Stay updated on Long Island development—explore more at LI Daily.
