Park Lake Apartments - Hempstead, NY

Park Lake- Exterior 1.JPG

Omni acquired the property in December 2005 with financing provided the Town of Hempstead Industrial Development Agency bonds and the New York State Division of Housing and Community Renewal (HCR) Low Income Housing Tax Credits. It underwent a 236 Decoupling upon acquisition and extended the Project Based Section 8 contract for 20 years.

A $9.9 million rehabilitation of the property was completed in 2006.