The Real Estate Institute at Stony Brook University’s College of Business conducted a study where they followed 14 multifamily developments in 10 different school districts across Nassau and Suffolk counties.
The study found that, over the last decade, new developments:
- Accounted for 3,928 units of housing.
- Produced only 313 new students (1 student per 10 housing units).
- Were tax-positive for their communities.
- Brought in occupants that lead to new property and school taxes and took advantage of the school at a much lower rate than single-family occupants.
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A study comprising 1,805 online surveys of adults between the ages of 18 and 34 was recently conducted. Among other things, the study found that
- More than 2 in 3 Long Islanders either rent or live in the home of a relative, most in single-family homes.
- 67% plan to move away from Long Island for more affordable housing.
- Long Island lags behind New York City and New York State in rental occupancy.
- 87% want to live in a place that supports small business and independent stores.
- 85% want to live close to a vibrant and pedestrian-friendly downtown.
- 74% stated that they prefer living in a place that is known for being artistic and creative.
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