An affordable housing development that Hamptonites have long dreaded may finally become a reality.
Last week, the East Hampton Town Planning Board reviewed a proposal that would house 16 units at 395 Pantigo Road, the East Hampton Star reported.
Situated on 12 acres, records obtained by The Post show the town purchased the vacant land for $2.5 million in October 2020.
The housing project would take up 5 of those 12 acres.
If approved, this would mark the third affordable housing development in the works in the posh beach town, long known as a popular destination among the city’s elite.
There’s a pending project at Three Mile Harbor Road that will yield 50 affordable apartments by 2024, and 50 rental homes are slated on Route 114, across from the Sag Harbor Golf Course.
On Pantigo Road, the land that each house is on would be leased for 99 years from the town — and not owned by homeowners.
“We find when the property owner is the buyer, we lose control of property and lose affordability completely,” said Francis Bock, the housing tech for the town.
He told the board the ownership model was based on Green Hollow, the last affordable housing subdivision, which the town built in 2008.
“We allow them to do improvements on those homes with permission, and when we go to repurchase, they will get full recovery of those improvements,” he said.
Due to special zoning regulations, affordable housing in the town is very limited.
In this recent proposal, the average home size will be 1,500 square feet, with the smallest landing under 1,100.
“It’s a milestone to get to this portion of the project,” council member David Lys, who was tasked with overseeing the development, told the Real Deal, adding that he hoped to see construction on the road begin in the summer.