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Affordable project enters third phase.

Construction has begun for new affordable homes on Holland Avenue in Staten Island, announced Leewood Real Estate Group, the project's developer.

Known as Heron Pond III, the ten-home development is the third phase of new affordable housing in this neighborhood targeted to middle-income families.

The homes combine afford-ability with luxury amenities such as closet space, private back yards and off-street parking. They start at $289,000 and potential homeowners should have a minimum annual income of at least $55,000.

Qualified homeowners will be eligible for a 421 (b) tax exemption, providing for partial real estate tax abatement. The homes will be ready for occupancy in summer 2004.
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Title Annotation:Residential Construction News
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 31, 2003
Previous Article:Sporting chance for building plan.
Next Article:2003 a record year for residential construction.

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