Oak Leaf 2 is a 25-unit senior community located at 24 South Street on the same campus as Oak Leaf Terrace, a short walk from the center of Freeport. Residency is limited to those 55 and over with incomes at or below 60% of the Area Median. The property has 22 one-bedroom units and 3 two-bedroom units, half of which are fully handicapped accessible. An on-site Resident Services Coordinator initiates community activities and provides residents with assistance connecting with resources available in the greater community.
Oak Leaf 2 was developed by Freeport Housing Trust in 2012, using the Low Income Housing Tax Credit (LIHTC) program. To allow investors to take advantage of the tax credits, Oak Leaf 2 is owned by a limited partnership. The General Partner is FHT Holdings, Inc., a non-profit corporation set up and controlled by FHT to own and operate LIHTC projects. The Town of Freeport helped make the project possible by providing extra land from an abutting tax-acquired property and by setting up an Affordable Housing Tax Increment Financing District.