NY State's $37.2 Million Move to Increase Housing Opportunities in the Mid-Hudson Valley
05/14/18 AT 10:45 AM
Part of $200 Million to Build and Preserve Nearly 2,800 Affordable Apartments Across the State
Governor Andrew M. Cuomo today announced that $37.2 million has been awarded to seven affordable housing developments in the Mid-Hudson Valley that will create or preserve 486 affordable homes. The funding is part of more than $200 million the state is awarding to build or preserve more than 2,800 affordable apartments across New York's 10 regions, revitalize communities, and generate $1.1 billion in economic activity.
"This investment is a significant milestone in New York's $20 billion housing and homelessness plan, and a giant step forward in our efforts to increase access to homes for families, seniors and our most vulnerable men and women across the state," Governor Cuomo said. "These resources will help the region build affordable, stronger, better neighborhoods for our residents for generations to come."
The Governor's commitment to providing all New Yorkers with access to safe, affordable housing is reflected in the state's unprecedented $20 billion, five-year Housing Plan. The plan makes housing accessible and combats homelessness by building and preserving 112,000 units of affordable housing, and 6,000 units of supportive housing. The plan is a comprehensive approach to statewide housing issues and includes multifamily and single-family housing, community development, and rent stabilization.
The funds were available through New York State Homes & Community Renewal's 2017 Unified Funding Application, a streamlined process to apply for Low Income Housing Tax Credits and low-interest loans for affordable, multifamily developments. Projects are funded in every region of the state.
RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal said, "Today's announcement is another concrete example of Governor Cuomo's commitment to investing in affordable housing that not only provides quality homes to people who need them, but also addresses the crisis of homelessness, makes downtowns come alive with opportunity, and improves quality of life throughout the state. By delivering affordable homes to the Mid-Hudson region, we continue to grow the region's economy."
The awards announced today for the Mid-Hudson Valley region will:
Construct New Mixed-Income, Energy-Efficient Homes in the Mid-Hudson Valley
$6.3 Million for RUPCO Energy Square, Kingston, Ulster County. This is the new construction of a 57-unit mixed-income, mixed-use building in a mixed-use neighborhood, including nine units for persons who are homeless, seven of which will receive services and operating subsidies through Governor Cuomo's Empire State Supportive Housing Initiative. Energy Square was also awarded $1 million in NYSERDA funding and will incorporate technologies and energy savings features that will enable it to achieve Net Zero energy performance, making the project capable of producing as much energy as it uses.
$4.5 Million for West End Lofts, Beacon, Dutchess County. The development is the new construction of a mixed-income, transit-oriented development consisting of two buildings and 73 affordable apartments for middle income families and individuals, including 11 units for persons with physical disabilities/traumatic brain injury. The workforce family development is in close proximity to the City of Beacon's Metro-North train station.
Revitalize Middle Main Neighborhood in Poughkeepsie
$4.4 Million for Fallkill Commons on Rose, Poughkeepsie. The newly constructed development is part of the Middle Main Initiative to revitalize the City of Poughkeepsie's Middle Main neighborhood and is a priority of the Mid-Hudson Regional Economic Development Council. The development will transform eight dilapidated parcels into 78 affordable homes in a walkable community with easy access to transit, retail and other amenities. Thirty-nine of the apartments will serve formerly homeless individuals who will receive services and support through Governor Cuomo's Empire State Supportive Housing Initiative.
Break Down Barriers to Opportunity
$5.2 Million for Lewisboro Commons, Westchester County. The 42-apartment development will accommodate families and individuals in a residential neighborhood with many outdoor amenities. The development is close to a main thoroughfare and the Metro North Goldens Bridge train station, providing direct access to multiple areas of employment. Lewisboro Commons is being built in an area that has low poverty, access to good jobs, and is served by high-performing schools.
Tackle Homelessness with Supportive Housing
$6.3 Million for Isabella Apartments and $6.3 Million for Golden Ridge II Apartments, Village of Monticello. These two newly constructed developments are the second and third phases in a larger four-phase master development in this Sullivan County community. Each development will offer 81 residential units and each will include 25 supportive apartments for formerly homeless individuals who will receive services and support through Governor Cuomo's Empire State Supportive Housing Initiative.
Increase Housing Opportunities for Seniors
$4.1 Million for Hillcrest Commons Phase II, Town of Carmel. The newly constructed development offers 74 apartments for mixed-income seniors age 55 and up. Hillcrest Commons is being built on vacant land in a rural area in need of senior housing. The development is near services including a grocery store, pharmacy, retail and public transportation.
A full list of funding awarded statewide is available here.
Senator Betty Little, Chair of the Senate Housing, Construction and Community Development Committee said, "These affordable housing awards, made in diverse geographic regions throughout our state, represent a public and private commitment beyond bricks and mortar. It is a commitment to fostering personal well-being and economic opportunity. By creating and preserving affordable housing, we also invest in the villages, towns and cities that make up our state. I commend the Governor, NYS Homes and Community Renewal and my colleagues in the Legislature for their commitment to funding affordable housing in our State budget."
Assemblyman Steven Cymbrowitz, Chair of the Assembly Housing Committee said, "All New Yorkers, regardless of income, should have access to housing that is safe, affordable and comfortable. The awards announced today will bring high-quality homes with access to jobs, health care, green spaces, and transit to every region of the state."