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Over $260 million has been awarded to 29 housing developments across the state through tax credits and subsidies meant to create or preserve over 1,800 affordable and sustainable homes, Gov. Kathy Hochul announced Monday, March 18.
The projects will upgrade and modernize public housing and further local economic development initiatives, according to the governor’s office. Each one includes sustainable features meant to advance the state’s climate goals.
“The only way to address New York’s housing crisis and bring down costs for families is to keep building and preserving homes in every region of our state,” Hochul said.
“With this funding, we are pushing forward with our agenda to unlock New York’s housing potential, and we will keep working closely with the legislature to ensure that all New Yorkers have access to safe, stable, and affordable homes.”
In all, $56 million in federal and state low-income housing tax credits will be allocated to the projects, along with another $204 million in subsidies.
Each development will meet sustainability standards set by the New York State Climate Leadership and Community Protection Act, and offer free broadband internet services to residents, Hochul’s office said.
New York’s housing shortage often makes it hard for families to find desirable homes in vibrant communities, said RuthAnne Visnauskas, New York State Homes and Community Renewal commissioner.
“The $260 million announced today is part of our $25 billion housing plan and will result in affordable, supportive, energy efficient homes that improve the lives of more than 1,800 individuals, families, and vulnerable New Yorkers, while strengthening communities in every region of the state,” she said. “We look forward to seeing these 29 developments come to life.”
The funding will benefit the following housing projects:
Albany County
Albany – $5.4 million for Clinton Square Studios, a 57-unit, mixed-use development including exhibition space for artists, and temporary housing for performers of the Capital Repertory Theatre.
Albany – $8.7 million for Colvin Avenue Apartments, a 63-unit, mixed-use development that will offer 11 apartments serving people experiencing homelessness, as well as commercial space.
Colonie – $9.4 million for The Haven at Latham, a 65-unit, mixed-income development featuring 10 apartments with on-site supportive services for veterans with disabilities.
Dutchess County
Poughkeepsie – $8.6 million for Admiral Halsey Senior Village I, a 72-unit second phase of Admiral Halsey with half of the apartments serving seniors in need of supportive services.
Rhinebeck – $5.4 million for Locust Hill, 80 apartments across four newly constructed buildings.
Greene County
Tannersville – $10.6 million for the Cold Spring, a former hotel that will be demolished and replaced with a 56-unit workforce housing development, including 15 units for senior housing.
Nassau County
Rockville Centre – $7.5 million for Rockville Manor, aimed at preserving and expanding an existing Rockville Centre Housing Authority development for seniors.
Putnam County
Carmel – $4.6 million for Reservoir Place, a five-building, 75-unit development built on vacant land next to the Hamlet at Carmel project.
Suffolk County
Brookhaven – $13.2 million for Medford Gardens, with 67 apartments for New Yorkers 55 and older, including 33 supportive units.
Ulster County
New Paltz – $6.6 million for Harmony Hall, a 51-unit project that will serve residents 62 and older.
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