NYCOM Conference, Ribbon Cuttings and Equity Fund Forum Highlight Trip to Finger Lakes Region

Albany, NY - May 8, 2009 - (RealEstateRama) — Although her English is broken, Irene Bahiga spoke eloquently about the importance of affordable housing during a ribbon cutting ceremony to mark the opening of Olean Heights, 32 mixed income rental units in Rochester.

Irene talked about the difficulties she and her husband faced in finding safe, decent housing for themselves and their four children. Since emigrating from Africa, life had been difficult for the family but turned around when they were accepted into Olean Heights. With her voice cracking and eyes welling with tears, Irene talked about the smiles on her children’s faces and the success they’ve enjoyed in school since moving to their new, safe and stable home. “This place has been the answer to our prayers,” she said.

Commissioner VanAmerongen then took the podium and noted that Irene’s moving story would be difficult to follow. She pointed out that while she herself often speaks about “the ability of affordable housing to transform communities, Irene’s story shows us that it can transform lives as well.”

The celebration at Olean, sponsored by developers Rochester’s Cornerstone Group and Providence Housing Development Corporation, was also attended by the City of Rochester’s Commissioner of Community Development, Julio Vazquez, State Senator Joseph Robach, Tom Van Nortwick, director of DHCR’s Buffalo Regional Office, City Council members Gladys Santiago and Dana Miller and Jeane Lowe, president of the Greater Rochester Housing Partnership. Roger Brandt, president of Rochester’s Cornerstone Group hosted the event, and Monica McCullough, executive director of the Providence Housing Development Corporation delivered closing remarks.

The Olean Heights ribbon cutting was just one event in a whirlwind visit to the region for the commissioner, who began the day by delivering opening remarks at the well-attended NYCOM conference in Canandaigua.

VanAmerongen announced that DHCR’s departmental bill to improve the agency’s Main Street program has been introduced in both houses of the legislature. The changes would make the program more effective by expanding eligibility to local governments and increasing maximum award from $200,000 to $500,000.

DHCR staff played key roles at the NYCOM conference — Deputy Commissioner Joe Rabito, Assistant Commissioner Lori Harris, NY Main Street Program Director Chris Leo and Community Developers Patricia Walsh and Maureen Palumbo all participated in workshop sessions.

From Canandaigua, the commissioner travelled to the Village of Lyons in Wayne County for the opening of Canal View Apartments, a beautiful 36 unit complex for seniors, which looks out to the historic Erie Canal. Stuart Mitchell, president and CEO of the developer, Pathstone Corporation, hosted the event, which was attended by State Assemblyman Robert Oaks, Village Trustee Terry VanStean, Stephen Karnath of National Equity Fund which helped finance the project, and a representative of Congressman Dan Maffei.

From Lyons, it was off to Rochester for the Olean Heights ribbon cutting. First though, the commissioner participated in a forum with business, government and civic leaders on the recently-developed Upstate Equity Fund which will help developers seeking private investment to build affordable housing in Upstate communities.

Commissioner VanAmerongen developed the fund with help from several partners, including NYSAFAH and Great Lakes Capital Fund (GLCF) which is administering the fund. She was joined by Jim Logue, regional president of GLCF, to discuss how the fund can benefit both the investors and developers of affordable housing. The Rochester forum was the sixth in a series the Commissioner has attended across Upstate New York.

After the forum and the Olean Heights ribbon cutting, the Commissioner headed back to New York City, the end of a hectic but productive day.

Tagged as: DHCR, NYCOM, Rochester

 

 

 

 

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