Projects Are Ready For Construction and Will Create 133 Affordable Homes
Washington, DC – December 09, 2015 – (RealEstateRama) — Governor Cuomo announced that New York State Homes and Community Renewal has awarded nearly $11.3 million in funding for the construction of three affordable housing developments across New York. Together, these shovel-ready projects will create a total of 133 new apartments for low- to moderate-income households in Monroe, Tompkins and Westchester Counties.
“Today we are continuing our commitment to build quality, affordable homes and create vibrant communities throughout the state,” Governor Cuomo said. “The Early Award process cuts through bureaucratic red tape and gets shovels in the ground quickly, so that families looking for affordable homes are not left waiting in the wind.”
Each of the three projects was funded via the Early Awards program, part of HCR’s Unified Funding Application, a single-source, streamlined process to apply for several funding streams for affordable, multifamily developments. Applications were submitted only six weeks ago.
Early Award projects must demonstrate the project will be able to proceed to construction within 120 calendar days of award, or within 150 days of award, if located in the City of New York. As part of the process, applicants with shovel-ready projects that support state housing goals of revitalization, economic development, mixed-income and mixed-use development, workforce housing, and affordable housing preservation received an accelerated application review.
James S. Rubin, Commissioner of New York State Homes and Community Renewal said, “We are moving very quickly to get results for the people of New York State when it comes to addressing the shortage of affordable housing and injecting new life into communities. HCR’s Early Awards process is faster than ever – we reviewed and moved to approve these three developments in the space of a month. This accelerated process provides a new way for high-quality projects that meet important community needs and get in the ground very quickly. Governor Cuomo has charged us with being more efficient and creative in our efforts to improve quality of life for New Yorkers and we are excited to see the projects announced today move forward.”
The three projects announced today are:
Heritage Homes Phase 3, Westchester County
Public Housing Redevelopment
The $17.9 million project is the third and final phase of the redevelopment of the Robert Hartley Houses public housing project in the City of New Rochelle. This phase of the project will demolish and remove substandard public housing on the site resulting in 41 new rental units for low-income families.
HCR will invest $2.2 million from the New York State Low-Income Housing Trust Fund program and $872,000 in Low-Income Housing Tax Credits, leveraging loans from CITIBANK and the New Rochelle Affordable Housing Trust Fund, as well as New York State Energy Research and Development funds.
The apartments will be affordable to low-income households at or below 60 percent of area median income.
Hancock Street Redevelopment, Ithaca, Tompkins County
Mixed-Use, Mixed-Income Revitalization
This nearly $20 million Early Award mixed-income, mixed-use revitalization project will construct 59 new apartments affordable to households earning between 27 percent and 105 percent of Area Median Income. Additionally, two underutilized buildings will be demolished, and a Head Start facility and commercial office suite will be developed.
HCR will provide $2.6 million from its Middle Income Housing Program, $1 million from the Community Investment Fund as well as State and Federal Low-Income Housing Credit Programs in the amounts of $500,000 and $1.03 million respectively. These investments will help leverage loans from the Community Preservation Corporation, the Ithaca Urban Renewal Agency, and Tompkins County.
The Early Head Start facility will be operated by Tompkins Community Action a non-profit community development organization. It will provide early education to 30 low-income children between the ages of 0 and 3. The Head Start program also provides nutrition, wellness, and parenting classes to low-income families.
In addition, two city streets will be reconstructed to eliminate automobile traffic and create a playground and bike/pedestrian path connecting the site to a larger bike/pedestrian network that will link the neighborhood to the six-mile Cayuga Waterfront Trail – a major tourist, recreational and economic development asset in the region. The Cayuga Waterfront Trail connects two state parks with the Ithaca Farmer’s Market, a municipal golf course, the Cornell and Ithaca College boat houses, restaurants, and shopping opportunities.
Crerand Commons Phase II, Monroe County
Housing Opportunity
This $9.6 million Early Award Housing Opportunity project involves the new construction of six townhouse apartment buildings with 33 rental units that will be affordable to families earning between 30 percent and 60 percent of the Area Median Income.
HCR funding for this project will be provided through $2.4 million from the NYS Low-Income Housing Trust Fund and $685,012 in Federal Low-Income Housing Tax Credits, which will leverage loans from Monroe County and the developer.
Consistent with the Housing Opportunity goal, the project will be served by the high-performing Spencerport School District and is in close proximity to public transportation, child care, and employment opportunities. The project will be designed to comply with all the energy efficiency requirements of the NYSERDA Low-rise Residential New Construction Program, as well as the 2015 Enterprise Green Communities building program requirements.
Senate Democratic Leader Andrea Stewart-Cousins said, “New York has always been a State where people from all walks of life can set down roots and build strong, stable, and diverse communities and that fact has helped make New York the Empire State. The transformation of the outdated Hartley Houses in New Rochelle is giving new and former residents a safe and affordable roof over their heads. I’m proud to vote in favor of state funding that make projects like this one a reality.”
State Senator Joseph E. Robach said, “It is truly great to see this project being supported by HCR’s Low Income Housing Trust Fund. Crerand Commons Phase II will provide much needed and affordable rental units in the Town of Gates, allowing families the opportunity to live in new, state-of-the-art townhouse style apartments. Pathstone Development Corporation has always provided quality housing for Rochester-area residents, I am certain that Crerand Commons Phase II will be no different.”
State Senator Thomas F. O’Mara said, “We appreciate this HCR assistance to help address the need for new affordable housing and community renewal within the city of Ithaca. It’s critical assistance that will improve the quality of life for local families and neighborhoods, strengthen the local economy, and lay a foundation for long-term revitalization.”
Assemblywoman Barbara S. Lifton said, “I am glad to see state funding coming to provide high-quality affordable housing in Ithaca. This project will strengthen the neighborhood by taking a vacant one-story structure surrounded by a large surface parking lot and converting it into a mixed-use residential housing project that is located close to downtown Ithaca and city parks. Moreover, it will fulfill a dire need in our community – providing quality affordable housing. As rents and housing prices have increased in recent years, Ithaca residents are being forced out of the city, as they can no longer find an affordable place to live. This is a project that has the potential to make a meaningful impact on people’s lives.”
Assemblywoman Amy Paulin said, “I thank all of the partners who have come together to renew and restore this critical public affordable housing resource. This phase of the project has leveraged significant private investment that will allow our scarce public sector resources to go further. This fulfills a key goal of the Governor and HCR in the overall initiative to restore public housing statewide.”
These latest awards are part of the $200 million Unified Funding Round that Governor Cuomo announced in July.
Contact the Governor’s Press Office
NYC Press Office: 212.681.4640
Albany Press Office: 518.474.8418
Contact us by email:
press.office (at) exec.ny (dot) gov
