Local Investment Complements ‘Central New York Rising’ – Region’s Successful Upstate Revitalization Initiative Blueprint to Grow The Economy and Create New Opportunities
WASHINGTON, DC – (RealEstateRama) — Governor Andrew M. Cuomo today announced the grand opening of the $7.5 million Riverview Apartments development in the City of Cortland. The two-story, 39-unit building provides affordable housing for low-income families and for individuals in need of behavioral health services.
“Every New Yorker deserves to have a safe, decent and affordable place to call home and this new development in Cortland will help ensure some of the most vulnerable among us have access to housing, as well as the resources and services they need,” Governor Cuomo said. “With the completion of this project, we are one step closer to a more fair and more humane New York for all.”
Riverview Apartments, located at 6-10 Riverview Avenue in a newly constructed 17,306 square-foot building, was development by Catholic Charities of Cortland County and Christopher Community Inc. The new apartment building includes nineteen units for low-income individuals and families. Twenty units will be occupied by residents receiving emergency support through Catholic Charities and behavioral health services, including case management, peer support, and linkage to home health providers.
Funding for the project includes:
- $3.4 million in Low Income Housing Tax Credits through Enterprise Community Investment;
- $3.5 million loan from the Community Preservation Corporation;
- $476,288 from the New York Housing Plan Fund; and
- Annual financial support for building operations and building operations debt service on the CPC loan from the New York State Office of Mental Health.
The building includes a central entrance with round-the-clock monitoring, a community room with kitchen, and offices for management and support services. The apartment building is also equipped with an elevator and laundry rooms on each floor, and space for outdoor parking. The building complies with Enterprise Green Communities criteria and includes Energy Star appliances. In addition, all apartments are handicapped accessible.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “There is no one-size-fits-all approach to attacking the housing crisis across the State. My colleagues and I at HCR are committed to working with our public, private and not-for-profit partners to deliver on Governor Cuomo’s mandate to provide better access to more affordable and supportive housing to New Yorkers in need. Riverview Apartments will enhance the quality of life for its new residents while strengthening the community. Welcome home!”
New York State Office of Mental Health Commissioner Anne Marie Sullivan, M.D., said, “OMH is proud to support The Riverview Apartments project and work with our partners, Catholic Charities of Cortland, Christopher Community and NYS Homes and Community Renewal. By advancing Governor Cuomo’s agenda to provide quality treatment and services for persons living with and recovering from mental illness, Riverview will allow its residents to achieve independence and success with the support and assistance they need.”
Senator James L. Seward said, “Creating affordable housing opportunities for our low-income and most vulnerable individuals strengthens our communities and serves a critical public health need. This new complex will meet a critical need while further enhancing the quality of life for those who live and work in Cortland. My congratulations to Christopher Community and Catholic Charities on reaching this milestone day and thanks to Governor Cuomo for his support.”
Assemblywoman Barbara Lifton said, “I’m very proud of the role that I and the Assembly Majority have played in making the Riverview Apartments a reality, as well as the strong stance that the Assembly Majority has always taken in support of state funding for housing initiatives. This project will have a very positive impact on the City of Cortland and its residents, providing safe, affordable and accessible housing for some of our most vulnerable citizens, who strive to live independently in the community. Thanks also to Governor Cuomo, Christopher Community and Catholic Charities for their steadfast commitment to improving the lives of people in Central New York.”
City of Cortland Mayor Brian Tobin said, “Riverview Apartments is a concrete example of what can be achieved when the Governor’s team and public, private and non-profit partners focus their talent and expertise on an important project. Riverview provides a safe and dignified place to live independently, while adding vitality to the surrounding community. My thanks to all who made this happen.”
Bishop of the Diocese of Syracuse Most Reverend Robert J. Cunningham said, “It is a pleasure to join our partners in offering congratulations and best wishes to all those involved in the development of the Riverview Apartments. The New York State Homes and Community Renewal, the New York State Office of Mental Health, the Community Preservation Corporation and the Enterprise Community Investment Group have all partnered with Catholic Charities of Cortland County and Christopher Community in providing this 39 unit housing complex, providing proper housing for the people in our community. This has been a challenge, but the completion of this project is a blessing. I am grateful for the partnership that provided this housing and I wish all who will be moving in and living here, both now and in the future, health and happiness in their new home.”
Christopher Community, Inc. President Douglas Reicher said, “We are very excited to be opening a new building in Cortland that will provide affordable housing for the community. Not only does it fill a real need for decent, safe, affordable housing but also provides a real anchor for neighborhood revitalization on the street.”
Community Preservation Corporation President & CEO Rafael E. Cestero said, “The Riverview Apartments and its mission of support for people with mental illness highlights the positive effect that stable, permanent housing can have on the lives of individuals in need. Projects like this help to anchor communities and provide services that allow its residents to reach their potential and live independently in a compassionate environment. CPC is proud to partner with Christopher Community, Governor Cuomo, Homes and Community Renewal and the Office of Mental Health to bring this resource of affordable housing to the Cortland community.”
Enterprise Community Investment VP of Syndication Tom Eastman said, “A well-designed home that is made affordable and connected to health care creates opportunity for the most vulnerable people in our communities. Enterprise is excited to continue our partnership with Christopher Communities, the State of New York and Community Preservation Corporation to complete Riverview Apartments.”
Accelerating Central NY Rising
The development of Riverview Apartments supplements “Central New York Rising,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested nearly $3 billion in the region since 2012 to lay the groundwork for the plan – capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down and businesses are choosing places like Syracuse, Oswego and Auburn as a destination in which to grow and invest.
Central NY Rising is moving forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will encourage private business to invest well over $2.5 billion—and the region’s plan, as submitted, projects up to 5,900 new jobs. More information is available here.
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