Ten Shovel-Ready Projects Will Advance State’s Housing Goals & Generate $141 Million in Economic Investment
Albany, NY – December 23, 2013 – (RealEstateRama) — Governor Andrew M. Cuomo today announced 10 awards totaling $23.7 million to create or preserve high quality affordable housing and spur economic growth in regions around the state, awarded through New York State Homes and Community Renewal (HCR).
“Expanding the availability of affordable housing is an essential part of our mission to make New York’s communities stronger and healthier,” Governor Cuomo said. “This round of grant funding supports New Yorkers in need, providing homes for veterans, low-income families, the developmentally disabled, and individuals living with HIV/AIDS. These shovel-ready projects will bring high-quality housing to regions across the state and ultimately improve the lives of thousands of New Yorkers statewide.”
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These projects are aligned with the administration’s ground-up approach to state investment which prioritizes statewide affordable housing goals that are also regionally significant. In conjunction with last week’s Regional Economic Development Council Awards announcement, the awarded projects meet the stated goals by providing supportive housing, homes for veterans, and affordable units that meet public housing and housing opportunity goals. The projects also meet the state’s goal to preserve critical Mitchell-Lama and rural housing stock.
Darryl C. Towns, Commissioner/CEO of HCR said, “The awards announced today advance some of the Governor’s most important policy goals – supportive housing for veterans, preservation of Mitchell-Lama and rural housing, along with economic revitalization. Show us what you want to build. Show us how it’s going to help New Yorkers in very specific ways. And show us that you can deliver projects on time and on-budget – that’s what these awards are about. By April 2014, these projects will start construction. These awards are further evidence that together we can quickly and efficiently make a difference for families and our entire state.”
Awardees competed for funds through HCR’s Early Award competition, a single-source process to apply for different streams of funding for multi-family rental projects. As part of an expedited application and review process, submissions of projects were evaluated based on clearly defined criteria, including that they advance one or more of the state’s housing goals and are project-ready, with construction or rehab required to begin within 120 days of the award.
Project applicants submitted requests for one or more of the following funding programs: 9% Low Income Housing Tax Credits; State Low Income Housing Tax Credits; Low Income Housing Trust Fund; HOME; Urban Initiatives; Rural Area Revitalization Projects; and the Community Investment Fund.
The Early Award Round for 2013 reinforces the State’s housing goals, including:
RURAL PRESERVATION
- Fox Apartments (Village of Union Springs, Cayuga County, Central New York Region): $960,000 investment to preserve 32 affordable units, for seniors and two households with a member with a physical disability or traumatic brain injury. The project will generate more than $1.6 million in economic activity.
PUBLIC HOUSING
- Liberty Gardens 3 Revitalization (City of Rome, Oneida County, Mohawk Valley Region): $1.2 million investment to build and preserve 52 units, revitalizing public housing while driving $13.5 million in economic activity. The project is the third phase in the redevelopment and modernization of 180 units of public housing that will improve insulation, replace kitchens and bathrooms and make energy-efficient upgrades.
MIXED INCOME/MIXED USE REVITALIZATION
- Sheridan Hollow Village (City of Albany, Albany County, Capital Region): $3.6 million investment to create 57 rental units in 17 buildings as part of an effort to transform the Sheridan Hollow Neighborhood into a mixed-income, mixed-use sustainable community with affordable homeownership, quality rental housing, retail and commercial investments, streetscape improvements, enhanced public safety, and public park restoration. The project will spur $14.7 million in economic activity.
HOUSING OPPORTUNITIES
- Biltmore Crossing 2013 (Town of Horseheads, Chemung County, Southern Tier Region): $2.9 million investment to create 56 affordable housing units and a separate clubhouse building with a community room, exercise room, a computer room and laundry facilities. The energy-efficient project includes a handicap-accessible playground and patio area to encourage community living and engagement and will spur $10.4 million in economic activity.
VETERANS HOUSING
- Concern Ronkonkoma Veterans Housing (Town of Brookhaven, Suffolk County, Long Island Region): $1.2 million investment to create 59 units for veterans in eight townhouse-style buildings in Lake Ronkonkoma. On-site social services will be provided to help 30 veterans transition to independent living, with community resources providing vocational services and health care support. The project will drive $23 million in economic opportunity.
MITCHELL LAMA PRESERVATION
- Woodrow Townhomes LLC (City of Amsterdam, Montgomery County, Mohawk Valley Region): $3.5 million investment to preserve 100 units of Mitchell-Lama housing stock. Energy-efficient upgrades will yield a 20% reduction in energy use. The project is expected to produce $19.1 million in economic activity.
SUPPORTIVE HOUSING FOR THE DEVELOPMENTALLY DISABLED
- Whipple Apartments (East Williamsburg, Kings County, New York City Region): $1.3 million investment to create 51 low-income and supportive housing units to advance both Housing Opportunity and Supportive Housing goals. Eight units are set-aside for adults with developmental disabilities referred by the State’s Office of People with Developmental Disabilities (OPWDD), which will provide the necessary funding to support operations and services at the facility. The project will produce $14.9 million in economic opportunity.
- Cohoes-Lion Heart Residences (City of Cohoes, Albany County, Capital Region): $3.4 million investment to build 72 new low-income and supportive housing units for people with developmental disabilities. On-site support services include job training and placement and training for caregivers. OPWDD will provide funding for support services and rental assistance, as well as $1.8 million to support operations and services at the facility. The project will meet Green Building and Energy-Efficient Initiatives and will drive $15.9 million of economic activity.
- Independence Square (City of Newburgh, Orange County, Mid-Hudson Region): $2.4 million investment to create 74 affordable housing units. The project provides workforce housing alongside 14 supportive housing units for people with developmental disabilities. Counseling, case management, and rental assistance will be provided for the OPWDD clients, along with $1.6 million from OPWDD to support operations and services at the facility. The project is designed to drive $16.8 million in economic activity and to meet Green Building and Energy Efficiency Initiatives.
- Monarch Senior Living (Town of Webster, Monroe County, Finger Lakes Region): $2.9 million investment to create 50 affordable housing units for seniors and people with developmental disabilities. OPWDD will provide support services rental assistance, as well as $1.11 million to support operations and services for the 10 units serving people with developmental disabilities. Support services will include vocational opportunities and training and access to physical and wellness activities. The project will inject $10.8 million into local economies.
New York State Homes and Community Renewal (HCR) consists of all the State’s major housing and community renewal agencies, including the Housing Finance Agency, the Affordable Housing Corporation, the Division of Housing and Community Renewal, State of New York Mortgage Agency, Housing Trust Fund Corporation and others. HCR is committed to collaborating with partners, and keeping homes affordable and communities strong by protecting one million rent-regulated units, managing a portfolio of more than 190,000 multifamily units and administering more than $1.5 billion each year to expand affordable housing opportunities and build strong communities throughout New York State. For additional information, please visit: http://www.nyshcr.org/.
Contact
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