NEW YORK, NY— For thousands of New Yorkers searching for an affordable place to live, a new round of state funding will help build new apartments, preserve aging housing and expand supportive homes for people who "need them most," official said on Thursday.
New York State Homes and Community Renewal awarded nearly $1 billion in financing for 12 housing developments that will create or preserve 2,754 affordable apartments across New York City, the Mid-Hudson Valley, the North Country and Western New York.
Gov. Kathy Hochul said the public funding is expected to attract additional private financing, including loans and investments used to complete the developments, bringing the total investment to nearly $1.6 billion.
The financing includes $526 million in housing bonds and $471 million in state subsidies.
By combining nearly $1 billion in state funding with the private investment, New York will help build and preserve more than 2,700 affordable homes across the state.
Hochul said the projects will provide energy-efficient housing, expand supportive services for residents who need them and strengthen communities in New York City, the Mid-Hudson Valley, the North Country and Western New York.
"This funding advances our $25 billion Housing Plan and brings us closer to ensuring that every New Yorker has access to a safe, stable, and affordable place to call home," Hochul said.
The projects include new construction, rehabilitation of existing buildings and adaptive reuse of older properties.
Many also include supportive housing for older adults, veterans, people experiencing homelessness and other vulnerable New Yorkers.
The developments target households earning between 60 percent and 100 percent of the area's median income, depending on the project.
For example, in a high-cost area such as New York City, a four-person household earning about $86,000 a year may fall around the 60 percent AMI range, while a household earning about $144,000 a year may fall around the 100 percent AMI range.
The exact limits vary depending on the county, household size and the year’s income guidelines.
Several developments will also provide on-site supportive services, allowing residents to access housing alongside health care, counseling and other assistance.
State officials said every project meets high sustainability standards designed to improve energy efficiency, reduce operating costs and create healthier living environments.
State financing will support seven developments across the city.
In Manhattan, funding will preserve 258 affordable and supportive apartments at Columba Kavanagh, rehabilitate the 104-unit Narragansett building and convert a former correctional facility and seamen's house into Chelsea Beacon, a mixed-use development with 131 affordable apartments.
Queens will receive a new nine-story Silver Beach development with 138 affordable apartments, including supportive housing for older adults experiencing homelessness.
The Bronx will add 251 affordable apartments through the new St. Joseph Apartments development.
Brooklyn will receive two major projects through the Vital Brooklyn initiative.
Alafia Phase 3 will add 273 affordable apartments, while Kingsbrook Estates will replace former hospital buildings with a 402-unit development that includes supportive housing for older adults and veterans.
Outside New York City, funding will support several large-scale developments.
In Yonkers, eight public housing buildings with 415 apartments will undergo renovations and full electrification.
Kingston will preserve 158 affordable apartments while adding 80 new units through the second phase of the Kingston Housing Authority redevelopment.
Potsdam's Evergreen Apartments project will renovate existing buildings while adding 88 new apartments.
Rochester's First Genesis Senior Living development will create 105 affordable apartments for older adults, including supportive housing for disabled veterans.
In Buffalo, the North Aud Block project will build 187 affordable apartments alongside 64 market-rate units.
The awards are part of Hochul's five-year, $25 billion housing plan.
According to the state, more than 81,000 affordable homes have already been created or preserved under the initiative.
The plan seeks to create or preserve 100,000 affordable homes statewide, including 10,000 with supportive services, while also electrifying 50,000 existing homes.
Homes and Community Renewal Commissioner RuthAnne Visnauskas said the latest awards continue that effort.
Columba Kavanagh — Manhattan
What’s happening: Six affordable housing buildings will be preserved and modernized.
Number of apartments: 258
Income eligibility: Households earning at or below 60 percent of Area Median Income (AMI).
Who it serves: Includes supportive housing for residents who need additional services.
What’s happening: A 12-story apartment building will undergo a major rehabilitation.
Number of apartments: 104
Income eligibility: Households earning at or below 60 percent of AMI.
Who it serves: Includes 78 apartments with supportive services for vulnerable New Yorkers.
What’s happening: A former correctional facility and seamen’s house will be converted into housing and commercial space.
Number of apartments: 131 affordable apartments.
Income eligibility: Households earning at or below 80 percent of AMI.
Who it serves: Includes 79 apartments with supportive housing for vulnerable New Yorkers.
Silver Beach — Queens
What’s happening: A new nine-story apartment building will be constructed.
Number of apartments: 138
Income eligibility: Households earning at or below 60 percent of AMI.
Who it serves: Includes 82 apartments with supportive services for older adults experiencing homelessness.
St. Joseph Apartments — Bronx
What’s happening: A new eight-story affordable housing development will be built.
Number of apartments: 251
Income eligibility: Households earning at or below 70 percent of AMI.
Who it serves: Includes 125 apartments with supportive services for vulnerable New Yorkers.
Vital Brooklyn Alafia Phase 3 — Brooklyn
What’s happening: Two new six-story buildings will be constructed as part of the Vital Brooklyn initiative.
Number of apartments: 273
Income eligibility: Households earning at or below 70 percent of AMI.
Who it serves: Affordable housing for Brooklyn residents.
Vital Brooklyn Kingsbrook Estates — Brooklyn
What’s happening: Four former hospital buildings will be demolished and replaced with a new 14-story apartment building.
Number of apartments: 402
Income eligibility: Households earning at or below 70 percent of AMI.
Who it serves: Includes 142 apartments with supportive services for older adults and veterans.
Sign up for free local newsletters and alerts for the
New York City, NY Patch
Patch.com is the nationwide leader in hyperlocal news.
Visit Patch.com to find your town today.