Thirty-three developments across New York have been selected to receive $91 million in low-income housing tax credits (LIHTCs) and low-interest loans.
The financing will build and preserve 2,060 affordable housing units and is expected to leverage more than $485 million in grants, loans, and private resources.
The funds were available through New York State Homes & Community Renewal's Unified Funding Application, a single-source process to apply for several funding streams for affordable multifamily developments. Officials said the new application is part of Gov. Andrew Cuomo’s efforts to break down inefficient and duplicative silos that had previously governed state funding.
In this latest round of funding, applicants competed for low-interest loans through the Low-Income Housing Trust Fund program, LIHTCs, the HOME capital program, and state LIHTCs.
Highlights of the awards in each of the state's 10 economic development regions include:
Capital Region
Winn Development Co.: $4.44 million for Livingston Apartments; adaptive-reuse of the vacant Livingston Middle School in Albany, transforming it into 103 units of housing for the elderly, including 16 supportive units for the frail elderly. The city of Albany is an investment partner.
Central New York
Atonement Housing Corp.: $3.24 million for Joslyn Court III and IV; demolition and new construction of 36 affordable rental units on Syracuse's south side. The city of Syracuse is an investment partner.
Finger Lakes
DePaul Properties, Inc./Betts Housing Partners, LLC: $5.7 million for Rochester View Apartments; new construction of 60 rental units in the town of Henrietta in Monroe County. The project will provide 33 units for low-income individuals with psychiatric disabilities and 27 units for low-income persons with hearing impairments. It was a coordinated investment with the New York State Office of Mental Health and Homeless Housing and Assistance Corp.
Long Island
Conifer, LLC: $2.1 million for Wincoram Commons; mixed-use new construction of eight commercial units and 98 rental units for low- and moderate-income individuals and families. Part of the local redevelopment strategy for the hamlet of Coram, within the Suffolk County town of Brookhaven, the project was endorsed by the Long Island Regional Economic Development Council and awarded funds from Empire State Development.
Mid-Hudson
Regional Economic Community Action Program, Inc., and Excelsior Housing Group, LLC: Approximately $2.9 million for the Mill at Middletown in Orange County; adaptive-reuse of a former mill into 42 rental units for low-income individuals and families, with 13 units set aside for persons with special needs, including five units for persons living with AIDS. It was a coordinated investment with the state Office of Alcoholism and Substance Abuse Services and the Office of Temporary and Disability Assistance.
Mohawk Valley
Birchez Associates, LLC, and Omni Housing Development, LLC: $3.9 million for Birches at Schoharie; new construction of 71 rental units for low- and moderate-income seniors in the village of Schoharie, a community devastated by tropical storms Lee and Irene.
New York City
Dunn Development Inc.: More than $1.7 million for Bergen Saratoga Apartments; new construction of 80 rental units for low-income households, including 40 units for those who are or are at serious risk of becoming chronically homeless. Supportive services for these households will be provided by CAMBA, Inc., of Brooklyn.
North Country
Georgica Green Ventures, LLC & White Birch Enterprises LLC: $1.85 million for Woolworth Watertown; adaptive-reuse of the historical FW Woolworth building in downtown Watertown in Jefferson County into a 50-unit rental unit project for low-income households.
Southern Tier
Lakewood Development, LLC: $3 million for Norwich Shoe Apartments; demolition of four blighted buildings and new construction of 34 rental units for low-income individuals and families, with seven units set aside for persons with developmental disabilities. Located adjacent to the city of Norwich's Business Improvement District, the Chenango County project is a coordinated investment with Office of People with Developmental Disabilities.
Western New York
People United for Sustainable Housing, Inc.: $3.5 million for Mass Ave Community Homes; new construction of 28 rental units and rehabilitation of 18 rental units in 16 buildings on Buffalo's west side. The state will partner with PUSH Buffalo.
