Part of $175 Million Investment to Provide 2,185 Affordable Homes Across the State
Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Governor Andrew M. Cuomo today announced that $14 million has been awarded to four affordable housing developments in the Finger Lakes Region that will create or preserve 256 affordable homes. The funding is part of $175.4 million the State is awarding to build or preserve more than 2,185 affordable apartments and revitalize communities across New York's 10 regions. The investments in the Finger Lakes complement Finger Lakes Forward, the region's comprehensive blueprint to generate robust economic growth and community development.
"These critical investments will strengthen communities in every corner of the state by creating and preserving affordable homes for families, veterans, seniors and some of our most vulnerable neighbors," Governor Cuomo said. "By strategically revitalizing neighborhoods throughout New York, we can breathe new life into these communities, making them more vibrant places to live for generations to come."
"This significant funding is part of our efforts to add and retain affordable housing across the state," said Lieutenant Governor Kathy Hochul. "We want to make sure that all New Yorkers have access to affordable, quality apartments while contributing to the revitalization of communities. The investment is part of our $20 billion housing plan to add affordable and supportive housing in neighborhoods to combat homelessness and enhance quality of life."
The Governor's commitment to providing all New Yorkers with access to safe, affordable housing is reflected in the State's unprecedented $20 billion, five-year Housing Plan. The plan makes housing accessible and combats homelessness by building and preserving 100,000 units of affordable housing, and 6,000 units of supportive housing.
The funds were made available through New York State Homes & Community Renewal's 2018 Unified Funding Application, a streamlined process to apply for Low-Income Housing Tax Credits and low-interest loans for affordable, multifamily developments. Projects are funded in every region of the state.
Awards in the Finger Lakes will expand the supply of supportive and senior housing in communities throughout the region. Awards announced today include:
- $6.3 million for La Rosa Villas in the Village of Le Roy, creating 60 affordable apartments for seniors close to the village's Main Street and transportation.
- $2.5 million for Stanton Meadows Apartments, preserving 118 affordable apartments in the Town of Seneca Falls.
- $1.7 million for Happiness Houses II, creating 30 affordable and supportive homes in the Town of Canandaigua for low-income families, elderly and homeless individuals.
- $3.4 million for Frances Apartments II, creating 48 affordable apartments in the Town of Sweden in a high performing school district.
A full list of funding awarded statewide is available here.
RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal said, "The investments announced today are part of $175 million awarded across the State that builds on the momentum and unprecedented resources that Governor Cuomo has committed to improving New York's communities since 2011. Under Governor Cuomo's leadership, we are doing more than ever to increase access to affordable and supportive housing, reduce homelessness, revitalize neighborhoods and strengthen local economies."
Senator Brian Kavanagh, Chair of the Senate Housing Committee said, "We need to make sure New Yorkers across the state have access to good, safe and affordable housing, and today's Unified Funding awards announcement marks an important step toward revitalizing our communities. This funding will help create and preserve affordable housing, and keep people in the neighborhoods they call home."
Senator Pam Helming said, "Safe, affordable housing is critical for the success of our communities and our local economy. When residents have adequate housing, they can contribute to the wellbeing and quality of life of our region both as workers and as consumers. The success of our job-creating businesses relies first and foremost on the success of our families and communities, who need affordable, dependable housing in order to grow and thrive. These projects to preserve affordable apartments in Seneca Falls and create supportive homes in Canandaigua will help enhance housing options for both working families, senior citizens, and others in our communities. This investment by New York State Homes & Community Renewal is important and exciting for Seneca Falls and Geneva. Projects like these help drive economic development and job creation as well as support our residents. I look forward to continuing to work with on behalf of our region, and I wish Stanton Meadows Apartments and Happiness Houses II much success as these projects move forward."
Senator Robert Ortt said, "The Frances II project in Sweden will help continue the town's successful planning and economic development efforts while filling a critical affordable housing need. I'm further encouraged that 25 percent of the units will support individuals with intellectual and developmental disabilities - providing accessible housing to these individuals so that they can live independent lives."
Senator Mike Ranzenhofer said, "Investing in our region is extremely important, I am glad LeRoy was awarded funding for their senior housing project. It is great to see the creation of affordable housing for seniors, so they are able to continue to be a part of the community."
Assembly Minority Leader Brian Kolb said, "Communities thrive when every resident is given a fair shot at success. By ensuring there is adequate affordable housing for those who need it most, we reaffirm our promise as lawmakers that every New Yorker will be given an opportunity to thrive. Additional affordable housing is needed from Rockland to Erie County and all points in between, and the Finger Lakes Region is no exception. I am certain this investment will immensely benefit the region's economy and improve the quality of life for those who are proud to call this area home."
Assembly Member Steven Cymbrowitz, Chair of the Assembly Housing Committee said, "This initiative moves forward our continued commitment to create and preserve affordable and supportive housing stock for all New Yorkers, especially our most vulnerable. I'm pleased that this project will provide seniors, young adults and other New Yorkers with the ability to remain vital and engaged members of our communities."
Assemblyman Steve Hawley said, “Home ownership is ingrained as part of the American dream, and helping our seniors and most vulnerable New Yorkers achieve safe, affordable and comfortable living situations is a primary responsibility we all realize as lawmakers. I am proud to see such a large investment injected into the communities of Le Roy and Sweden, as these investments will lift up all residents, but especially those seeking affordable housing. I am pleased to take part in such an important announcement and look forward to these developments serving residents for years to come.”
Accelerating Finger Lakes Forward
Today's announcement complements "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan - investing in key industries including photonics, agriculture and food production, and advanced manufacturing. 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 Rochester, Batavia and Canandaigua as a destination to grow and invest in.
Now, the region is accelerating Finger Lakes 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 incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 8,200 new jobs. More information is available here.