Part of $200 Million to Build and Preserve Nearly 2,800 Affordable Apartments Across the State
Investment Complements "Southern Tier Soaring" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Governor Andrew M. Cuomo today announced that nearly $17 million has been awarded to three affordable housing developments in the Southern Tier that will create 202 affordable homes. The funding is part of more than $200 million the state is awarding to build or preserve more than 2,800 affordable apartments across New York's 10 regions, revitalize communities, and generate $1.1 billion in economic activity.
"This investment is a significant milestone in New York's $20 billion housing and homelessness plan, and a giant step forward in our efforts to increase access to homes for families, seniors and our most vulnerable men and women across the state," Governor Cuomo said. "These resources will help the region build affordable, stronger, better neighborhoods for our residents for generations to come."
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 112,000 units of affordable housing, and 6,000 units of supportive housing. The plan is a comprehensive approach to statewide housing issues and includes multifamily and single-family housing, community development, and rent stabilization.
The funds were available through New York State Homes & Community Renewal's 2017 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.
RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal said, "Today's announcement is another concrete example of Governor Cuomo's commitment to investing in affordable housing that not only provides quality homes to people who need them, but also addresses the crisis of homelessness, makes downtowns come alive with opportunity, and improves quality of life throughout the state. By delivering affordable homes to the Southern Tier, we continue to keep its economy soaring."
The awards announced today for the Southern Tier will:
Support Neighborhood Revitalization
$4.7 Million financed for 435 State St, City of Binghamton. These 48 affordable homes will be constructed on a vacant Brownfield site in the North Chenango River Corridor Brownfield Opportunity Area, which is part of a local Waterfront Revitalization Plan Area that is experiencing significant redevelopment including an active neighborhood retail sector. It will include two Community Service Facilities occupied by Catholic Charities of Broome County Employment Program and Health Home Division, which will provide job training through a café or coffee bar to allow clients to receive hands-on experience interacting with the public. Encompass Health Home will also occupy the space and will provides services to Medicaid eligible adults and children with chronic medical and/or behavioral health conditions.
$7 Million in financing for Lamphear Court Townhomes, City of Corning. These 82 affordable homes comprise the second phase of the redevelopment of Meadowbrook Apartments, a vital component of the City of Corning's Master Plan that will serve as a catalyst project for the central Northside Neighborhood. When complete, the redevelopment will increase available housing on the site to 142 homes from 96. Phase II is a mixed-income project that will see the demolition of seven buildings, the substantial rehabilitation of 26 others, and the new construction of one two-unit building and a free-standing community center. The City has been awarded $600,000 in Community Development Block Grant Funds from the Southern Tier Regional Economic Development Council for infrastructure improvements to the Lamphear Court access road. Phase I was funded in 2014 in conjunction with the New York State Office of Mental Health and is currently 100 percent occupied.
Break Down Barriers
$5.1 Million in financing for Milton Meadows Apartments, Town of Lansing. The 72 affordable for low to moderate individuals and families will be builtin an area that has low poverty and access to strong schools. The development is composed of nine two-story buildings on vacant land in the new Town Center, a 156-acre area across from the existing Town Hall, Library, and Community Center. It will be built to meet the NYSERDA Low Rise Construction Program and Leadership in Energy and Environmental Design Silver standards.
A full list of funding awarded statewide is available here.
Senator Betty Little, Chair of the Senate Housing, Construction and Community Development Committee said, "These affordable housing awards, made in diverse geographic regions throughout our state, represent a public and private commitment beyond bricks and mortar. It is a commitment to fostering personal well-being and economic opportunity. By creating and preserving affordable housing, we also invest in the villages, towns and cities that make up our state. I commend the Governor, NYS Homes and Community Renewal and my colleagues in the Legislature for their commitment to funding affordable housing in our State budget."
Assemblyman Steven Cymbrowitz, Chair of the Assembly Housing Committee said, "All New Yorkers, regardless of income, should have access to housing that is safe, affordable and comfortable. The awards announced today will bring high-quality homes with access to jobs, health care, green spaces, and transit to every region of the state."