Part of $175 Million Investment to Provide 2,185 Affordable Homes 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 $21.3 million has been awarded to six affordable housing developments in the Southern Tier that will create or preserve 249 affordable homes. The funding is part of $175 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 Southern Tier complement Southern Tier Soaring, 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 Southern Tier will expand the supply of affordable workforce and supportive housing, transform historic buildings into housing and commercial spaces, and create housing opportunities close to main streets and downtown commercial districts. Awards announced today include:
$5.3 million for West End Heights in the City of Ithaca, Tompkins County, creating 60 affordable apartments for people in the workforce and those needing supportive services in a new, five-story building that will include offices for Lakeview Health Services.
$2.2 million to create 29 apartments and two commercial units at several sites in the City of Ithaca (Tompkins County).
$4.9 million for Watkins Glen 2nd Street Redevelopment, in the Village of Watkins Glen Schuyler County, creating 34 apartments, with six households receiving rental assistance from the Office of People with Developmental Disabilities, in a mixed-use complex that will include a child care facility.
$4.3 million for Endicott Square, in the Village of Endicott (Broome County), creating 61 apartments in a mixed income development that repurposes a former, underutilized, school.
$2.6 million for Gerard Block Apartments in the City of Elmira (Chemung County), creating 28 apartments in a mixed-use development following substantial rehabilitation of three buildings on Lake and Carol streets close to commercial neighborhood of downtown Elmira.
$2 million for the new construction of LaFrance Apartments which will create 37 affordable homes in the City of Elmira, Chemung County, close to Elmira's South Main Street commercial corridor. Twenty households will receive services and support through the Empire State Supportive Housing Initiative.
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 Tom O'Mara said, "We are grateful for state investments across the region to expand the availability of affordable housing for people with developmental disabilities, and other area workers and families. It will make an enormous difference in the lives of residents and help them live independently and safely in a quality setting while continuing to enhance and strengthen the fabric of our local communities."
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."
Assembly Member Barbara Lifton said, "I'm proud to have voted in the Assembly for this funding for the Ithaca community. As the cost of housing continues to rise in Ithaca and the surrounding region, making it difficult for individuals and families to access quality housing, this funding will serve a critical need and make a meaningful difference in people's lives by creating affordable housing options close to public transit, childcare, schools, and employment opportunities. I'm particularly pleased that some of this funding will go towards supportive housing, which is a dire need in the Ithaca community. Thank you to the Governor and all who have worked so hard to bring these important projects to fruition."
Assembly Member Donna Lupardo said, "This is welcome news for the Southern Tier where there has been a shortage of affordable housing for many years. Providing modern, safe places to live for people of all income levels is critical to stabilizing communities, like Endicott, that are still rebuilding their local economies."
Accelerating Southern Tier Soaring
Today's announcement complements "Southern Tier Soaring", the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.2 billion in the region since 2012 to lay for groundwork for the plan - attracting a talented workforce, growing business and driving innovation. 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 Binghamton, Johnson City and Corning as a destination in which to grow and invest. Now, the region is accelerating Southern Tier Soaring 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 10,200 new jobs. More information is available here.