Pintail Crossing and Farmington on the Creek Offer 168 Apartments for Working Families in Growing Community with High-Performing School District
Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Governor Andrew M. Cuomo today announced the completion of two new housing developments in the town of Farmington. Together, Pintail Crossing and Farmington on the Creek create 168 affordable apartments for working families in Ontario County. Residents of both developments will have access to commercial corridors along Route 332 and Route 96 for jobs and services, and children residing in the developments will have access to the high-performing Victor Central School District.
"When we build affordable housing in fast-growing communities with access to good jobs and schools, we are providing hard-working families with the tools they need to succeed," Governor Cuomo said. "Pintail Crossing and Farmington on the Creek are the perfect example of safe, affordable homes that are key to moving the Finger Lakes region forward and making it an even better place to live and work."
The Governor's commitment to strengthening communities and growing the Finger Lakes economy is reflected in "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development.
The State's investment in Pintail Crossing and Farmington on the Creek complements the Finger Lakes Forward initiative by creating new affordable housing for families. Since 2011, New York State Homes and Community Renewal (HCR) has financed the creation or preservation of nearly 6,700 affordable multifamily homes in the Finger Lakes Region.
Pintail Crossing is a newly constructed development on previously undeveloped land along Rt. 41. The complex has eight two-story buildings with a total of 64 apartments and a separate community building.
All apartments are affordable to households earning at or below 60 percent of the Area Median Income. Building amenities include Energy Star appliances, central air conditioning and dishwashers along with outdoor garden space.
HCR's financing for the $18 million development included federal Low-Income Housing Tax Credits that generated $13 million in equity and $3.4 million in subsidy. Additional financing was provided by Bank of America. The project was developed by Conifer Realty in partnership with the Finger Lakes Area Counseling and Recovery Agency.
Farmington on the Creek
Located at 1347 Hathaway Drive, Farmington on the Creek has 104 apartments across 13 two-story buildings. Of the 104 apartments, 78 are affordable to working families and individuals with incomes at or below 60 percent of the Area Median Income. The remaining apartments are affordable to households with incomes up to 90 percent of the Area Median Income. Each apartment has a balcony or patio. A separate community building offers a kitchen, multipurpose room, laundry room and exercise room.
HCR's financing for the $22.8 million development included $4.7 million in permanent tax-exempt bonds, federal Low-Income Housing Tax Credits that generated $5.8 million in equity and $11.6 million in subsidy.
Developed by Home Leasing, Farmington on the Creek is adjacent to Home Leasing's 88-unit affordable senior housing development, Farmington Gardens, financed by HCR in 2010.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Pintail Crossing and Farmington on the Creek are helping 168 families achieve a brighter future with access to a high-performing school district and good jobs. Governor Cuomo understands that an affordable apartment can provide more than just a home - it can open new opportunities for employment and education. These two developments are creating a more inclusive community in Farmington, strengthening the local economy and keeping the Finger Lakes moving forward."
Senator Pam Helming said, "These exciting projects are an important step forward for the Town of Farmington. It is critical that we create new housing options for working families, young professionals and seniors. Working together, we will continue to grow our economy and support the efforts of local job creators and entrepreneurs."
Assembly Minority Leader Brian M. Kolb said, "The completion of two new housing developments is great news for the Town of Farmington. Affordable living space provides residents with greater financial flexibility and an improved quality of life - important parts of a healthy and thriving region. I am excited for these two new developments and the positive benefits they will bring to the surrounding communities. Congratulations to all those involved in making this vision a reality."
Ontario County Chairman Jack Marren said, "I wish to thank HCR for their financial flexibility in supporting this project. These 168 apartments will go a long way in meeting the housing demand within the growing Town of Farmington. The amenities that will be offered these residents will make these apartments a very attractive place to raise a family. Many thanks to Conifer Realty, FLACRA and Home Leasing for recognizing the need for this housing and their efforts to make it happen. Congratulations again to the Town of Farmington, and thank you HCR!"
Town Supervisor Peter Ingalsbe said, "The Town of Farmington last year was ranked by the State of New York as the 15th fastest growing community in upstate New York. When affordable housing is built in fast-growing areas such as Farmington, with high-performing schools and access to good jobs, opportunities are created which strengthen our local economy. These two projects provide quality affordable housing for many existing and new residents to the Town. On behalf of the Town of Farmington we look forward to sustaining the availability of these types of housing for years to come."
Jennifer Carlson, Chief Executive Officer, FLACRA, said, "Affordable housing is critical to the vitality and health for our communities and is one of the most significant needs our County faces today. FLACRA is pleased to be a partner with Conifer to positively impact the comprehensive strategy of Finger Lakes Forward Initiative, offering opportunity for economic growth and regional development. With innovative developments like Pintail Crossing, Conifer will continue to provide long-term housing options for homeless and lower-income members of our community and demonstrate cutting-edge solutions to complex regional challenges like affordable housing."
Joan F. Hoover, President, Conifer Realty, LLC, said, "Pintail Crossing is a perfect example of New York State Homes and Community Renewal coming together with the community to bring family workforce housing to its residents. Located in Farmington, NY, this unique community is surrounded by a dynamic, growing economy and high performing schools which together, create 'a HOME for possibilities' to those who need it most in New York. Conifer is delighted to finish another community that residents can be proud to call their home."
Bret Garwood, CEO of Home Leasing said, "We are very excited to add housing for families in Farmington next door to our community for seniors to help realize our mission to improve the lives of residents and the communities in which we work. Thank you to Governor Cuomo, New York State Homes and Community Renewal and our many partners who helped make this possible."
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.