Newly Constructed Catherine Street Apartments to Provide 50 Affordable and Supportive Homes on Syracuse's North Side
Governor Andrew M. Cuomo today announced the opening of Catherine Street Apartments, a newly constructed $17.6 million affordable and supportive housing development on Syracuse's North Side. Thirty of the apartments are reserved for individuals who are eligible for on-site supportive services that promote stability, health and independent living.
"When we invest in supportive housing for our most vulnerable residents, we are investing in a better future for all New Yorkers," Governor Cuomo said. "This new affordable and supportive housing development will provide a safe and reliable home and critical services for those who need it most, furthering our commitment to rebuilding Syracuse's North Side and helping keep Central New York rising."
"This development will provide residents with affordable, high-quality housing options and ensure they have the support services they need to lead healthy and secure lives," said Lieutenant Governor Kathy Hochul. "Our investments are not just about dollars and cents, it's about creating hope for those who need a helping hand. This project is part of our overall efforts to increase affordable housing across the state and combat homelessness in our communities. It also builds on our economic development efforts in Syracuse's neighborhoods and enhances the quality of life in Central New York."
Catherine Street Apartments is a four-story building with 50 apartments located at 501 Catherine Street in the North Side section of Syracuse. There are 40 one-bedroom apartments and 10 two-bedroom apartments. Twenty apartments will be affordable to households earning at or below 50 percent of the Area Median Income, and 30 apartments will be affordable to households earning at or below 60 percent of the Area Median Income.
Thirty apartments are reserved for individuals with mental health diagnoses. Central New York Services, Inc. will provide connections to supportive services for these households, including skill building and recovery-based case management.
Building amenities include laundry facilities, common areas with kitchenettes, a seating area in the lobby, and outside landscaped areas.
State financing for the $17.6 million project includes $8.6 million in permanent tax-exempt bonds, federal Low-Income Housing Tax Credits that generated $5.7 million in equity and an additional $2.7 million in subsidy from New York State Homes and Community Renewal. The New York State Office of Mental Health provided $8.5 million in capital funding and will also will provide funding for the onsite supportive services. The project was developed by CSD Housing in partnership with Central New York Services, Inc.
Governor Andrew M. Cuomo's commitment to strengthening communities and growing the Central New York economy is reflected in Central New York Rising, the region's comprehensive blueprint to generate robust economic growth and community development. The State's investment in Catherine Street Apartments complements the Central New York Rising initiative creating new affordable and supportive housing opportunities. Since 2011, New York State Homes and Community Renewal has invested more than $95 million in Syracuse, creating or preserving affordable housing for more than 3,700 people.
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 or preserving more than 100,000 affordable homes and 6,000 with supportive services. The plan is a comprehensive approach to statewide housing issues and includes multi-family and single-family housing and community development.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "This new development is designed to provide a stable and nurturing environment for more than fifty residents to live and thrive, while also stimulating the economy on Syracuse's North Side. With Catherine Street Apartments, we are contributing to the momentum that is keeping Central New York Rising."
New York State Office of Mental Health Commissioner Dr. Ann Sullivan said, "The supported housing units in the Catherine Street Apartments will allow vulnerable New Yorkers to receive the treatment they need in safe and stable homes of their own. Case managers and peer specialists will help these people to live successfully and independently in the community. OMH is proud to be a partner in this wonderful development."
Senator Robert E. Antonacci said, "The Catherine Street Residences is an outstanding addition to the neighborhood, revitalizing a historic apartment building, providing affordable housing and supportive services for individuals with special needs."
Assembly Member William B. Magnarelli said, "Revitalizing downtown Syracuse is important to the Central New York community. The Catherine Street Residences are a wonderful example of collaboration between several state agencies including the NYS Office of Mental Health and NYS Homes and Community Renewal to bring new affordable and supportive housing to the Northside. New York State investment in this project will continue to be a catalyst for future development and the economic vitality of our City."
Onondaga County Executive Ryan McMahon said, "Good quality, affordable and supportive housing changes lives, brings new energy to neighborhoods and boosts our region's economy. Thank you and congratulations to all of the partners who brought the Catherine Street Apartments to life, making it the newest affordable development in Syracuse to be financed through Governor Cuomo's comprehensive housing plan."
Syracuse Mayor Ben Walsh said, "The Catherine Street Apartments project aligns with our strategy for inclusive growth and ensures that those principles are embedded in more than economic opportunities, but also in our housing stock, community development, and services that meet the needs of our residents. Thank you to Governor Cuomo, NYS Homes and Community Renewal, the State Office of Mental Health, and sponsors CSD Housing and CNYS whose support made this project possible."
Mike Dehmler, Managing Principle, CSD Housing, said, "CSD Housing is excited to see this project bring a renewed face to the historic block and provide a beautiful new residence to the community. We are honored to work with a dedicated partner in Central NY Services, committed to supporting individuals and families with financial challenges and health care issues from Syracuse and the surrounding area. CSD Housing looks forward to working with the organization on additional projects that fulfill the unmet needs of the community."
John Warren, Executive Director, Central New York Services, Inc., said, "We're thrilled with the community's response to Catherine Street. The demand for this type of housing propelled us to begin construction on another building of the same concept on State Fair Boulevard, which is scheduled to open in 2020."
Accelerating CNY Rising
Today's announcement complements "Central NY Rising," the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.6 billion in the region since 2012 to lay the groundwork for the plan - capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. 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 Syracuse, Oswego and Auburn as a destination to grow and invest in.
Now, the region is accelerating Central NY Rising 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 5,900 new jobs. More information is available here.