Categories: Funding, New York State
05.06.2014
HCR funds 164 supportive housing units in seven residences
NYS Homes and Community Renewal (HCR) has announced the capital awards for its 2013 Unified Funding Round, which allocates federal 9% Low Income Housing Tax Credits and Housing Trust Fund dollars to affordable housing development projects.
Based on the Network’s preliminary analysis, the 2013 Unified Funding Round finances a total of 164 supportive housing units. This number represents a decrease from 2012, when 389 units saw funding. Supportive housing accounted for 8% of the 2,092 affordable units funded this year. In an average year, supportive housing comprises 17% of the units funded through the UFR. Much of this drop can be attributed to the forthcoming end of the New York/New York III Supportive Housing Agreement, a 10-year commitment that concludes next year.
Of the 37 projects funded, seven include supportive housing apartments. In total, Low Income Housing Tax Credits funded $2.3 million in supportive housing projects. Those funded include:
- Concern for Independent Living: Concern Ronkonkoma Veterans Housing, Suffolk, 30 supportive units
- Housing Visions Consultants and YWCA of Niagara: Walnut Avenue Homes, Niagara, 13 supportive units
- Ithaca Neighborhood Housing Services with Lakeview Mental Health Services: Stone Quarry Apartments Ithaca, Tompkins, 6 supportive units
- Providence Housing Development Corporation: Clark Park Apartments, Ontario, 8 supportive units
- Regan Development Corporation and Behavioral Health Services North: Homesteads on Ampersand, Clinton, 25 supportive units
- SoBRO Development Corporation and Urban Pathways: New Roads Plaza, NYC, 57 supportive units
- Warwick Properties and Occupations: Golden Ridge, Sullivan, 25 supportive units
Congratulations to all Network members who received funding this year