Categories: Funding, New York State
01.31.2022
New York State Homes and Community Renewal (HCR) announced the Summer 2021 9% Multifamily awards in December. A total of 21 affordable housing projects received awards, two thirds of which have a supportive housing component resulting in funding 277 supportive out of a total of 1,178 affordable (24%). In all, the announcement included $23 million in Low Income Housing Tax Credits, which will generate over $200 million in private investments. An additional $23 million in Supportive Housing Opportunity Program (SHOP) as well as several other capital resources are included in the spring awards.
Of note: These awards include over $14.7 million in National Housing Trust Fund (NHTF), spread over seven projects. This vital resource stimulates development of affordable homes for people with the lowest incomes. The Network continues to advocate for increased Federal funding for the NHTF in Build Back Better.
Congratulations to all of our members who enjoyed success this round. We anticipate that the new round of 9% Multifamily will be out soon.
New York City
$15.8 million for The Rise in Brownsville, Brooklyn. Xenolith Partners, LLC and the Women’s Prison Association (WPA). 72 affordable units, including 47 supportive. WPA will also provide services.
$10.8 million for Park Place in Crown Heights, Brooklyn. HELP USA is the developer and will also provide onsite services. 43 affordable apartments, including eight supportive homes reserved for homeless families.
$1.8 million for Homee in Crotona/ Morrisania, Bronx. Urban Pathways will convert and expand its existing 24-bed transitional housing project to a 79-unit apartment building. Urban Pathways will provide on-site supportive services.
Capital Region
$9.1 million for Steamboat Square in Albany. 37 homes total, fourteen will be reserved for homeless adults who will have access to on-site supportive services provided by CARES NY. Albany Housing Authority is the developer.
Central New York
$10.6 million for Port Byron Apartments in the town of Port Byron in Cayuga County. 69 affordable homes, 30 of the apartments will be reserved for adults and seniors in need of supportive services. The developer is DePaul Properties and services will be provided by DePaul.
$6.9 million for The Landing at Burke Meadows in the village of Cazenovia in Madison County. 39 homes for adults ages 55 and older, ten of which will be set aside for individuals and families in need of supportive services. Developed by Housing Visions, services will be provided by the Madison County Community Action Program.
Finger Lakes
$8.3 million for the Federal Street scattered-site development in Rochester. The Rochester Housing Authority and Edgemere Development are co-developers. 53 apartments of which nine are reserved for homeless individuals, including those reentering the community from incarceration. Services will be provided by Spiritus Christi.
Long Island
$5 million for Freeport in Nassau County. 31 mixed-income apartments, ten of which are reserved for individuals in need of supportive services, which will be provided by Options for Community Living. The developer is Regan Development Corporation.
Mid-Hudson
$9.4 million for Mount Hope Plaza in White Plains. 35 homes for seniors, including 20 apartments for individuals in need of supportive services developed by the Mount Hope Community Development Corporation, who will also provide services.
North Country
$4.7 million for Harrison Place in Malone. 40 affordable apartments, half of which will be reserved for adults in need of supportive services. The developer and service provider is Citizens Advocates.
Southern Tier
$4.8 million for Reynolds Way Apartments in Elmira. 42 apartments, including eight with supportive services. Developed by Arbor Housing & Development. Arbor will also provide the supportive services.
Western New York
$7.9 million for Blocher Homes Apartments in the Erie County town of Williamsville. 93 affordable homes. Twenty apartments will be reserved for individuals with intellectual or developmental disabilities who will have access to services provided by People Community Housing Development Corp., also the project’s developer.
$6.3 million for the Apartments at the Lyceum in Buffalo. 42 homes with 12 apartments reserved for homeless families. Developed by Edgemere and Community Services for Every1. Services will be provided by Community Services for Every1.
$4 million for State Street Apartments in the city of Olean in Cattaraugus County. 46 apartments. 14 homes will be reserved for homeless families who will have access to services provided by Cattaraugus Community Action, Inc. CDS Monarch, Inc. is the developer.