Categories: New York State
01.04.2024
The Network is pleased to report that Governor Hochul and New York State Homes and Community Renewal have clarified that Single Room Occupancy supportive housing residences are eligible for the state’s Supportive Housing Preservation Program. $50 million in capital will be specifically dedicated to this effort. This funding may be used to upgrade SRO housing into studio apartments if practical. If not, a waiver of the design guidelines may be requested. The Network urges our members with this type of housing to check out the term sheet.
Note: The Supportive Housing Preservation Program is not limited to SRO programs and we encourage our members to strongly consider this resource. The Network has been at the forefront in advocacy for this preservation program and the inclusion of SROs.
Click here to read the Governor’s announcement. Click here to view the SRO Preservation Program in our Funding Guide.