ALBANY, N.Y. (NEWS10) — Governor Kathy Hochul has awarded $16.1 million to two affordable housing developments in Albany. Overall, $145 million was awarded to 21 housing developments throughout New York.
“This $145 million investment renews our commitment to creating and preserving the safe, healthy and affordable homes that New Yorkers deserve,” said Hochul. “Our best strategy for recovery from the pandemic is ensuring that everyone has a solid roof over their head and access to the services they need to remain securely housed. With the inclusion of additional resources for clean energy development and requiring free broadband access, we are building back better than before by creating housing that promises a stronger, greener and more equitable New York today and for the future.”
In Albany, $9.1 million is going to Steamboat Square. The development will include the rehabilitation of 51 Albany Housing Authority apartments and create an additional 37 homes in Albany’s Capital South neighborhood. Fourteen apartments will be reserved for homeless adults who will have access to on-site supportive services.
Empire State Development is providing funding to renovate two commercial spaces currently occupied by nonprofit organizations. Additional funding from the Clean Energy Initiative will help provide heating, cooling and hot water from ground source heat pumps.
Clinton Avenue Historic Apartments II in Albany is also receiving $7 million. The project includes the redevelopment of six rowhouses, a former school and a three-story mixed-use building to create 62 affordable homes. The project will include space for a new business incubator funded in part by Empire State Development. The development has also received funding from the Clean Energy Initiative to support the construction of 32 all-electric apartments.
The awards are being provided through New York State Homes and Community Renewal’s Multifamily Finance RFP. A full list of awards can be found on the New York State website.