CORINTH, N.Y. (NEWS10) — The Riverview Apartments at Corinth, which will provide 60 affordable and supportive housing apartments for low-income families and seniors in the Saratoga County town, got a $1 million boost on Monday. The grant, from the Federal Home Loan Bank of New York, follows a $7.3 million state grant the project received in July 2022.

Launched in 2021, the Riverview Apartments at Corinth project is a product of an ongoing partnership between Hudson River Community Credit Union (HRCCU) and RISE Housing and Support Services to bring affordable housing and support services to the Corinth community. The project will provide 30 supportive housing apartments, 15 affordable senior housing apartments, and 15 affordable community apartments to the town.

RISE will oversee the construction and operation of the building, while the three-acre parcel of land on which the apartment building will be constructed was donated by HRCCU. As a member of the Federal Home Loan Bank of New York, HRCCU also assisted RISE in obtaining the $1 million affordable housing grant.

“Creating access to affordable housing opportunities in the communities HRCCU serves is central to our mission of making our members lives better,” said HRCCU CEO Sue Commanda. “Because of this generous grant and our partnership with RISE, the Corinth community is now one step closer to having safe, affordable housing for its most vulnerable residents. We are so thankful to the Federal Home Loan Bank of New York for their support.”

“RISE is so grateful to have the support of the Federal Home Loan Bank in the development of crucial affordable housing units for Saratoga County at Riverview Apartments in the Village of Corinth,” said RISE Executive Director Sybil Newell. “The funding of this $1 million grant application is a shining example of the successes arising from our partnership with Hudson River Community Credit Union. When stakeholders work together, the whole community benefits.”

The funds awarded to the project are part of $25.3 million in grants that the FHLBNY announced on November 21, to support 30 affordable housing initiatives throughout New York, New Jersey, Connecticut, Pennsylvania, and Texas.

Construction on the building is expected to break ground in January 2023. The total cost of the project is projected to be $21 million.