On January 19, 2023, Governor Kathy Hochul announced that over $390 million was awarded through bonds and subsidies for affordable and supportive housing statewide. With additional private funding, over $600 million is expected to be invested to preserve over 1,600 units in ten projects across the state, including four projects within New York City. The four New York City projects are Bedford Green House Phase II in Fordham Heights in the Bronx; Shepherd Glenmore in East New York, Brooklyn; Crotona Belmont Senior Housing in East Tremont in the Bronx; and River View Towers in Hamilton Heights, Manhattan.
The Bedford Green House Phase II project will be a 17-story building with 116 affordable units. Seventy units will be reserved for formerly homeless individuals who will have rental subsidies and services provided through an Empire State Supportive Housing Initiative award from the State Office of Mental Health. The other units will serve seniors. The building will also have a medical clinic that will serve residents and the community. Construction began on this project last month. For CityLand’s prior coverage of this project, click here. The state will be investing $44.7 million for this project.
The Shepherd Glenmore in East New York will be a seven-story building with 123 affordable homes, including 74 for formerly homeless individuals. Eight additional apartments will be for seniors. An Empire State Supportive Housing Initiative award will be administered by the New York State Office of Temporary and Disability Assistance. The building will include a solar array on the roof to help generate energy for the building. The state will be providing $44.2 million in funding for the project.
The Crotona Belmont Senior Housing in East Tremont will be a ten-story building with 134 affordable units for seniors. Forty-one units will be for formerly homeless seniors who will receive supportive services through a grant from the New York City Human Resources Administration. All apartments will receive rental assistance through Section 8 Project Based Vouchers administered by the New York City Housing Authority. The state will provide $27.5 million in funding for this project.
The River View Towers in Hamilton Heights are a 25-story Mitchell-Lama cooperative development which include 385 affordable homes. The $20.4 million allocated by the state will go toward capital improvements to the Towers, which were originally constructed in 1964. Improvements include a roof replacement, asbestos abatement, new boilers, windows, and balcony doors, and masonry repairs.
Additional projects around the state include a $39.6 million investment in the Stuyvesant Apartments in Kingston, which will undergo extensive repairs to extend the life of the building; a $61.6 million investment for Tait Lane Reserve in Saratoga Springs to create 202 affordable units over various townhomes and three-story walk-up buildings; and $43 million for the Marketplace Senior Apartments in Henrietta in the Finger Lakes region.
Governor Hochul stated, “As our state stares down a severe housing crisis, this investment to create and preserve more than 1,600 new homes marks an important step toward addressing New York’s housing shortage. Building, preserving, and stabilizing our housing supply is a top priority for my administration, and I remain committed to bringing forth solutions – like the New York Housing Compact – to ensure that we have ample, safe, and affordable housing for anyone who wants to call New York home.”
By: Veronica Rose (Veronica is the CityLaw fellow and a New York Law School graduate, Class of 2018.)