$137M awarded to NYC affordable and supportive housing projects

Last week, Governor Kathy Hochul announced the awarding of more than $390 million in bonds for the construction and preservation of over 1,600 units of affordable and supportive housing which would go toward 10 projects across the state.

"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," said Hochul in a news release. "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." 

Of the total statewide funding, roughly $137 million is set to go toward four projects within New York City limits. Here they are, as detailed in the Governor's announcement:

$44.7 million for Bedford Green House Phase II in the Fordham Heights section of the Bronx. The 17-story building will offer 116 affordable apartments with 70 reserved for individuals experiencing homelessness. These residents will have rental subsidies and services funded through an Empire State Supportive Housing Initiative award administered by the New York State Office of Mental Health. The remaining 46 apartments will be for families and seniors aged 62 or older. The development will feature a 2,300-square-foot medical clinic to serve residents and the surrounding community.  

$44.2 million for Shepherd Glenmore in Brooklyn's East New York neighborhood. The seven-story building will offer 123 affordable homes with 74 apartments reserved for individuals experiencing homelessness due to criminal-justice involvement, substance-use disorders, or mental illness. Services and rental subsidies will be funded through an Empire State Supportive Housing Initiative award administered by the New York State Office of Temporary and Disability Assistance. Eight additional apartments will be reserved for seniors. The energy-efficient building will have a solar array mounted to the roof to generate on-site electricity.   

$27.5 million for Crotona Belmont Senior Housing in the East Tremont neighborhood of the Bronx. The ten-story building will include 134 affordable apartments for seniors 62 and older. There are 41 apartments reserved for formerly homeless seniors who will have supportive services funded by a grant from the New York City Human Resources Administration. All households will receive rental assistance through Section 8 Project Based Vouchers administered by the New York City Housing Authority.   

$20.4 million for River View Towers in the Hamilton Heights neighborhood of Manhattan. The project will fund capital improvements at this 25-story state-supervised Mitchell-Lama cooperative with 385 affordable homes. Originally constructed in 1964, the building needs improvements such as roof replacement and asbestos abatement, replacement of boilers and associated piping, new windows and balcony doors, and masonry repairs. The upgrades are expected to improve energy efficiency and reduce building fuel usage by 14 percent. The owner is River Towers, Inc.