Earlier this month, Governor Kathy Hochul announced $104 million in new funding for the construction of preservation of 864 affordable housing units statewide. Roughly $35.8 million of that total will go toward three projects in New York City creating a total of 207 homes. See below:
- $16.2 million for Boone Avenue Apartments in the Bronx. Constructed on the site of a demolished auto garage, Boone Avenue Apartments will offer 66 affordable and supportive apartments for homeless adults and seniors. Thirty-one of the apartments will be supported by rental and service subsidies through NYC 15/15; twenty homes are supported by the Empire State Supportive Housing Initiative; and 14 homes are supported by NYC's Affordable Independent Residences for Seniors. The developer and service provider is The Bridge, Inc.
- $12.7 million for Concern Logan on Pitkin Avenue in Brooklyn. The development will feature 66 affordable apartments, including 40 homes reserved for individuals with mental health illnesses who will have access to on-site supportive services funded through an Empire State Supportive Housing Initiative award and the Homeless Housing and Assistance Program. Fifteen of the supportive homes will be given preference to veterans. The developer is Concern for Independent Living.
- $6.9 million for Freedom Village on East 2nd Street in Manhattan's Bowery neighborhood. The newly constructed Freedom Commons will include 75 affordable and supportive apartments for homeless adults in need of services and seniors transitioning out of nursing homes. The development is being constructed on the site of a demolished office and transitional housing building owned by Barrier Free Living, the project's developer. Services and rental subsidies are funded through an Empire State Supportive Housing Initiative award to Barrier Free Living and the Homeless Housing and Assistance Program.
"Expanding the housing supply is the cornerstone of my $25 billion, five-year housing plan..." said Hochul in a news release announcing the funding. "With sustainable designs, on-site supportive services, and expanded access to free or low-cost broadband internet, we're not just building homes with these awards; we're creating vibrant, more enduring communities."
The Governor has aimed to build or preserve at least 100,000 affordable homes statewide, approximately 10 percent of which would also include supportive services.
Funding for the new housing announced by Hochul comes from New York State Homes and Community Renewal's Multifamily Finance RFP, which will be leveraged with other private and federal sources.