More than $16.5 million for affordable housing in New York State
In addition to increasing the State's supply of affordable housing, these four shovel-ready projects are helping rebuild communities affected by natural disasters, create supportive housing for people with special needs, and develop workforce housing close to transportation options. This round of awards will also leverage $47.1 million in investment from other funding sources.
"All New Yorkers should have a safe and decent place to call home, and today we're taking another step toward making that goal a reality," Governor Cuomo said.
"This funding is jumpstarting affordable housing projects that are shovel-ready and designed to meet the needs of their communities. I am proud that we are helping to build these affordable housing options, because they are making New York an even better place to live and work."
These four projects utilized New York State Homes and Community Renewal's (HCR) Unified Funding Application, a single-source, streamlined process to apply for several funding streams for affordable, multifamily developments.
As part of this process, applicants with shovel-ready projects that supported state housing goals of revitalization and economic development, mixed-income and mixed-use development, workforce housing, and affordable housing preservation received an accelerated application review.
These latest awards come from a pool of $190 million announced by Governor Cuomo earlier this year. In addition to today's awards, two projects in Broome and Madison Counties received funding for critical disaster relief developments in October. ■