The planned renovations at McCarley Gardens Apartments will improve energy efficiency and enhance overall quality of life for 149 families while maintaining affordable rents.
McCarley Gardens Apartments is part of Governor Hochul's sweeping plans to make housing more affordable, equitable, and stable.
This year, the State is poised to reach the goal of its current Housing Plan of creating and preserving 100,000 affordable homes and 6,000 with support services.
Governor Hochul is building on this successful effort with a proposal for a new $25 billion, five-year Housing Plan that will create and preserve an additional 100,000 affordable homes in urban and rural areas across New York including 10,000 with support services.
McCarley Gardens Apartments consists of 21 townhome-style buildings that were built in 1978, now in need of improvement. As part of the rehabilitation project, four additional two-story townhome buildings will be constructed on the campus.
When work is complete, the development will offer 27 two-bedroom apartments, 94 three-bedroom apartments and 28 four-bedroom apartments. All 149 apartments are affordable for households with incomes at or below 60 percent of the Area Median Income.
The scope of renovations will include the installation of new kitchens with upgraded appliances, fixtures, cabinets, and countertops; new low-flow bathroom fixtures; and cosmetic upgrades that include new flooring and new paint. Site work will include replacement of storm and sewer lines, repaving parking areas, new sidewalks, and landscaping.
To improve energy efficiency, each building will receive upgraded insulation, new windows, Energy Star-rated appliances, and high-efficiency boilers and hot water heaters where needed. The renovations are expected to reduce overall energy usage by approximately 29 percent.
Residential amenities include free parking for residents, a playground, and a 900 square foot community room.
McCarley Gardens campus is adjacent to the Buffalo Niagara Medical Campus and Buffalo’s central business district and will serve Buffalo’s essential workers with high quality, affordable housing options within walking distance of their workplace.
The development team consists of St. John’s Baptist Church, BFC Partners and Sinatra & Co. Real Estate. State financing includes $10.2 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated $24.3 million in equity and $9 million in subsidy from New York State Homes and Community Renewal. The New York State Energy Research and Development Authority will provide $94,500 in support. Additional financing is being provided through subordinated debt and a deferred developer fee. ■