New York Construction Report staff writer
Construction is underway on the South Street Apartments, a $27 million, 70-unit affordable housing development in downtown Glens Falls, Warren County. The project is part of the city’s ongoing revitalization efforts and will include accessible and supportive housing, along with a new SUNY Adirondack satellite space on the building’s first floor.
The five-story, all-electric building is being developed by Bonacio Construction and supported by New York State Homes and Community Renewal (HCR).
“South Street Apartments is emblematic of what we’re accomplishing in New York’s Pro-Housing Communities — creating more affordable housing for today’s workforce, providing resources that help support vulnerable residents in their homes and revitalizing our downtowns both big and small,” Gov. Kathy Hochul said in a statement. “With the addition of a State University of New York space within the building, we’re also prioritizing education and job training by making it more accessible to those who live in and around the city.”
The development will serve individuals and families earning between 30 and 70 percent of the area median income. Five units will be reserved for people with developmental disabilities, supported by rental subsidies and services funded through the New York State Office for People With Developmental Disabilities. Six additional units will house homeless youth under the Empire State Supportive Housing Initiative, with services and rental support provided by the Office of Temporary and Disability Assistance.
On-site services will be offered by Community, Work and Independence, Inc. and WAIT House. SUNY Adirondack will use its ground-floor space for healthcare workforce development programs, supported by the Department of Health’s Healthcare Education and Life-skills Program (HELP) awards.
Amenities for residents will include a fitness center, outdoor courtyard, fenced playground, and on-site parking, with additional parking available through a municipal agreement for nearby garage access. Several units will be designed to accommodate residents with mobility, hearing, or visual impairments.
The project builds on Glens Falls’ Downtown Revitalization Initiative (DRI), which has supported redevelopment along South Street, including Bonacio’s renovation of nearby historic structures into market-rate apartments and commercial spaces, and the Events Downtown Center.
HCR’s financial support for the South Street Apartments includes $13.8 million in equity from the Low-Income Housing Credit Program, $3.1 million from the New York State Low-Income Housing Tax Credit Program, $3.6 million from the Low-Income Housing Trust Fund, $689,489 from the Rural and Urban Community Investment Fund, and $385,000 from the Clean Energy Initiative Program. The city of Glens Falls is also contributing through a property tax abatement.
