New York State allocates $412 million to expand and preserve affordable housing

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Building G of the Marcus Garvey Extension Project Phase 2

New York Construction Report staff writer

New York State is investing $412 million in bonds and subsidies, aiming to create and preserve about 1,100 affordable homes in New York City, the Finger Lakes, and the Hudson Valley. Six projects receiving funding align with New York’s commitment to providing safe, secure, and healthy housing opportunities for individuals and families.

The awards are part of a $25 billion plan to create or preserve 100,000 affordable homes across New York State.

Awarded projects:

Brooklyn:

  • Innovative Urban Village Phase 1a: $170.3 million for constructing 385 affordable homes in East New York, including 94 supportive units for homeless families.
  • Marcus Garvey Extension Phase 2: $82.8 million for constructing 178 affordable homes in Brownsville. Eighty-eight apartments will be reserved for individuals in need of supportive services.

Bronx:

  • La Olazul: $54.1 million for constructing 115 affordable homes in Mount Hope, with 69 supportive units for homeless adults and families.
  • Jericho 158: $51.8 million for constructing 129 affordable homes in Melrose, with 78 supportive units for homeless adults and young adults.

Ontario County:

  • Sunlight Lane Apartments: $15.2 million for constructing 78 affordable homes in Geneva. This net-zero development will be fully electric with rooftop solar panels.

Ulster County:

  • Ulster Portfolio: $37.9 million for rehabilitating three properties to preserve 212 affordable homes in the city of Kingston and the towns of Saugerties and Ulster.

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