The Homes and Community Renewal Connection

Dear Partners and Friends,

As 2021 comes to a close, I wanted to share with you some highlights of our work this past year as we've strived to recover from the COVID pandemic and reverse the damage this crisis has inflicted on those already struggling with homelessness and housing insecurity. Through it all, HCR has remained steadfast in our mission to build and preserve the affordable homes that New Yorkers desperately need. Thanks to the hard work of our state and local leaders, our many partner organizations, and HCR’s dedicated, talented staff, we are improving the lives of New Yorkers every day. Watch the video linked below to learn how.

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Top News

Governor Hochul Launches Homeowner Assistance Fund

Governor Kathy Hochul announced that New York State is the first state in the nation to receive U.S. Department of the Treasury's approval to launch its Homeowner Assistance Fund, a program that will provide up to $539 million to help eligible homeowners avert mortgage delinquency, default, foreclosure, and displacement. HCR will administer the program and applications open on Monday, January 3, 2022.

To learn more, visit the HAF website or contact the New York State Homeowners Assistance Fund call center at 1-844-77-NYHAF.

Development Highlights

New Construction in the Bronx

HCR celebrated the grand opening of the $91 million Arthur Avenue Apartments, a highly energy efficient and health-oriented development for seniors in the Belmont neighborhood of the Bronx. The building features an interior greenhouse with a teaching kitchen and a vegetable garden.

LGBT-Friendly Senior Housing in Bayshore

Construction is now complete on the $30 million Bayshore Senior Residence in Long Island. The development provides 75 affordable homes for adults 55 and up and a brand-new LGBT-friendly senior center.

Rehabilitation and Preservation in Syracuse

The $22 million rehabilitation of the Winston Gaskin Homes in Syracuse modernized 20 buildings with 66 homes for families across the city’s north and eastside neighborhoods.

Revitalizing Schenectady

The Renaissance Square Apartments converted a century-old school into 25 energy efficient apartments with the structure's original architectural elements carefully preserved.

Housing That Fights Climate Change

New York’s Climate Leadership and Community Protection Act has set a target of achieving an 85 percent reduction in greenhouse gas emissions by 2050. To meet this goal, HCR is requiring all new developments to meet rigorous standards for energy efficiency and sustainability.

In partnership with NYSERDA, HCR launched the $7.5 million Clean Energy Initiative to provide streamlined access to technical assistance and funding for the development of energy efficient, all-electric multifamily housing.

Construction is underway on Asteri Ithaca, a $96 million redevelopment of a parking garage in downtown Ithaca into an all-electric, state-of-the-art conference center and 181 affordable and supportive apartments.

Awards and Honors

HCR's Give Us Credit homeownership program won a first-place award for program excellence from the National Council of State Housing Agencies, the country’s foremost industry group for HFAs. The Give Us Credit program encourages lenders to use non-traditional measures of credit history in considering whether borrowers are mortgage-worthy. Learn more here

The Preservation League of NYS named three HCR-supported projects as 2021 Excellence in Historic Preservation Award Winners for preserving and uplifting New York’s rich history and making our state an even better place to live. Read more about these projects below.

The Clinton Avenue Historic Apartments in Albany renovated 70 historic row houses along Clinton Avenue and Ten Broeck Street and created 210 affordable apartments.

The rehabilitation of vacant historic buildings in downtown Elmira created the Gerard Block Apartments, a mixed-use development with apartments, storefronts, and artist studios. (Photo credit Molly Cagwin).

HCR's $2 million award contributed to the adaptive reuse of the National Biscuit Company bakery into the new home for the Capital Repertory Theatre in Albany.

The New York State Association For Affordable Housing named Jefferson Avenue Apartments in Buffalo the 2021 Upstate Project of the Year, developed by People, Inc.

The New York Housing Conference named The Corden in the Bronx its 2021 Community Impact Competition winner, developed by New Destiny Housing.

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