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August 2022 Edition

The Homes and Community Renewal Connection

Top News

Housing Plan

Governor Hochul Signs Legislation to Strengthen Housing Affordability for New York Seniors and Families

Governor Hochul recently signed a legislative package aimed at expanding tax relief for New York homeowners, particularly those age 60 and older, and improving the Residential Emergency Services to Offer Repairs to the Elderly (RESTORE) program.

HCR's RESTORE program provides financial resources for senior homeowners to make repairs that allow them to continue living independently in their homes. 

The package also includes an extension, through 2028, of a law allowing local municipalities to provide a property tax exemption for first-time homebuyers purchasing newly constructed homes.

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Governor Hochul East Buffalo

Governor Hochul Announces Applications Open for Comprehensive Programs Supporting Residents of East Buffalo  

In June, Governor Hochul announced $50 million in targeted investments supporting residents of East Buffalo.

Applications are now being accepted for the East Side Commercial Districts Program, which is creating an expanded building renovation program, as well as the Buffalo East Homeowner Assistance Fund, Buffalo East Home Improvement Program, and East Buffalo Down Payment Assistance Plus Program

Interested residents of East Buffalo can call 211 for information on these housing programs and small business grants and how to apply.

Governor Hochul Announces $682 Million in Financing for Affordable Housing

HCR's $682 million June bond issuance will create more than 1,600 affordable, sustainable and supportive homes across the state.

The 11 developments receiving financing will also leverage an additional $218 million in private funding to create an overall investment of more than $900 million to further local economic development efforts, reduce homelessness, and advance New York's commitment to expanding safe, secure and healthy housing opportunities for individuals and families.

Read more about our upcoming projects here.

Development Highlights

Over the past two months, HCR has opened or announced the start of construction on 17 multifamily developments across the state. Read below for some highlights. 

Starhill Phase I

Starhill Phase I

In July, Governor Hochul joined New York City Mayor Adams to break ground on Starhill Phase I, a $189 million development in the Morris Heights section of the Bronx that will feature 326 affordable apartments, including 200 with supportive services for individuals experiencing homelessness.

Harbor View Square

Harbor View Square

Construction is now complete on Harbor View Square, a $26 million project which transformed an underutilized city-owned brownfield site in downtown Oswego into a mixed-income, mixed-use development with 75 apartments and 10,000 square feet of commercial space.

Ithaca Housing Authority Redevelopment

Ithaca Housing Authority Redevelopment

Governor Hochul announced a $75 million project to upgrade and preserve two outdated Ithaca Housing Authority properties and to replace another obsolete Authority property. The redevelopment is designed to be all-electric and was awarded funding through the Clean Energy Initiative program for multifamily buildings.

Kingsley House

Kingsley House

Commissioner Visnauskas celebrated the completed rehabilitation of Kingsley House, a Mitchell-Lama complex in White Plains with 163 senior households. The $36 million rehabilitation included safety and energy-efficiency upgrades, as well as substantial renovations to all apartments.

Three Mile Harbor

Three Mile Harbor

Commissioner Visnauskas broke ground on Three Mile Harbor, a $33 million development which will provide 50 critically-needed workforce apartments for families in the high-performing East Hampton Union Free School District.

Harison Place

Construction began in July on Harison Place in Franklin County's village of Malone. The $22 million mixed-use complex will replace a row of blighted buildings on Main Street with 40 affordable apartments and five commercial spaces.

270 on East

270 on East

HCR and Rochester officials celebrated the grand opening of 270 on East, the latest affordable housing development on the Flower City's Inner Loop. The $31 million development features 112 affordable apartments, including 55 with supportive services for seniors and veterans.

Pilgrim Village

Pilgrim Village

Construction has begun on side-by-side affordable housing developments with 237 apartments for families and seniors in the Fruit Belt area of East Buffalo. The $58 million Pilgrim Village Family and the $35 million Pilgrim Village Senior are designed to achieve net-zero energy standards.

Funding Opportunities

HCR's $50 million Land Bank Initiative is the first-ever dedicated source of state funding to help New York's land banks reduce blight and transform vacant properties. Incorporated land banks can apply online through September 14, 2022 for Phase I of the initiative which makes $15 million available to assist in land bank operations. 

Up to $14.9 million in state housing resources are now available through the HOME, RESTORE, ACCESS to Home programs and the Manufactured and Mobile Housing Replacement (MMHR) program. Applications will be accepted through September 23, 2022. Learn more.

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