New York

$16M awarded to affordable housing developments in Albany

ALBANY, N.Y. (NEWS10) — Governor Kathy Hochul has awarded $16.1 million to two affordable housing developments in Albany. Overall, $145 million was awarded to 21 housing developments all through New York.

“This $145 million investment renews our commitment to creating and preserving the safe, healthy and affordable homes that New Yorkers deserve,” stated Hochul. “Our best strategy for recovery from the pandemic is ensuring that everyone has a solid roof over their head and access to the services they need to remain securely housed. With the inclusion of additional resources for clean energy development and requiring free broadband access, we are building back better than before by creating housing that promises a stronger, greener and more equitable New York today and for the future.”

$13.6M going towards changing Capital Region bridges


In Albany, $9.1 million goes to Steamboat Square. The growth will embrace the rehabilitation of 51 Albany Housing Authority residences and create a further 37 houses in Albany’s Capital South neighborhood. Fourteen residences might be reserved for homeless adults who could have entry to on-site supportive providers.

Empire State Development is offering funding to renovate two industrial areas presently occupied by nonprofit organizations. Additional funding from the Clean Energy Initiative will assist present heating, cooling and sizzling water from floor supply warmth pumps.

Cohoes awarded nearly $3M for enchancment tasks

Clinton Avenue Historic Apartments II in Albany can be receiving $7 million. The challenge consists of the redevelopment of six rowhouses, a former college and a three-story mixed-use constructing to create 62 affordable houses. The challenge will embrace area for a brand new enterprise incubator funded in half by Empire State Development. The growth has additionally acquired funding from the Clean Energy Initiative to assist the development of 32 all-electric residences.


The awards are being offered by means of New York State Homes and Community Renewal’s Multifamily Finance RFP. A full listing of awards can be found on the New York State website.

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