A $152 million renovation of 341 public housing apartments across four Troy complexes is complete, Gov. Kathy Hochul announced. The work upgraded homes at Corliss Park, Grand Street, Margaret Phelan and Catherine Sweeney apartments while keeping them affordable to households earning up to 60% of the area's median income.
The project is the second and final phase of a partnership between the Troy Housing Authority and MDG Real Estate Partners to rehabilitate 732 public housing units. It follows work at the 391-unit Griswold Heights complex, completed last year, and renovations at the 141-unit Taylor Apartments. Other housing authority rehabilitation projects remain underway.
Residents moved into vacant housing authority apartments while their homes were renovated. All tenants had the right to return afterward without a rent increase, according to the governor's office.
The completed apartments range from studios to four-bedroom homes. Twenty units accommodate residents with mobility disabilities, and eight accommodate residents with sensory disabilities.
What changed at the four complexes
Inside, crews installed new flooring, kitchen and bathroom fixtures, and lighting. Outside, the project added three playgrounds and new landscaping. The historic facades of Corliss Park and Grand Street were preserved, while the exteriors of Margaret Phelan and Catherine Sweeney apartments were modernized.
The renovation replaced appliances and central building systems with more energy-efficient equipment. Homes now have electric heat pumps for heating and cooling, LED lighting and high-efficiency hot-water systems, along with low-flow kitchen and bathroom fixtures.
The combined upgrades are expected to cut energy use across the buildings by more than 20%, state officials said. That figure is a projection, not a measured post-renovation result.
The state said the developments are near public transportation, schools, parks and museums. Officials did not announce a new application window or provide a current vacancy count with the completion notice.
How the $152 million project was financed
The financing package combines public and private funds. Federal Low-Income Housing Tax Credits administered through New York State Homes and Community Renewal are expected to generate more than $59 million in equity, and the agency is providing $48 million in subsidy.
Another $1 million comes from the Clean Energy Initiative, a partnership between Homes and Community Renewal and the New York State Energy Research and Development Authority. Federal and state historic tax credits are expected to generate about $20 million in equity for the preservation work.
JPMorganChase provided a letter of credit supporting the redevelopment, according to the state. The governor's announcement did not give a full source-by-source accounting of every dollar in the $152 million project total.
Hochul said preserving public housing is part of her administration's broader effort to maintain affordable homes. Homes and Community Renewal says it has created or preserved more than 1,300 affordable homes in Rensselaer County under her administration.
Part of a larger Troy housing effort
The housing authority's rehabilitation program extends beyond the 732 units in its two portfolio bundles. Taken with Taylor Apartments and other work, the authority aims to preserve and revitalize more than 1,000 public housing units in Troy, the governor's office said.
The state's five-year, $25 billion housing plan calls for creating or preserving 100,000 affordable homes statewide. The governor's office said more than 87,000 have been created or preserved so far; the Troy project is one component of that statewide total.
Troy Mayor Carmella Mantello said the renovations are intended to give families safer, more comfortable homes. Housing authority Executive Director Deborah Witkowski said the agency plans to carry the same approach into additional projects. Neither official announced a timetable for the remaining work.
Residents seeking housing authority information should contact the Troy Housing Authority directly. The completion announcement did not change the stated income limit or describe a new enrollment process for the renovated apartments.
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