A vacant Fairport building will be converted into 69 senior apartments with $9.4 million in state financing, part of a broader housing package that also includes two major Syracuse developments.
Gov. Kathy Hochul announced $872 million in housing bonds and subsidies, which her office said would create or preserve more than 2,200 homes statewide. The package includes $460 million in housing bonds and $412 million in subsidies through New York State Homes and Community Renewal, according to the announcement.
Fairport project will serve older residents
CDS Monarch will acquire and rehabilitate the building for CDS Meadowside Apartments. The 69 apartments will serve households earning no more than 60% of area median income and include supportive housing for older adults.
In Syracuse, Parkside Commons Phase I will receive $160 million to rehabilitate 200 apartments and build 194 more. BFC Partners and SAA|EVI are developing the 394-unit project for households earning no more than 60% of area median income.
Maria Regina Gardens will receive $69.1 million to convert a historic convent campus into 155 senior apartments. Home Leasing and Pennrose are developing the Syracuse project for households earning no more than 80% of area median income. It includes 24 supportive apartments for frail older adults and 12 apartments for older adults with intellectual and developmental disabilities.
Awards support new construction and preservation
Other funded projects include $103 million for 165 apartments at ICL-Variety Residences at Astoria in Queens, including 71 supportive homes for young people leaving foster care, and $98.6 million for Findlay House in the Bronx. The latter will rehabilitate 227 senior apartments and add 12, with 25 reserved for residents receiving developmental-disability services.
Bridge Inwood in Manhattan will receive $70.3 million for 190 apartments, including 121 supportive units. Concourse Village in the Bronx will receive $14.2 million for structural repairs at its six-building Mitchell-Lama cooperative. Franklin Lafayette in Brooklyn will receive $3 million to acquire and preserve four buildings containing 57 apartments.
In Westchester County, Brookfield Commons Phase III in White Plains will receive $120.3 million for 168 apartments. Franklin Courts in Tarrytown will receive $58.2 million to replace 70 obsolete public housing apartments with 90 units; existing residents retain a right to return regardless of income.
The North White Plains Workforce Transit Hub will receive $18 million for 296 mixed-income apartments near Metro-North, including 90 income-restricted homes. The Green in Newburgh will receive $49.9 million for 122 apartments and four commercial spaces. Liberty at Saratoga will receive $98.3 million for 216 apartments, including 10 supportive homes for young people leaving foster care.
Affordability limits vary by development. The Astoria, Maria Regina and Saratoga projects generally serve households at or below 80% of area median income; Findlay House, Bridge Inwood, Franklin Courts and Parkside Commons use 60% limits. Brookfield Commons uses a 90% limit, while Franklin Lafayette and The Green use 100%. The transit-hub restricted units serve households between 50% and 110%.
The state said the developments, combined with private financing and other resources, are expected to generate more than $1.5 billion in investment. The awards are part of its five-year, $25 billion housing plan. They are financing commitments, not announcements that the apartments are complete or available for immediate occupancy.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to news@fingerlakes1.com.
