STATEN ISLAND, N.Y. — A pair of Staten Island affordable housing developments will receive millions in state funds to help preserve nearly 1,200 homes.
The Park Hill development’s 1,100 units in Clifton will receive $50 million and the 80 units at Sea View’s St. Elizabeth Manor will receive an $11 million investment as part of Gov. Kathy Hochul’s $2 billion in housing bonds and subsidies.
“These investments reflect my commitment to creating quality, modern homes that enrich communities and are making New York more affordable for a wide array of households, including families and seniors,” Hochul said. “By coupling State financing tools with private resources, we are generating more than $3 billion in overall investment that will improve neighborhoods, reduce energy costs and provide thousands of affordable housing options across every region of the State.”
Rep. Nicole Malliotakis, a Republican representing Staten Island and South Brooklyn; State Sen. Jessica Scarcella-Spanton, a Democrat representing the North Shore and part of South Brooklyn; and Councilmember Kammillah Hanks, a Democrat representing the North Shore, announced the state Park Hill funds last week as part of a larger $165 million government investment that promises a transformation at the long-troubled development.
Part of the deal includes a new ownership group comprised of ArkerCompanies, LIHC Investment Fund, and L+M Development Partners who will be responsible for rehabilitating the development for people at 80% of the area median income.
The funds for St. Elizabeth Manor will be provided to the Sisters of Charity Housing Development Corporation, which operates the site for seniors up to 30% of the area median income.