New York (WRGB) \u2014 Governor Hochul announced nearly $350 million in financing to create or preserve 750 affordable housing units across New York State.<\/p>\n
The funding includes housing bonds and subsidies awarded to five developments in New York City, Long Island, the Capital Region and the Mohawk Valley. Officials say the projects will deliver affordable, supportive and energy-efficient housing while generating more than $529 million in total investment when combined with private funding.<\/p>\n
Hochul said in a statement,<\/p>\n
These investments are another major step forward in our mission to expand housing opportunities in every corner of the state and make New York more affordable. By leveraging public and private resources, we are creating and preserving hundreds of high-quality, energy-efficient homes while strengthening communities and supporting economic growth. This funding is part of our $25 billion Housing Plan and brings us closer to ensuring that every New Yorker has access to a safe, stable and affordable place to live.<\/p>\n
The funding is part of the governor\u2019s $25 billion, five-year housing plan, which aims to create or preserve 100,000 affordable homes statewide.<\/p>\n
According to New York State Homes and Community Renewal, the financing includes $234 million in housing bonds and $114 million in subsidies.<\/p>\n
Where the projects are located:<\/p>\n
New York City$73 million for Taryn Tower in the Bronx, creating 142 affordable apartments$79 million for a new development on Van Sinderen Avenue in Brooklyn, creating 193 apartments, including 116 with supportive servicesLong Island$22 million to rehabilitate a 75-unit senior housing development in Great NeckCapital Region$128 million to renovate 238 apartments across three Cohoes Housing Authority developmentsMohawk Valley$46 million for THRIVE Cornhill in Utica, creating 102 apartments, including units with supportive services<\/p>\n
Officials say the developments will serve households earning between 50% and 80% of the area median income, depending on the project.<\/p>\n
State leaders say the funding will not only expand affordable housing options but also modernize existing units, improve energy efficiency and support vulnerable populations, including seniors and individuals experiencing homelessness.<\/p>\n
Comment with Bubbles<\/p>\n
BE THE FIRST TO COMMENT<\/p>\n
Housing officials say the projects are part of broader efforts to address New York\u2019s housing shortage and rising costs, while continuing progress under the state\u2019s long-term housing plan.<\/p>\n","protected":false},"excerpt":{"rendered":"New York (WRGB) \u2014 Governor Hochul announced nearly $350 million in financing to create or preserve 750 affordable…\n","protected":false},"author":2,"featured_media":139021,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[9,24,55,54,56],"class_list":{"0":"post-192400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-new-york","9":"tag-new-york-city","10":"tag-new-york-city-headlines","11":"tag-new-york-city-news","12":"tag-ny"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/192400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=192400"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/192400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/139021"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=192400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=192400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=192400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}