New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas\u00a0today announced the\u00a0start of construction on Lansing Fields, a 12-unit affordable homeownership development in the city of Troy, Rensselaer County. The $5.7\u00a0million project,\u00a0located\u00a0in\u00a0Troy\u2019s Lansingburgh neighborhood, will\u00a0create\u00a0a dozen new\u00a0single-family\u00a0townhomes.\u00a0Under Governor\u00a0Kathy\u00a0Hochul\u2019s leadership, HCR has created or preserved more than\u00a07,300\u00a0affordable homes in the Capital Region, including\u00a0550 affordable homeownership opportunities. Lansing Fields continues this effort and\u00a0supports\u00a0Governor Hochul\u2019s $25 billion five-year Housing Plan, which is on track to create or preserve 100,000 affordable homes statewide.\u202f\u202f\u00a0<\/p>\n
\u201cLansing Fields\u00a0is\u00a0a blueprint for what is possible\u00a0when government and\u00a0the\u00a0private\u00a0sector\u00a0collaborate to\u00a0create\u00a0homeownership\u00a0opportunities\u00a0for a new generation,\u201d Commissioner Visnauskas said.\u00a0\u201cThanks to\u00a0the\u00a0tireless\u00a0efforts of our\u00a0historically\u00a0pro-housing Governor,\u00a0twelve\u00a0families will get their well-deserved shot at the American dream.\u00a0We are grateful to our development partners for their dedication to this project\u00a0and\u00a0for\u00a0bringing\u00a0affordable and energy-efficient\u00a0homes to the city of Troy.\u201d\u00a0<\/p>\n
Developed by\u00a0Redburn Development Partners,\u00a0the newly\u00a0constructed\u00a0rowhouse-style\u00a0homes at\u00a0Lansing Fields will\u00a0be affordable to\u00a0homebuyers earning up to 80 percent of the\u00a0Area\u00a0Median\u00a0Income.\u00a0Troy Rehabilitation and Improvement Program\u00a0will\u00a0assist\u00a0with marketing and outreach\u00a0and\u00a0provide homeownership counseling.\u00a0<\/p>\n
Each of the\u00a012\u00a0townhomes\u00a0will\u00a0have\u00a0three bedrooms,\u00a02.5 bathrooms,\u00a0and\u00a0a backyard.\u00a0The development\u00a0will\u00a0incorporate\u00a0high-efficiency heat pumps and energy recovery ventilation systems. Each home will also include\u00a0energy-efficient appliances and\u00a0infrastructure to support future rooftop solar installation, helping reduce long-term energy costs for residents.\u00a0<\/p>\n
The project is\u00a0located\u00a0on\u00a0a\u00a0vacant site\u00a0that\u00a0was previously a\u00a0football field\u00a0associated with the former Catholic Central\u00a0High School. The school building was\u00a0recently redeveloped into\u00a0market-rate\u00a0apartments\u00a0by\u00a0Redburn.\u00a0Homes are\u00a0expected to be\u00a0sold for approximately\u00a0$260,000. The\u00a0Lansingburgh neighborhood\u00a0offers\u00a0easy\u00a0access to schools, transit,\u00a0public\u00a0parks,\u00a0retail,\u00a0and\u00a0employment centers across the Capital Region,\u00a0making it an attractive location for first-time homebuyers.\u00a0<\/p>\n
Financing for Lansing Fields includes\u00a0a mix of public and private sources, including\u00a0$2.6\u00a0million from HCR\u2019s Affordable Homeownership Opportunity Program, which provides financing to housing developers to create affordable single-family houses,\u00a0condos,\u00a0and co-ops.\u00a0Additional\u00a0financing\u00a0includes\u00a0$2.2\u00a0million from the Community Preservation Corporation.\u00a0<\/p>\n
The Affordable Homeownership Opportunity Program is one of\u00a0HCR\u2019s\u00a0many efforts to advance affordable homeownership, including MOVE-IN NY,\u00a0Affordable Home Ownership Development Program,\u00a0Block by Block,\u00a0and\u00a0the\u00a0State of New York Mortgage Agency\u2019s suite of homebuyer mortgage programs.\u00a0<\/p>\n
Redburn Development Partners President Elizabeth Young Jojo said,\u00a0\u201cAt Redburn, much of our work is centered around three things: saving and repurposing historic buildings, advancing green energy and environmental stewardship, and helping bridge the gap between traditional affordable housing and market-rate housing. Lansing Fields brings\u00a0all of\u00a0those ideas together in a new way for us. We have spent years working to make quality rental housing more attainable. With this project,\u00a0we\u2019re\u00a0taking the logical next step and working to make homeownership more attainable as well.\u201d\u00a0\u00a0<\/p>\n
The Community Preservation Corporation Managing Director, Head of Albany Region Jaime Tuozzolo said,\u00a0\u201cAt CPC,\u00a0we\u2019re\u00a0focused on expanding access to affordable homeownership in communities where rising costs continue to put that opportunity out of reach. Lansing Fields will bring new, energy-efficient homes to Troy and help more families build long-term stability through ownership. We are grateful to our partners at HCR and our local partners for their\u00a0collaboration in making this project possible.\u201d\u00a0<\/p>\n
Governor Hochul\u2019s Housing Agenda\u202f\u00a0<\/p>\n
Governor Hochul is dedicated to addressing New York\u2019s housing crisis and making the State more affordable and livable for all New Yorkers. Since FY23, the Governor has worked to increase housing supply to make housing more affordable by launching a $25 billion five-year comprehensive Housing Plan, enacted the most significant housing deal in decades and implemented new protections for renters and homeowners. Under Governor Hochul\u2019s leadership, HCR has created\u00a0new programs\u00a0that jumpstart development of affordable and mixed-income homes for both renters and homebuyers. These include the Pro-Housing Community Program, which allows certified localities exclusive access to up to $750 million in discretionary State funding.\u00a0There are currently 450 certified Pro-Housing communities throughout the state, including the city of Troy,\u00a0and more in progress.\u202f\u00a0<\/p>\n
Governor Hochul\u2019s \u201cLet Them Build\u201d agenda will speed up housing and infrastructure development while lowering costs through a series of landmark\u00a0reforms. Common-sense changes to New York\u2019s Environmental Quality Review Act (SEQRA) in the FY 2027 Enacted Budget as well as executive actions will expedite critical categories of projects that have been consistently found to not have significant environmental impacts, but for too long have been caught up in red tape and subject to lengthy delays.\u202f\u00a0<\/p>\n
The enacted FY27 Budget completes the Governor\u2019s current five-year Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations plus the electrification of an\u00a0additional\u00a050,000 homes.\u202fClose to 86,000 affordable homes have been created or preserved to date.\u202fThe Budget also invests $250 million in capital funding to accelerate the construction of thousands of new affordable homes. The enacted FY27 budget also further reinforces critical protections for tenants and homeowners.<\/p>\n","protected":false},"excerpt":{"rendered":"New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas\u00a0today announced the\u00a0start of construction on Lansing Fields,…\n","protected":false},"author":2,"featured_media":319723,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10],"class_list":["post-319722","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/319722","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=319722"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/319722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/319723"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=319722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=319722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=319722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}