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$6.2 million for Sanborn Square as part of multimillion affordable homes investment
On Tuesday, Gov. Kathy Hochul announced more than $240 million in tax credits and subsidies was awarded to create and preserve 1,800 affordable, modern homes in 27 housing developments across New York. The awarded projects include housing with supportive services and accessibility features. They are intended to incorporate sustainability measures to keep costs down for residents and help address climate change. Moreover, these developments will “provide homes for people of all ages and phases of life, strengthen communities, and further local economic development efforts.”
Among the awards, $6.2 million was designed for Sanborn Square in the Town of Lewiston for construction of a 50-unit, garden-style affordable housing project developed by Park Grove Development LLC.
Town of Lewiston Supervisor Steve Broderick said, “The town recognizes the need for affordable housing; however, I have concerns that Sanborn is being overrun with these types of projects. Right now, there are three affordable housing projects in the Sanborn area: one in Lewiston that was just awarded $6.2 million, one in the Town of Wheatfield, and one in the Town of Cambria, all with Sanborn mailing addresses.
“I personally don’t believe the infrastructure exists to support all of these projects. There are also concerns with transparency from the developers. As of right now, the only thing the town can do is to make sure that the project is built according to code, as the property is zoned properly for this development.”
The funding is part of Hochul’s $25 billion five-year housing plan, which is on track to create or preserve 100,000 affordable homes statewide, according to her team.
“The housing crisis won’t solve itself. If we want New York to remain a place people can afford to call home, we have to act with urgency,” Hochul said. “That means building more housing in every region and making targeted investments to expand affordable homes for people of all ages and phases of life, including working families, seniors and people living with disabilities.”
The awards are provided through New York State Homes and Community Renewal’s annual Low-Income Housing Tax Credit competitive funding round. Financing includes $66 million from its Federal and State Low-Income Housing Tax Credit programs and $176 million in subsidy loans. Tax credit and subsidy information for each project is available here. When combined with private funding, the projects are expected to generate $1 billion in overall investment.
More than half of the awarded projects will also receive support from agencies including the New York State Energy Research and Development Authority (NYSERDA), Empire State Development, Office of Temporary and Disability Assistance, Office for People with Developmental Disabilities, and Office of Mental Health.
Hochul’s team noted the projects will all achieve high levels of carbon reduction, with some projects receiving funding through HCR’s Multifamily Solar Program that funds the installation of on-site solar arrays, as well as some projects receiving funding for electrification upgrades through HCR’s Clean Energy Initiative. Both programs are funded in partnership with NYSERDA. These investments complement New York’s mission to address climate change by decreasing emissions 85% by 2050.
HCR Commissioner RuthAnne Visnauskas said, “New York is committed to building more affordable housing, and this $240 million investment will provide 1,800 individuals and families the opportunity to find modern and sustainable homes they can afford in every region of the state. These projects show that our commitment to housing goes hand-in-glove with our commitment to the environment and to improving accessibility.”
U.S. Sen. Charles Schumer said, “Every family in New York deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help preserve or build 1,800 homes in every corner of the Empire State. High housing costs are a key driver of inflation, so we must build more housing for working people to bring down those high prices.”
U.S. Sen. Kirsten Gillibrand said, “Too many New Yorkers are being forced out of their communities because of the affordable housing crisis. We must move faster to build the housing people can actually afford. I’m grateful this investment will help create and preserve 1,800 affordable homes across New York, and I’ll keep fighting to expand the housing supply so every New Yorker can find a safe and affordable place to call home.”
Congressman Tim Kennedy said, “I applaud this bold investment in New York’s housing stock, which will help deliver over 100 new affordable homes across Western New York. These developments will provide families, seniors and residents with safe, modern, and energy-efficient housing in every region of our state. This historic investment builds a stronger, more sustainable future for Western New York and cements our state as a leader in the fight to end the housing crisis.”