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New York invests $11.3 million for low-income households

Staff writer ▼ | December 8, 2015
Governor Andrew M. Cuomo announced that New York State Homes and Community Renewal has awarded nearly $11.3 million in funding for the construction of three affordable housing developments across New York.
New Rochelle
Housing   133 new apartments in Monroe, Tompkins and Westchester Counties
Together, these shovel-ready projects will create a total of 133 new apartments for low- to moderate-income households in Monroe, Tompkins and Westchester Counties.

"Today we are continuing our commitment to build quality, affordable homes and create vibrant communities throughout the state," Governor Cuomo said.

"The Early Award process cuts through bureaucratic red tape and gets shovels in the ground quickly, so that families looking for affordable homes are not left waiting in the wind."

Each of the three projects was funded via the Early Awards program, part of HCR's Unified Funding Application, a single-source, streamlined process to apply for several funding streams for affordable, multifamily developments. Applications were submitted only six weeks ago.

Early Award projects must demonstrate the project will be able to proceed to construction within 120 calendar days of award, or within 150 days of award, if located in the City of New York.

As part of the process, applicants with shovel-ready projects that support state housing goals of revitalization, economic development, mixed-income and mixed-use development, workforce housing, and affordable housing preservation received an accelerated application review.