Newburgh, seen from Beacon, where the state has awarded $49.9 million for The Green, a 122-apartment project. Photo: Daniel Case, CC BY-SA 3.0, via Wikimedia Commons.
A Newburgh housing development known as The Green is in line for $49.9 million in state housing bonds and subsidies to build two buildings with 122 apartments, Gov. Kathy Hochul’s office announced on Oct. 30. The apartments would be affordable to households earning at or below 100 percent of area median income, and the project would include four commercial spaces “expected to become retail establishments, small grocery stores, coffee shops and/or small eateries.” Kearney Realty & Development Group is the developer.
The Newburgh award is part of a statewide package of $872 million for 13 developments that the state said will create or preserve 2,233 affordable, supportive and other homes. Homes and Community Renewal allocated the money from recent bond issuances that provided $460 million in housing bonds and $412 million in subsidies. Mid-Hudson News, tallying the four Hudson Valley projects in the announcement, put the regional total at $246.4 million. The official release described a statewide total of 2,233 homes to be created or preserved; Mid-Hudson News described the statewide figure as 2,200 homes expected to be preserved.
The other Mid-Hudson awards in the same package are $120.3 million for Brookfield Commons Phase III in White Plains, an 11-story building with 168 apartments at or below 90 percent of area median income; $58.2 million for Franklin Courts in Tarrytown, which would replace 70 obsolete public-housing apartments with 90 units at or below 60 percent of AMI, with existing residents retaining the right to return regardless of income; and $18 million for the North White Plains Workforce Transit Hub, 296 mixed-income apartments near the Metro-North station, including 30 income-restricted homes for households earning between 50 and 110 percent of AMI.
The awards are part of the governor’s $25 billion five-year housing plan, which the state said is on track to create or preserve 100,000 affordable homes, with nearly 90,000 already created or preserved. Hochul said the investments “will help families find homes near transit, give seniors opportunities to remain in their communities and connect vulnerable residents with the support they need to live independently.”
Add Observer Chronicle as a preferred source on Google (opens in a new tab)
