ALBANY – Gov. Kathy Hochul on Friday announced that four housing projects in the Hudson Valley will receive a total of $246.4 million in funding for affordable housing.
Brookfield Commons Phase III in White Plains, developed by Trinity Financial and the White Plains Housing Authority, will receive $120.3 million toward construction of an 11-story building with 168 apartments affordable to households earning at or below 90% of the area median income.
Franklin Courts in Tarrytown, developed by WBP Development and Duvernay + Brooks in partnership with the Tarrytown Municipal Housing Authority, will receive $58.2 million to replace 70 obsolete public housing apartments with 90 units serving households earning at or below 60% of the area median income. Current residents will retain the right to return regardless of income.
The Green in Newburgh will receive $49.9 million to construct two buildings with 122 apartments affordable to households earning at or below 100% of the area median income. The project will also include four commercial spaces for businesses such as small grocery stores, coffee shops and eateries. It is being developed by Kearney Realty and Development Group.
The North White Plains Workforce Transit Hub in White Plains will receive $18 million for construction of 296 mixed-income apartments near the North White Plains Metro-North station. The project will include 90 income-restricted homes for households earning between 50% and 110% of the area median income. BRP Companies is developing the project.
Statewide, the funding totals $872 million and is expected to preserve 2,200 affordable homes.
The state’s enacted fiscal year budget completed Hochul’s five-year housing plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, as well as the electrification of an additional 50,000 homes.
Nearly 90,000 affordable homes have been created or preserved to date.
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