DHCR and "nyhomes" Announce $29 Million in Affordable Housing and Community Renewal Awards for NYC and Suburbs

ALBANY, NY (08/27/2010)(readMedia)-- The State Division of Housing and Community Renewal (DHCR) and "nyhomes" today announced $29 million in awards for communities in the New York City area. The awards will help to develop affordable housing and revitalize downtowns. The awards will leverage an additional $155 million from other private and public sources, bringing a total of $184 million in economic activity to the downstate region.

The funding will help to:

• build or rehabilitate 600 affordable housing units for working families, seniors, and people with disabilities, including 120 units of supportive housing with services, and

• create 38 commercial units to revitalize the central business districts of four cities, towns, villages

Additionally, the awards are expected to create or support more than 300 jobs, according to an economic impact formula from the National Association of Home Builders.

Governor Paterson said, "Increasing access to quality affordable housing, revitalizing Main Streets, and improving the State's infrastructure are all critical components of New York's economic recovery and job-creation efforts. Our investment will leverage millions more from our partners in the private sector and Federal and local governments."

Brian Lawlor, Commissioner of DHCR and President/CEO of "nyhomes" said, "The awards approved today will assist projects that have been true collaborative efforts, using resources from State, local, Federal agencies as well as private sector investments. As we proceed with the integration of the state's major housing agencies, coordinating scarce resources will help us to more efficiently deliver our programs and services to more New Yorkers, enhancing their impact while lowering costs."

Lawlor said the award process this year presented a number of challenges, including heightened competition from a large number of high-quality projects and decreased funding, due to the state's economic condition. Statewide, more than 400 applications for funding were received, and awards were granted to 130 projects.

Highlights include:

• Sophia's House in Manhattan. Sisters of Charity Housing Development Corporation received $2.4 million in funding and $1.1 million in Low Income Housing Credits (which will generate $9.5 million in equity). The development is a New York New York III project and is done in collaboration with the NYC Department of Health and Mental Hygiene and the NYC Department of Housing Preservation Development's How Income Rental Program. It will provide 50 affordable units and support services for low-income people and those with mental illness and chemical addictions. Apartments will feature Energy-Star appliances, a library, computer room, and laundry facilities.

• Maple Center Senior Housing in New Rochelle. Maple Center LLC. received $1.1 million in state and federal Low Income Housing Credits (which will generate $8.5 million in equity). The development is the preservation and rehabilitation of a 12-story building with 109 apartments for low-income seniors and frail elderly. Amenities will include outdoor patio/garden space, a computer lab and community room, and Energy Star appliances.

New York City area communities will also benefit from four awards through the NY Main Street program, totaling $1.8 million, which will leverage additional funding and generate a total of $27.6 million in economic activity.

The NY Main Street program is eligible to local governments and not-for-profit agencies to stimulate reinvestment in mixed-use "Main Street" buildings and neighborhoods. The grants can be used to foster small business development, provide jobs and economic opportunities, expand affordable housing opportunities and preserve and encourage adaptive reuse of downtown buildings.

One of the NY Main Street grants, $300,000 for the Restore Church Avenue Program in Brooklyn, will assist mixed-use buildings on Church Ave. from East 16th to East 19th Streets. The award will leverage an additional $750,000 to produce eight commercial units to help revitalize the Church Avenue neighborhood.

A full list of awards by county is available at:

Capital Awards:

http://nysdhcr.gov/Funding/Awards/UnifiedFunding/2010/

NYS CDBG awards:

http://nysdhcr.gov/Funding/Awards/NYSCDBG/2010/

NY Main Street awards:

http://nysdhcr.gov/Funding/Awards/NYMS/2010/