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Local News

May 7, 2013

State offers help for 3 area housing projects

Three affordable-housing projects in Delaware, Chenango and Schoharie counties have been selected for state support through low-interest loans and tax credits.

Gov. Andrew M. Cuomo announced $91 million in 33 awards for shovel-ready projects to build affordable housing across the state, a media release said. The low-interest loans and tax credits will build and preserve 2,060 units of affordable housing and are expected to leverage more than $485 million in grants, loans and private resources.

The local projects and level of assistance are:

• Lakewood Development LLC received $3 million for Norwich Shoe Apartments in Chenango County. The project is to demolish four blighted buildings and construct 34 rental units for low-income individuals and families, with seven units set-aside for persons with developmental disabilities. The housing complex will be located adjacent to the city of Norwich's Business Improvement District, and the project is a coordinated investment with the state Office of People with Developmental Disabilities.

• Also, Lakewood Development has been earmarked almost $3 million to build 32 affordable units in Sidney, Delaware County, according to a chart reporting 2013 awards. Other details about the project weren't immediately available Tuesday night from state or development officials.

• In Schoharie County, Birchez Associates LLC & Omni Housing Development LLC were designated for $3.9 million for Birches at Schoharie, which is for construction of 71 rental units for low- and moderate-income seniors in the village of Schoharie, a community devastated by Tropical Storms Lee and Irene.

Funds for the awards were available through the state Homes & Community Renewal's Unified Funding Application, a single-source process to apply for several funding streams for affordable, multifamily developments.

 

 

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