Gov. Kathy Hochul on May 29 announced $67 million in state funding for housing and infrastructure projects related to new housing developments in Westchester and the Hudson Valley. The funding is part of the $150 million that Hochul last year announced would be spent under the Mid-Hudson Momentum Fund, designed to help increase the housing supply in the Mid-Hudson region.
The governor indicated that by allocating the $67 million the state would be unlocking more than $576 million in private investment and more than 2,400 units of housing, including more than 1,300 affordable units, across the Mid-Hudson region.
“Communities all over the Mid-Hudson region are stepping up in extraordinary ways to address the housing crisis, and with these awards, New York is making good on our commitment to supporting them,” Hochul said. “I am ready to work with any community that wants to join us.”
Projects that will benefit from the funding are as follows:
- $10 million for essential infrastructure improvements required to accommodate up to 1,080 new homes in Peekskill;
- $10 million for the construction and operation of a new Indian Brook Water Treatment Plant to ensure high-quality drinking water for approximately 300 homes in the Village of Ossining;
- $8.7 million for the 115 South Macquesten transit-oriented development project to construct two residential towers on a shared mixed-use base with approximately 315 units of housing in Mount Vernon;
- $10 million for the Golden Hill project to transform the former Ulster County jail into a new mixed-income and mixed-use community with 164 units of affordable housing in Kingston;
- $5 million for the 316 Main Street project to construct a six-story, mixed-income building with 80 units of housing and more than 21,000 square-feet of commercial space in Poughkeepsie;
- $4.75 million for the Barrel Factory Apartments project to construct a 100-unit mixed-use, mixed-income development in Kingston;
- $3.465 million for the Red Hook Gateway project to extend water, roads, utilities and public infrastructure for up to 40 potential new units of housing in the Village of Red Hook;
- $3.05 million for the 104 Washington Street project to construct a 14-unit, mixed-use building with an ice cream manufacturing facility, street level suites for retail and food and beverage, and co-working office space in Newburgh;
- $2.6 million for the 191 Washington Street project to repurpose a vacant building into 70 units of housing, commercial, retail, office, and light manufacturing space in Newburgh;
- $2.5 million for the Two Cross Street project to construct a fully affordable, 18-unit mixed-use building in Beacon;
- $2.5 million for The Green transit-oriented development project to construct an innovative, mixed-use affordable housing development with 118 apartments in Newburgh;
- $2.5 million for the 63 Maple Avenue project to construct a five-story residential building with approximately 78 homes in the Village of Haverstraw;
- $2 million for the Newberry project to construct a 28-unit, mixed-use development on the site of a long-vacant, blighted building in Poughkeepsie.
Dutchess County Executive Sue Serino said, “Housing and infrastructure are essential components to retain and attract residents young and old and to support and grow our business community.”
Projects that would benefit from a second round of funding in the $150 million program are now being considered through Empire State Development’s internet portal. Funding will be broken up into mixed-use housing projects and essential infrastructure projects with awards ranging from $2 to $10 million.