A rendering of the Golden Hill project.

New York announces grants for housing projects, transit-oriented developments

June 3, 2024

New York has introduced the first round of grants under the Mid-Hudson Momentum Fund, a $150 million initiative announced last year to boost housing availability in New York’s Mid-Hudson area. The funds will support mixed-use developments, transit-oriented projects near key commuting centers and essential infrastructure improvements to prepare for future housing expansion.

The Mid-Hudson Region has become a popular destination location for tourists and residents, with an influx of over 33,000 new residents in just the past two years. Regional housing availability stood at less than 1% last year, creating urgent demand for new development.

“Communities all over the Mid-Hudson region are stepping up in extraordinary ways to address the housing crisis,” Gov. Kathy Hochul said in a press release. “The Mid-Hudson Momentum Fund is not just helping them build more housing, it’s helping them chart a path toward a more affordable New York.”

The s to create more than 2,400 housing units, including 1,300 affordable units, across the Mid-Hudson region. The selection of projects was determined by their adherence to the goals of the Mid-Hudson Regional Economic Development Council: community backing, the quantity of affordable housing units to be established, and, for infrastructure initiatives, their ability to either create or improve systems linked to boosting housing density.

The projects are:

  • $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.
  • $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 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.
  • $5 million for the 316 Main St. 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 Red Hook.
  • $3.05 million for the 104 Washington St. 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 coworking office space in Newburgh.
  • $2.6 million for the 191 Washington St. 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 a mixed-use affordable housing development with 118 apartments in Newburgh.
  • $2.5 million for the 63 Maple Ave. project to construct a five-story residential building with approximately 78 homes in 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.

The next round of funding is available until June 28, with applications welcome from private companies, nonprofits, municipalities and public benefit corporations through the Consolidated Funding Application portal. Funds will go toward mixed-use housing projects and critical infrastructure initiatives, with awards ranging from $2 million to $10 million. Eligibility criteria and more information are available on the Empire State Development website.

Photo courtesy of Ulster County

Don't Miss

Massive support, funding now available to improve supply-chain networks

New opportunities for multimodal freight, rail, and port projects are
A hospital hallway.

New hospitals greenlit for Amarillo, Wichita Falls

The Texas Health and Human Services Commission (HHSC) is searching