St. Anselm Apartments in the Bronx. Photo courtesy of Catholic Homes New York.

New York to put $406 million toward construction of 800 housing units

September 21, 2023

New York –Gov. Kathy Hochul has announced she will redirect $406 million of discretionary spending built into the state budget to subsidize construction of 800 affordable housing units in the New York City area.

The funding consists of $286 million in tax-exempt housing bonds and $120 million in tax subsidy programs from the state’s Homes and Community Renewal (HCR) agency.

The units will adhere to the New York State Climate Leadership and Community Protection Act and support green-energy goals. For example, they will be all electric and provide no-cost broadband internet service for residents.

Details of the five projects are:

  • Westchester County – The St. Clair in Yonkers, $41.3 million. A mixed-use property with 76 affordable housing units and 2,000 square feet of commercial space. Construction is on the site of a remediated space less than half a mile from a metro train station.
  • Suffolk County – Wyandanch Building L in Babylon, $102.5 million. This adds 218 units to the Wyandanch Rising complex. The 40-acre site is adjacent to the Wyandanch Long Island Railroad station.
  • Suffolk County – Matinecock Court in Huntington Township, $78.6 million. This project is for 145 limited-equity co-ops and eight rental units for people with developmental or intellectual disabilities. The 14.8-pacre parcel will hold 17 two-story townhome buildings.
  • The Bronx – St. Anselm Apartments in Mott Haven, $70.2 million. A 12-story building housing 126 apartments. Of those, 63 will support the homeless in the community. The structure will be less than one block from several bus stops and a subway station.
  • Brooklyn – 2435 Pacific St. in East New York, $113.3 million. A mixed-use property, this building will be 10 stories high and offer 236 units; 142 will offer support services. It will also feature 7,000 square feet of commercial space. This is a remediated site less than two blocks from the L train and East New York Long Island Railroad.

Sharon Fell

Sharon Fell joins the SPI team as a reporter for Government Market News. She has spent the last five years as a content manager for several political and governmental websites. Her responsibilities also included managing a team of international writers and editors.  

Sharon holds a bachelor's degree in engineering from the Indiana Institute of Technology. She brings that technical background to her work researching and writing articles for the SPI Team. She contributes to the firm’s weekly newsletters, Government Contracting Pipeline and Texas Government Insider.

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