Home Dutchess County Mid-Hudson region gets millions for new housing projects

Mid-Hudson region gets millions for new housing projects

Mid-Hudson region gets millions for new housing projects

HYDE PARK At the Wallace Center on the grounds of the FDR Presidential Library, dozens of Hudson Valley public officials and project developers gathered to hear Empire State Development CEO and Commissioner Hope Knight announce $67 million in funding for projects in the Mid-Hudson Region. The Mid-Hudson Momentum Fund has awarded financing for a number of initiatives in the following communities: Red Hook, Newburgh, Poughkeepsie, Kingston, Peekskill, and others.

The site of the future Newberry Project in Poughkeepsie

A $150 million program called the Mid-Hudson Momentum Fund was unveiled last year with the goal of increasing the region’s housing supply in the Mid-Hudson.

The projects that have won include mixed-use complexes, transit-oriented developments near busy commuter hubs, and vital infrastructure upgrades that will eventually make room for more housing. In order to attract over $576 million in private investment and over 2,400 housing units—including more than 1,300 affordable units—across the Mid-Hudson area, these projects collectively will receive about $67 million in state assistance.

Governor Hochul stated in a prepared statement, “Communities throughout 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 support them.” An employee of the Executive Office stated that Hochul was supposed to make the announcement in Hyde Park but was delayed in Albany.The Mid-Hudson Momentum Fund, the first state initiative to support our pro-housing communities, is assisting them in laying the groundwork for a more reasonably priced New York, in addition to assisting them in creating additional homes. My administration is still completely committed to constructing the homes required to lower housing costs, and I am prepared to collaborate with any community that wishes to become a part of it.

Red Hook Village Karen Smythe, the mayor, described the money as essential to her town. The infrastructure that allows for more dwellings in a smaller area is what this money is being used on. A portion of the funds being sent to Red Hook will be used for road construction, water line extensions, and other infrastructure improvements.

Two prizes are going to Poughkeepsie for planning-stage Main Street renovations. For 316 Main Street, a five-million-dollar project is planned to build a six-story mixed-use building with 80 affordable housing units. $2 million will be given to the Newberry project to build 28 residential apartments and commercial space at 278–282 Main Street. According to Mayor Yvonne Flowers, the money will significantly accelerate the growth of the city’s housing market. The City of Poughkeepsie will have more options for affordable housing as well as more job possibilities thanks to these projects.

Receiving $10 million for the Golden Hill project and $4,75 million for the Barrel Factory project, Kingston was also among the recipients. The ability to construct a few hundred housing units in Kingston is much needed, and the Mid-Hudson Momentum Fund is the ideal partner for our developers to help get the projects over the finish line and get built, said Mayor Steve Noble, who expressed excitement about the funding to Mid Hudson News. The city has given both projects preliminary approval.

Below is a list of projects:

  • $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 the City of Kingston
  • $10 million for essential infrastructure improvements required to accommodate up to 1,080 new homes in the City of 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 the City of Mount Vernon
  • $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 the City of Poughkeepsie
  • $4.75 million for the Barrel Factory Apartments project to construct a 100-unit mixed-use, mixed-income development in the City of 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 the City of 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 the City of Newburgh
  • $2.5 million for the Two Cross Street project to construct a fully affordable, 18-unit mixed-use building in the City of Beacon
  • $2.5 million for The Green transit-oriented development project to construct an innovative, mixed-use affordable housing development with 118 apartments in the City of 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 the City of Poughkeepsie

These grants also represent the first time that communities dedicated to housing growth have been given priority under Governor Hochul’s Pro-Housing Communities initiative, which was started last year to boost the number of available homes in New York. Under the program, communities will receive a certification from New York State Homes and Community Renewal that will give them first dibs on applications for up to $650 million in state discretionary funding, including the Mid-Hudson Momentum Fund, if they have successfully unlocked housing growth or committed to taking significant steps to support housing, like simplifying permitting and adopting pro-housing policies, and if they have applied and submitted critical housing and zoning data to the state.

Leave a Reply

Your email address will not be published.