Croton Affordable Housing Project Receives $3M in Funding From State
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Gov. Kathy Hochul announced last week that more than $100 million has been awarded to create or preserve 864 affordable housing units across the state, including $3 million toward a project in Croton-on-Hudson.
The funding that was unveiled July 6 for 16 different developments is expected to further local economic development initiatives, expand the housing supply, fight homelessness with supportive services for vulnerable populations and help close the digital divide for lower-income households by having free or low-cost broadband service to its residents, Hochul mentioned.
It will also advance the state’s goal of reaching an 85 percent reduction of greenhouse gas emissions by 2050. The reduction in emissions is compared to 1990 levels.
The project in Croton, at an unused municipal-owned lot at 41-51 Maple St., will feature 33 apartments across two buildings targeting a wide range of incomes. Regan Development Corp. is the designated developer. The development consists primarily of two- and three-bedroom units with some one-bedroom apartments mixed in and is in a community with a high-performing school district, officials noted.
Assemblywoman Sandy Galef (D-Ossining) and state Sen. Peter Harckham (D-Lewisboro), who represent the village, applauded allocation of the funding.
“This Croton project is very special in creating more housing, which includes affordable housing that is so needed by our residents,” Galef said. “I compliment Croton for advocating for this project and making it happen.”
Mayor Brian Pugh said being able to build 33 affordable units in the community will relieve that number of households who are stressed from high rents and at least partially address the lack of housing affordability. He also thanked Galef and Harckham for supporting the funding request.
“The current pandemic has only aggravated the chronic housing shortage in our region,” Pugh said. “The sale and redevelopment of the unused village-owned parcel where the new homes are to be built is a boon to our municipal balance sheet and a benefit for our local economy.”
It is part of Hochul’s goal to increase housing supply by creating or preserving 100,000 affordable residences across New York, including 10,000 with support services for vulnerable populations. The plans also include electrification of an additional 50,000 homes.
Harckham said he remains focused on helping to solve the pressing housing need that is within financial grasp of populations that are getting priced out of the area, including seniors on fixed incomes,
“This new development in Croton-on-Hudson is a great example of the kind of public-private partnerships that will help alleviate the affordable housing shortage statewide, and I am pleased Gov. Hochul, local officials like Mayor Pugh and community-minded developers are making strong commitments to support projects like this,” Harckham said.
Each of the state’s 10 regions were represented in the 16 projects, with the Maple Street development being the only one receiving funding in the seven-county Mid-Hudson region.
It is also part of Hochul’s $25 billion, five-year comprehensive statewide housing plan to make housing more affordable, equitable and stable for millions of families.
The New York State Homes and Community Renewal’s Multifamily Finance RFP, a competitive process used to award federal low-income housing tax credits and subsidize financing for affordable multifamily housing developments, provided the funding.
Martin has more than 30 years experience covering local news in Westchester and Putnam counties, including a frequent focus on zoning and planning issues. He has been editor-in-chief of The Examiner since its inception in 2007. Read more from Martin’s editor-author bio here. Read Martin’s archived work here: https://www.theexaminernews.com/author/martin-wilbur2007/
