Governor Cuomo Announces $141.3 Million to Build and Preserve Affordable Housing Across the State

Press Release

Governor Andrew M. Cuomo today announced more than $141 million in awards for affordable housing developments across the state. The low-interest loans, grants and tax credits will build or preserve 2,160 affordable apartments and are expected to leverage more than $469 million in grants, loans, and private resources.

"Providing greater access to safe and affordable housing is a top priority of our administration and with this investment, we are helping more New Yorkers find a place to call home," Governor Cuomo said. "This is not only an investment in affordable housing projects, but a critical step towards developing safer communities, stronger local economies and brighter futures for all New Yorkers."

Funds announced today were available through New York State Homes & Community Renewal (HCR)'s Unified Funding Application, a single-source process to access a variety of resources for affordable, multifamily development. The funds are part of the Governor's unprecedented commitment to affordable housing and community revitalization, which includes the $1 billion House NY program, the state's largest affordable housing investment in nearly two decades. House NY is making progress creating and preserving more than 14,300 affordable homes over five years. In total, HCR is making awards to 38 projects. There are projects in each of the state's ten economic development regions.

Commissioner/CEO of New York State Homes & Community Renewal Darryl C. Towns said, "Under Governor Cuomo's leadership, every region in New York State is seeing the positive impact of creating and preserving affordable housing. By removing blight, preserving history, breathing new life into communities, and providing quality affordable homes--our investments will improve the lives of people across New York."

Congressman Charles B. Rangel said, "I applaud Governor Cuomo for providing vital funds to restore Harlem's iconic Loews Victoria Theater which first opened in 1917. This revitalization project will provide much needed housing and new opportunities in our district. Investments like these will continue to help strengthen our communities throughout New York State. Affordable housing has always been my priority, and I am very pleased to see significant progress being made for our constituents."

Congressman José E. Serrano said, "Access to affordable housing remains a problem for far too many people in New York and the rest of the country. Thanks to Governor Cuomo's efforts, more New York City and Bronx families will have access to reasonably priced housing options and feel the security of having a roof over their heads and a stable place to live. This funding is an important investment in our families' well-being and in our communities' economic stability," said Congressman José E. Serrano.

Congresswoman Carolyn B. Maloney said, "Governor Cuomo has made an unprecedented effort to improve the availability of affordable housing throughout New York," said Congresswoman Carolyn B. Maloney (D-NY). "Today's announcement of funding to build or preserve more than 2,000 additional units builds on that record. I am continuing to fight for more federal resources so that more awards like this can be made".

Congresswoman Nydia M. Velázquez said, "A tight housing market remains an ongoing challenge for New York's working families. Investing these resources will preserve and expand the availability of affordable housing and I'm happy to see this funding brought to bear to help address this problem.

Congressman Brian Higgins said, "Providing affordable housing opportunities is critical for rebuilding and strengthening neighborhoods and communities," said Congressman Brian Higgins. "The over $16 million in funds for Western New York will leverage additional public and private resources for projects such as the Parkview Apartments on Buffalo's East Side and go a long way towards ensuring Western New Yorkers will have the fair, affordable housing they deserve."

Congressman Paul Tonko said, "This additional support will help to energize communities throughout the Capital Region. Reinvesting and revitalizing these areas will make housing more affordable to those most in need, while creating a vibrancy that will strengthen local economies. I commend Governor Cuomo's commitment to bringing more affordable housing to every region of New York."

Congressman Richard Hanna said, "I am pleased to see the federal and state governments working together to ensure our residents in the Mohawk Valley and Southern Tier have access to safe, reliable housing options and that our seniors are able to retire with dignity with affordable housing possibilities," U.S. Rep. Richard Hanna said.

Congressman Hakeem Jeffries said, "Affordable housing is one of the eminent civil rights issues of our time. This package of $141 million in awards for affordable housing developments, including a $1.5 million grant for Housing Works in the Eighth Congressional District, is a strong first step in the right direction toward protecting affordable housing options for all New Yorkers. Governor Cuomo and my colleagues in the New York Congressional delegation should all be commended for their steadfast commitment to protecting affordable housing opportunities for all."

Congressman Sean Patrick Maloney said, "By working together at the federal, state, and local level and teaming up with hometown businesses, we can make our communities stronger by investing in our friends and neighbors here in the Hudson Valley.

Congressman John Katko said, "This funding will provide affordable housing for individuals and families in our community while preserving a historic Central New York building. I commend Governor Cuomo for his efforts in fostering public-private partnerships to provide more accessible housing opportunities across New York State."

Congresswoman Elise Stefanik, said "Access to affordable housing is critical to helping hard working North Country families achieve a decent standard of living and helps strengthen our local economies as well," said Congresswoman Stefanik. "These grants will go a long way to help St. Lawrence and Franklin County families and I commend Governor Cuomo for making this a priority."

In this funding round, applicants competed for low-interest loans through the Low-Income Housing Trust Fund Program, Federal and State Low-Income Housing Tax Credits, the HOME Capital Program, the Urban and Rural Community Investment Fund, Community Development Block Grant Program Disaster Relief Program, Mitchell Lama Affordable Housing Program, and the Medicaid Redesign Team Program.