Two major affordable housing developments in western New York are receiving nearly $191 million in state financing as part of a nearly $1 billion housing investment announced by Governor Kathy Hochul.
The funding, awarded through New York State Homes and Community Renewal, will help create and preserve affordable, supportive and energy-efficient housing across the state as part of the governor’s five-year, $25 billion Housing Plan.
In Rochester, the state is providing $38 million for First Genesis Senior Living, a new three-building development that will create 105 affordable apartments for older adults in Monroe County. The project will serve households earning up to 60 percent of the area median income and will include 37 supportive housing units for disabled veterans and other vulnerable residents. The development is a partnership between Rochester Management, Inc. and First Genesis Baptist Church.
In Buffalo, the state awarded $152.9 million for the North Aud Block development. The three-building project will include 251 apartments, with 187 affordable units for households earning up to 80 percent of the area median income and 64 market-rate apartments. The project is being developed by Pennrose NY LLC.
State officials say the latest funding awards will create or preserve 2,754 affordable apartments through 12 developments across New York. Combined with private financing and other resources, the projects are expected to generate nearly $1.6 billion in total investment.
Governor Hochul said the investment moves the state closer to its goal of creating or preserving 100,000 affordable homes while expanding access to safe, stable and sustainable housing across New York.
