Governor Hochul Announces More Than $240 Million Investment to Create and Preserve 1,800 Affordable Homes in Every Region of New York

Governor Kathy Hochul today announced more than $240 million in tax credits and subsidies was awarded to create and preserve 1,800 affordable, modern homes in 27 housing developments across New York. The awarded projects include housing with supportive services, accessibility features, and incorporate sustainability measures to keep costs down for residents and help address climate change. Developments provide homes for people of all ages and phases of life, strengthen communities, and further local economic development efforts. The funding is part of Governor Hochul’s $25 billion five-year Housing Plan, which is on track to create or preserve 100,000 affordable homes statewide.

“The housing crisis won’t solve itself. If we want New York to remain a place people can afford to call home, we have to act with urgency,” Governor Hochul said. “That means building more housing in every region and making targeted investments to expand affordable homes for people of all ages and phases of life including working families, seniors, and people living with disabilities.”

The awards are provided through New York State Homes and Community Renewal’s annual Low-Income Housing Tax Credit competitive funding round. Financing includes $66 million from its Federal and State Low-Income Housing Tax Credit programs and $176 million in subsidy loans. Tax credit and subsidy information for each project is available here. When combined with private funding, the projects are expected to generate $1 billion in overall investment.

More than half of the awarded projects will also receive support from agencies including the New York State Energy Research and Development Authority (NYSERDA), Empire State Development, Office of Temporary and Disability Assistance, Office for People With Developmental Disabilities, and Office of Mental Health — demonstrating that housing affordability is a priority across all sectors.

New This Year

New York State Homes and Community Renewal (HCR) updated its Design Guidelines and scoring incentives in 2025 to increase accessibility. The updated guidelines prioritized projects that included a larger proportion of accessible units, resulting in a 33 percent increase in fully-accessible units for those with mobility or hearing or visual impairments.

The projects will all achieve high levels of carbon reduction, with some projects receiving funding through HCR’s Multifamily Solar Program, which funds the installation of on-site solar arrays, as well as some projects receiving funding for electrification upgrades through HCR’s Clean Energy Initiative. Both programs are funded in partnership with NYSERDA. These investments complement New York’s mission to address climate change by decreasing emissions 85 percent by 2050.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “New York is committed to building more affordable housing and this $240 million investment will provide 1,800 individuals and families the opportunity to find modern and sustainable homes they can afford in every region of the state. These projects show that our commitment to housing goes hand-in-glove with our commitment to the environment and to improving accessibility. We applaud Governor Hochul for being laser-focused on making our communities more affordable and livable for all New Yorkers.”

Senator Charles Schumer said, “Every family in New York deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help preserve or build 1,800 homes in every corner of the Empire State. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul’s work increasing access to housing for working families in New York, and I will continue working to deliver federal resources to develop more affordable housing.”

Senator Kirsten Gillibrand said, “Too many New Yorkers are being forced out of their communities because of the affordable housing crisis. We must move faster to build the housing people can actually afford. I’m grateful this investment will help create and preserve 1,800 affordable homes across New York, and I’ll keep fighting to expand the housing supply so every New Yorker can find a safe and affordable place to call home.”

Representative Nydia M. Velázquez said, "Affordable housing is the foundation of strong, thriving communities, and this nearly $240 million investment is a meaningful step toward ensuring New Yorkers across the state have access to safe and affordable housing. In neighborhoods like East New York, where young people face enormous barriers to finding stable, affordable housing, projects like 2863 Atlantic will make a real difference. I applaud Governor Hochul and HCR for prioritizing accessibility, sustainability, and supportive services in these awards."

Representative Ritchie Torres said, “The housing crisis is one of the defining challenges facing the Bronx today, and investments like the 1848 Vyse development are exactly the kind of bold action we need. This project will deliver more than a hundred affordable homes with supportive services, modern accessibility features, and sustainable design that lowers costs for residents over time. At a moment when too many families are being priced out, expanding the supply of quality, affordable housing is essential to keeping the Bronx a place where working people, seniors, and vulnerable New Yorkers can continue to live and thrive. I appreciate the state’s continued commitment to building housing at the scale this crisis demands.”

Representative Paul Tonko said, “This major announcement represents a critical step forward in our efforts to ensure that every New Yorker has a safe, affordable place to call home. By investing nearly $240 million in affordable housing construction, including more than $66 million from the Federal and State Low-Income Housing Tax Credit program, New York State and its partners will be able to create and preserve 1,800 more affordable homes in 27 housing developments across our state. Importantly, each of these projects will include accessibility and sustainability features that will allow them to house New Yorkers of all ages while also helping to address the climate crisis. I’m thrilled to celebrate this significant infusion of funding for affordable housing in our state, and I’m eager to see how these investments will spur growth in our communities and bring security for our families.”

Representative John W. Mannion said, “Policies and investments that expand housing supply strengthen neighborhoods, promote workforce stability and public health, and drive long-term regional growth. Today’s awards deliver more than $36 million in direct investment to Onondaga County, Cortland County, and Utica — supporting 271 new affordable homes for working families, seniors, and individuals who need supportive services. I commend Governor Hochul for helping to build stronger communities across Central New York and the Mohawk Valley.”

Representative Pat Ryan said, “I hear it from people everyday: costs, especially housing costs, are still way too high. Building 161 new units across Dutchess, Orange, and Ulster Counties is a huge step forward that will make a concrete impact, and I’m grateful to Governor Hochul for helping get it over the finish line. But we have to stay laser focused. With the housing affordability crisis in the Hudson Valley, we need all-hands-on-deck to bring housing costs down. That’s why I’m fighting to pass my Bold Housing Agenda, a package of bills to bring down housing costs by lowering mortgage rates, cracking down on the Wall Street firms jacking up housing costs, and cutting through red tape to let our towns and cities build in a way that makes sense for them. Because no family should have to pick between putting food on the table and having a roof over their heads.”

Representative Joe Morelle said, “Having a place to call home is not a luxury, it’s a necessity for families to thrive. I’m grateful to Governor Hochul for her continued partnership as we work to ensure every New Yorker can have a safe, stable home for generations to come.”

Representative Tim Kennedy said, “I applaud this bold investment in New York’s housing stock, which will help deliver over 100 new affordable homes across Western New York. These developments will provide families, seniors, and residents with safe, modern, and energy-efficient housing in every region of our state. This historic investment builds a stronger, more sustainable future for Western New York and cements our state as a leader in the fight to end the housing crisis.”

Assemblymember Linda B. Rosenthal said, "The creation and preservation of affordable housing is key to keeping people in their neighborhoods and building stronger communities. The Governor's announcement of nearly $240 million that is being invested in affordable housing projects throughout the state is critical as the Trump administration decimates many essential housing and social safety net programs. These projects, made possible through investments in last year's state budget, will help to provide supportive housing to vulnerable community members, assist aging New Yorkers, ensure climate resiliency and so much more. This infusion of funding marks another step forward in addressing our housing crisis, and I look forward to continuing this work with the Governor and our partners in state government."

The awarded projects are:

Capital Region

$6.8 million for SCAP Campus Apartments in Schenectady – Construction of a 60-unit affordable and supportive housing development. The project is planned to be co-located with a separate childcare and family resource center. Developed by DePaul.

$7.5 million for Excelsior Apartments in Saratoga Springs – Construction of a 50-unit affordable and supportive housing project. The project will include on-site solar funded through the Multifamily Solar Program. Developed by Beacon Communities.

$9.6 million for The Finley in Saratoga Springs – Construction of a 71-unit affordable and supportive housing development. The project includes a community building with amenities and offices for on-site services. Developed by Rise Housing and Support Services.

Central New York

$9.3 million for Cortlandville Commons in the Town of Cortlandville, Cortland County – Construction of a 68-unit affordable and supportive housing project that also includes commercial space intended for a childcare provider. Developed by Regan Development Corporation.

$9.6 million for Jordan Landing in the Village of Jordan, Onondaga County – Construction of a 65-unit affordable and supportive housing project spread across nine buildings. Developed by Eagle Star Housing.

$8.6 million for Marcellus Manor in the Town of Marcellus, Onondaga County – A 72-unit affordable senior housing project that includes preservation of the Nine Mile Landing and Upper Crown developments, as well as new construction of a third site. This project includes funding from the Clean Energy Initiative. Developed by Lakewood Development / Southern Hills Preservation Corp.

Finger Lakes

$4.5 million for Midvale Commons Phase 2 in the Town of Perinton, Monroe County – The second phase of a multi-phase Midvale Commons development. This phase includes the new construction of 28 bungalow-style affordable housing units for seniors. The project is spread across eight buildings. Developed by Pathstone Development Corp.

Long Island

$19.2 million for Dogwood Terrace in the Town of Hempstead, Nassau County – Redevelopment of a 104-unit public housing development which will include a new 3,700 square foot community facility. Developed by Georgica Green Ventures and the Town of Hempstead Housing Authority.

$12.2 million for Northville Commons in Town of Riverhead, Suffolk County – The first phase of a larger plan to redevelop vacant land owned by the First Baptist Church of Riverhead. This phase includes construction of an 80-unit affordable and supportive housing project. Developed by Georgica Green Ventures.

$13.2 million for Alegria South in the Town of Brookhaven, Suffolk County – Construction of a 96-unit affordable and supportive housing project. The development will include townhomes as well as a community facility. Developed by D&F Development Group.

$12.3 million for Bishop Ronald H. Carter Manor in the Village Freeport, Nassau County – Construction of an 80-unit senior and supportive affordable housing project. The project includes a parking facility to be shared by the adjacent Refuge Church of Christ of Roosevelt. Developed by D&F Development Group.

Mid-Hudson

$5.8 million for Ridgeview Apartments in the Town of Crawford, Orange County – Construction of 42-unit affordable and supportive housing project. Developed by Access: Supports for Living.

$6.3 million for Stone Creek Commons in Town of Saugerties, Ulster County – Construction of 47-unit affordable and supportive housing project. The development will also include a community facility for support services. Developed by Rehabilitation Support Services.

$7.2 million for Hallstead Farms in the Town of LaGrange, Dutchess County – Construction of a 72-unit affordable housing project. Developed by Parkview Development.

Mohawk Valley

$7.8 million for Solstice Commons in the City of Oneonta, Otsego County – Construction of 61-unit affordable and supportive housing project. The project will include onsite solar funded through the Multifamily Solar Program. Developed by Rehabilitation Support Services.

$9 million for Columbia Square Apartments in the City of Utica, Oneida County – Construction of a 66-unit affordable and supportive housing project. The development will include a mix of apartments and single‐family residences. Developed by DePaul.

$5.9 million for Rockton Plaza in City of Little Falls, Herkimer County – The first phase of a two-phase redevelopment of the Little Falls Housing Authority’s public housing portfolio. This phase includes the new construction of a 44-unit affordable housing development for seniors. The project will include onsite solar funded through the Multifamily Solar Program. Developed by Little Falls Housing Authority.

New York City

$11.1 million for 2863 Atlantic in Brooklyn – Construction of a 70-unit affordable and supportive housing project in Brooklyn’s East New York neighborhood. The development will include units reserved for young adults aged 18-25 who are aging out of foster care. Developed by United Cerebral Palsy Associations of NYS (Constructive Partnerships Unlimited).

$9.3 million for 1848 Vyse in the Bronx – Construction of 119-unit affordable and supportive housing development in the Bronx’s East Crotona Park neighborhood. Co-developed by Goddard Riverside Community Center and Fish Plate Development.

$15.3 million for Archer Avenue Apartments in Queens – Construction of a 127-unit affordable and supportive housing development in Queens’ Jamaica neighborhood. Developed by Transitional Services for New York.

North Country

$9.7 million for Fireman’s Field Apartments in Town of Ticonderoga, Essex County – Construction of a 60-unit affordable and supportive mixed-use project. The development will include space for a childcare facility. Developed by Regan Development Corporation.

Southern Tier

$11.8 million for YWCA Intergenerational Campus in the City of Binghamton, Broome County – A 68-unit affordable and supportive mixed-use project that includes both new construction and preservation of a building that will be transformed into a childcare facility. The project will include onsite solar funded through the Multifamily SolarProgram. Developed by YWCA of Binghamton and Broome County.

$8.4 million for Southport Corners in the Town of Southport, Chemung County – Construction of a 60-unit affordable senior housing project. The development will be located on the site of a vacant mobile home park. Developed by SCAP.

$5.8 million for Parish Heights in City of Corning, Steuben County – An adaptive reuse project that will transform the vacant historic St. Vincent de Paul Church and school complex into 45 affordable units for seniors and families. This project includes funding from the Clean Energy Initiative. Developed by Housing Visions.

Western New York

$5.5 million for McCoy-Young Commons in Buffalo – Construction of a 49-unit affordable housing project built on the site of the McCoy Convention Center building. The development will include both apartments and townhomes located on two sites across the street from one another. Developed by Belmont Housing Resources for WNY.

$4.2 million for Blooming Gardens in the City of Jamestown, Chautauqua County – A 34-unit affordable and supportive housing project that includes both preservation and new construction. The units will be located across several sites. This project includes funding from the Clean Energy Initiative. Developed by Citizens Opportunity for Development & Equality Inc. And Southern Tier Environments for Living.

$6.2 million for Sanborn Square in the Town of Lewiston, Niagara County – Construction of a 50-unit garden-style affordable housing project. Developed by Park Grove Development, LLC.

Governor Hochul’s Housing Agenda

Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. Since FY23, the Governor has worked to increase housing supply through nearly $25 billion in targeted investments, launched a $25 billion comprehensive Housing Plan, and implemented new protections for renters and homeowners. Under Governor Hochul’s leadership, HCR has created new programs that jumpstart development of affordable and mixed-income homes — for both renters and homebuyers. These include the Pro-Housing Community Program, which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 400 communities have received Pro-Housing certification.

The FY27 Executive Budget completes the Governor’s current five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations plus the electrification of an additional 50,000 homes. More than 77,000 affordable homes have been created or preserved to date. The Executive Budget also invests $250 million to accelerate affordable housing construction to speed up the building of thousands more affordable homes.