ALBANY, N.Y. (WENY) – Governor Kathy Hochul announced that $104 million has been awarded to create or preserve 864 affordable homes in 16 separate developments across New York.
The governor’s office says the funding will further local economic development initiatives, expand the housing supply in every region, fight homelessness with supportive services for vulnerable populations, and help close the digital divide for lower-income households.
They also say the developments will also advance the state’s goal to achieve an 85 percent reduction of greenhouse gas emissions by 2050.
“The $104 million in awards announced today will expand access to affordable housing and opportunity for families, seniors, and vulnerable residents across New York,” Governor Hochul said. “Expanding the housing supply is the cornerstone of my $25 billion, five-year housing plan, and today’s awards will move us one step closer toward achieving our goal of making New York a more affordable place for all. With sustainable designs, on-site supportive services, and expanded access to free or low-cost broadband internet, we’re not just building homes with these awards; we’re creating vibrant, more enduring communities.”
The awards are part of Hochul’s $25 billion, five-year comprehensive statewide housing plan that the governor’s office says will make housing more affordable, equitable, and stable.
The Governor’s plan will increase housing supply by creating or preserving 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus electricity for 50,000 homes.