ALBANY, N.Y. (WENY) – Governor Kathy Hochul announced that $682 million dollars have been awarded to create or preserve more than 1,600 affordable homes across the state.
The governor’s office says the money will further local economic development efforts and reduce homelessness.
“We are working tirelessly to expand much-needed affordable housing across New York State, and these new developments will help us build toward a more stable and equitable future for the next generation,” Governor Hochul said. “When we invest in modern and healthy housing, we strengthen our communities and provide new opportunities for New Yorkers to thrive and succeed, and today is a significant step in helping secure and preserve safe, livable, and quality affordable housing for all New Yorkers.”
The awards are part of Governor Kathy Hochul’s plans to make housing more affordable and stable.
The Governor has introduced and successfully secured, in the 2022-23 State Budget, a new $25 billion, five-year, comprehensive housing plan that 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 the electrification of an additional 50,000 homes.