ALBANY — Clinton Avenue Historic Apartments underwent rehabilitation in a $56 million initiative spearheaded by the state. The project aims to provide affordable, accessible housing for families, while also designating 40 of the apartments to be used for formerly homeless residents and residents with mental illness who will be provided with support services.
This effort focused on 70 row houses lining Clinton Ave. and Ten Broeck St., totaling 210 newly renovated apartments. New York State Homes and Community Renewal Commissioner RuthAnne Visnaukas said the rehabilitation projects, including other new housing redevelopments in the area, are “breathing new life into the Arbor Hill area.”
The effort is a part of Andrew Cuomo’s $20 billion, 5-year Housing and Homlessness Plan, the goal of which is to create accessible housing opportunities and combat homelessness. More than 100,000 homes will be built or preserved, and 6,000 of those homes will offer supportive services.
Clinton Ave. Historic Apartments’ rehabilitation project was financed through $3.6 million in tax-exempt bonds, federal and state Low-Income Housing Tax Credits, and $19 million from NYS Homes and Community Renewal. The project goes hand-in-hand with Governor Cuomo’s Downtown Revitalization Initiative — a $10 million investment in the Clinton Square neighborhood.
“Projects like this work to address our community’s shortage of affordable housing while also delivering direct access to resources to help individuals facing the significant and lasting consequences of mental illness and homelessness,” said Assemblymember John T. McDonald III.
The homes, in addition to improvements to the structures, were fitted with new electrical and lighting systems designed to increase energy efficiency, like LED and energy Star lighting, Energy Star appliances, and low-flow plumbing fixtures.
“It is exciting to see this kind of equitable residential area come to fruition while maintaining the historic character of the buildings and neighborhood,” said Albany Mayor Kathy Sheehan. “Thanks to the rehabilitation of the Clinton Avenue Historic Apartments, families can enjoy affordable homes with improved quality of life that include new roofs, windows, utility lines, and upgraded kitchens and bathrooms.”
When it comes to affordability, the majority of the newly renovated homes are accessible for households making up to 60 percent of the Area Median Income. Approximately 20 percent of the homes will benefit from rental subsidies and supportive services from the Governors Empire State Supportive Housing Initiative.
“To ensure our communities maintain their affordability, affordable housing projects like this will continue to be a priority for the City of Albany IDA,” said Capitalize Albany Corporation President and City of Albany Industrial development Agency CEO Sarah Reginelli. “This rehabilitation adds to the more than 1,600 affordable housing units already assisted in the past five years alone.”