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Governor Kathy Hochul today announced completion of phase one on a $47.4 million renovation of a public housing development for seniors in the city of Amsterdam. Renovations are now complete at Stratton Apartments, featuring 75 safe, energy efficient and affordable homes for seniors. Construction is also underway on the project's second phase to upgrade the 116-unit New Amsterdam Apartments.
"Affordable housing is a key factor in growing and developing thriving communities," Governor Hochul said. "The rehabilitation of the Stratton Apartments is critical to ensuring that seniors throughout Amsterdam can not only live with dignity and security, but also be provided with the opportunity to play a role in the city's revitalization."
Stratton Apartments is part Governor Hochul's sweeping plans to make housing more affordable, equitable, and stable. This includes a new $25 billion, five-year housing plan that will create and preserve another 100,000 affordable homes in urban and rural areas across New York including 10,000 with support services, increase construction of new homes, and tackle inequities in the housing market.
Built in the 1970s, Stratton Apartments consists of a seven-story building with 75 apartments located at 95 Division Street. All apartments are affordable for households with incomes at or below 80 percent of the Area Median Income and with at least one household member aged 62 or older.
The scope of renovations included asbestos abatement, the encapsulation and installation of new windows, common doors, energy-efficient hot water boilers and LED light fixtures throughout. All apartment kitchens and bathrooms were upgraded with Energy Star rated appliances and fixtures.
Residential amenities at Stratton Apartments include outdoor parking, outdoor recreation space, a community room, computer lab and laundry rooms.
Stratton Apartments is located within one mile of all major services, including a hospital, grocery stores, parks, and commercial businesses. A regularly scheduled city bus makes several stops a day at the building.
The completion of Stratton Apartments also marks the start of renovations for the project's second phase. New Amsterdam Apartments is a 12-story building with 116 apartments for seniors located at 26 Wall Street. Renovations at this building will be completed in 2023.
The developers are the Amsterdam Housing Authority and 3D Development Group LLC. State financing for the two-phase development includes $9.3 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated $15.9 million in equity and $15.6 million in subsidy from New York State Homes and Community Renewal. The New York State Energy Research and Development Authority is providing $136,500 in support.
HCR Commissioner RuthAnne Visnauskas said, "The COVID pandemic has exacerbated the shortage of decent housing options for seniors living on fixed incomes. This $47 million investment will preserve affordability for 191 households, enhance quality of life with upgraded and energy efficient amenities, and protect the health of vulnerable New Yorkers. Thanks to our partnership with the Amsterdam Housing Authority and 3D Development, this critical housing resource will continue to serve Amsterdam's seniors and allow residents to live with dignity and security in homes they can afford."
Doreen M. Harris, President and CEO at NYSERDA, said, "We are pleased to see the progress of Amsterdam Housing Authority's rehabilitation project with it now starting its second phase of upgrades on affordable housing for low-income seniors that is energy efficient, healthy and comfortable. Residents will enjoy new windows and energy efficient fixtures and appliances throughout, which supports the State's efforts to reduce harmful emissions and fight climate change, while ensuring all New Yorkers receive the benefits of clean energy investments."
Senator Michelle Hinchey said, "This collaborative investment by our state and federal partners will allow for the revitalization of 191 senior households at the Stratton Apartment Complex in the City of Amsterdam — an effort that will greatly optimize residents' quality of life through a holistic approach to building modernization. From implementing climate-forward upgrades focused on energy efficiency to bolstering safety improvements to expanding residents' access to important on-site amenities, like computer lab services — this is the kind of project we need to see more of in our region and the renewed investment our Amsterdam community deserves. Now more than ever, quality, affordable senior housing is essential to help our neighbors safely age in place. I thank Governor Hochul and our state and federal partners for prioritizing our local housing needs, which we will continue to move the needle on this year across upstate New York."
Assemblymember Angelo Santabarbara said, "Expanding affordable housing in our community is an important goal and especially significant for our most vulnerable residents, that's why I supported the funding needed for this project. The newly renovated apartment complex will enable seniors to live in modern, safer housing and also stay connected to their families, friends and their community. I'm excited to see work continue on this project that strengthens the affordable housing options here in the City of Amsterdam."
Mayor of Amsterdam Michael Cinquanti said, "We had the pleasure of touring several of the renovated apartments and updated amenities at the Stratton Apartments just as the project was nearing completion. The integration of design features that will enhance the safety and comfort of the building's residents and the emphasis on energy efficiency and ease of future maintenance were very impressive. On behalf of our City I thank the AHA for this critical investment in quality housing for Amsterdam's seniors."
Bruce Levine, President of 3D Development, said, "The collaborative effort between HCR, the Amsterdam Housing Authority, City of Amsterdam and the development team is what took this project from a concept to where we are today, with the ribbon cutting of Stratton Apartments and start of construction for New Amsterdam Apartments."
Damaris Carbone, Executive Director of the Amsterdam Housing Authority, said, "We thank Governor Hochul and New York State Homes and Community Renewal for their support of this project. The priority for the Amsterdam Housing Authority is to provide safe, quality living environments for the tenants. Quality housing is the key to stabilizing neighborhoods and Amsterdam's continued revitalization."
Montgomery County Executive Matthew L. Ossenfort said, "Having affordable and safe housing for seniors is extremely important for our community, especially as our aging population continues to grow. I commend the work that has been done at the Stratton Apartments and look forward to the phase two completion, which will create further opportunities for our senior residents in the city of Amsterdam to have a safe, comfortable, setting to call home."