Governor Hochul announces $682 million in financing for affordable housing

ALBANY, N.Y. (WHEC) – On Monday Governor Kathy Hochul announced that $682 million in bonds and subsidies were awarded to create or preserve more than 1,600 affordable, sustainable, and supportive homes across the state.

"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."

Awards include:

$70 million for Tailor Square in the city of Rochester. The project will convert the historic four-story manufacturing building home to Hickey Freeman into 134 affordable apartments, including 45 homes for seniors in need of support services.

$46 million for Canal Street Apartments in the city of Rochester. The project will convert a vacant factory and warehouse known as the Utz and Dunn Shoe Company Building into 123 affordable apartments. Seventy apartments will be reserved for adults experiencing homelessness who will have access to on-site support services.