Governor Hochul Allocates Millions for Affordable Housing Projects in Broome County

Governor Kathy Hochul's recent announcement of a $260 million funding initiative to build and preserve affordable homes across New York State has brought hope to Southern Tier residents.

Hochul’s initiative aims to address the housing crisis by creating and preserving 1,852 affordable, supportive, and sustainable homes in 29 developments in New York including in Broome County.

Projects in the Southern Tier will receive funding to upgrade public housing, promote local economic development, and incorporate sustainable features that align with the state's climate goals.

The funding, allocated by New York State Homes and Community Renewal (HCR), includes $56 million in Federal and State Low Income Housing Tax Credits and $204 million in subsidy, with a total investment exceeding $840 million when combined with private funding. This financial support will boost New York's housing supply and lower housing costs, making it more accessible for individuals and families.

In addition to affordable housing, these developments will also provide free broadband services to residents. This aligns with Governor Hochul's ConnectALL initiative, aimed at bridging the digital divide by expanding high-speed internet access in underserved communities.

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Among the projects receiving funding in the Southern Tier region are the Hooper Road Apartments in Union and the Homesteads on Grand project in Johnson City.

The Hooper Road Apartments in Union will receive $14.9 million for the development. This project will consist of a four-story building with 80 apartments, including 40 units equipped with supportive services tailored for older New Yorkers. Additionally, eight apartments will have a lease preference for LGBTQ+ households. The Hooper Road Apartments will also receive $440,000 in funds from the Clean Energy Initiative (CEI) to pursue stretch certification goals, ensuring the implementation of sustainable practices.

In Johnson City, the Homesteads on Grand development has been awarded $9.7 million. This mixed-use project will feature 72 new apartments and commercial space. Among the 72 apartments, 12 units will provide supportive services for homeless individuals and families. In addition, this project will receive $396,000 in CEI funds to pursue stretch certification goals, furthering the commitment to sustainable building practices.