Woodrow Townhomes LLC awarded $3.5M HCR grant
AMSTERDAM- Gov. Andrew Cuomo announced on Friday, Dec. 20, that Woodrow Townhomes LLC of Amsterdam won one of 10 grants funded through the New York State Homes and Community Renewal awarded to help create or preserve high quality affordable housing and increase economic growth in regions around the state.
The awards, totaling up to $23.7 million, were the result of HCR’s Early Award competition, which is a single-source process for applying for different streams of funding for multi-family rental projects, a press release said.
Woodrow Townhomes LLC located at 141 Woodrow Rd., in the city Amsterdam, was awarded $3.5 million to preserve 100 units of Mitchell-Lama housing stock. According to the press release energy-efficient upgrades will yield a 20 percent reduction in energy use, and the project is expected to produce $19.1 million in economic activity.
“Expanding the availabilty of affordable housing is an essential part of our mission to make New York’s communities stronger and healthier,” Cuomo said in the press release.
Darryl C. Towns, commisioner and CEO of HCR said in the press release that the awards announced will advance some of Cuomo’s most important policy goals, which include supportive housing for veterans, preservation of Mitchell-Lama and rural housing and economic revitilization.
“Show us what you want to build,” Towns said. “Show us how it’s going to help New Yorkers in very specific ways. And show us that you can deliver projects on time and on-budget; that’s what these awards are about.”
The press release said that the projects will begin construction in April.