ROCHESTER, N.Y. — More than $2 billion in housing bonds and subsidies have been awarded to 24 housing developments across New York state, with Rochester also getting part of the funding.
In Rochester, $58 million will transform a vacant office building in downtown into the Gateway Apartments. This project will include 129 units. Additionally, $40 million will fund a 153-unit development in the city’s Upper Falls neighborhood, specifically for the Los Flamboyanes apartment building.
“By coupling State financing tools with private resources, we are generating more than $3 billion in overall investment that will improve neighborhoods, reduce energy costs and provide thousands of affordable housing options across every region of the State,” Governor Kathy Hochul said.
It all comes after Governor Hochul’s $25 billion five-year housing plan, attempting to increase affordability. Aiming to create or preserve more than 100,000 affordable and modern homes throughout the state.
There are income requirements for renters with the new financing.
Governor announces billions of dollars in state financing for homes, Rochester included WHEC.com.
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