New York State to Finance 1,000 Affordable Homes for Seniors

851
SHARE
New York State to Finance 1,000 Affordable Homes for Seniors

New York State Homes and Community Renewal will finance the construction of 1,000 affordable homes for seniors in central Brooklyn.

On Sunday, Gov. Andrew Cuomo announced that $15 million in federal 9 percent low-income housing tax credits will be set aside for the project.

The state will build the affordable homes on underutilized land owned by the New York City Housing Authority. Cuomo says he is committed to developing 3,000 affordable housing units in central Brooklyn. The housing developments cost $563 million and are part of the governor’s $1.4 billion Vital Brooklyn Initiative.

“Every New Yorker deserves access to safe, affordable, clean housing,” Cuomo said. “It is the foundation of our comprehensive efforts to address chronic disparities in central Brooklyn.”

He added, “This investment will seize the potential of vacant properties and help 1,000 seniors move into quality living environments and support our efforts to improve wellness and opportunities in these communities.”

New York State’s Comprehensive Approach to Fighting Poverty

In his remarks, Cuomo said Vital Brooklyn Initiative, which was modeled after the Bill Clinton administration’s empowerment zone, is a “comprehensive approach” to fighting poverty. The initiative will “provide housing, education, job training, open space, recreation, nutrition at the same time” in central Brooklyn.