That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
In October, the regional single-family closed median sale price was $706,000, marking an 8.6% year-over-year increase from $650,000 in October 2023.
The award was cited by the Hudson Valley Chapter of NYSCAR for the agents’ work in facilitating the sale of Eastgate Business Park in Goshen.
ALBANY— On Aug. 1, New York Gov. Kathy Hochul highlighted nearly 1,000 units of affordable housing being created through state funding, including the completion of 200 affordable senior housing units in Montgomery County and $406 million in financing awarded through bonds and subsidies to create nearly 800 affordable, sustainable homes in five transit-oriented developments.
The governor reported the state is providing approximately $120 million in funding for five projects in the New York metro area, including developments in the South Bronx and Yonkers. The governor made the announcement at a ribbon-cutting ceremony celebrating completed renovations at New Amsterdam Apartments, a 116-unit public senior housing development in the City of Amsterdam in upstate Montgomery County.
Funding is provided by New York State Homes and Community Renewal. The five projects were also awarded $286 million in tax-exempt housing bonds in the agency’s June 2023 bond issuance. When coupled with additional private funding and resources, the projects receiving funding are expected to create more than $553 million in overall investment.
The awarded projects are:
$70.2 million for St. Anselm Apartments in the Mott Haven section of the Bronx, an $89-million, 12-story building that will offer 126 apartments, including 63 supportive homes for individuals and families experiencing homelessness. The Institute for Human Development, the development arm of Catholic Homes New York, is constructing the building on an underutilized parking lot owned by St. Anselm’s Church. The building is within one block of a subway station and multiple bus stops.
$41.3 million for The St. Clair in Downtown Yonkers in Westchester County, a $60-million, 10-story building with 76 new affordable apartments and 2,000 square feet of commercial space. The energy-efficient building is being constructed on a remediated brownfield within a half-mile of the Yonkers Metro North train station. This project received a $418,000 award from the New York State Energy Research and Development Authority’s Clean Energy Initiative to achieve even higher levels of sustainability and carbon reduction. The developer is MacQuesten Development, LLC of Pelham.
$113.3 million for 2435 Pacific Street in the East New York section of Brooklyn, a $171-million, 10-story development with 236 affordable apartments, including 142 with supportive services, and a 7,000-square-foot commercial space to be used by the Love Fellowship Tabernacle Church. Developed by Alembic Development Company, 2435 Pacific is being constructed on a remediated brownfield and is within two blocks of the L train and the East New York Long Island Railroad station.
$78.6 million for Matinecock Court in the Town of Huntington in Suffolk County, a $99-million development that will bring 145 limited equity cooperatives and one superintendent’s unit. Seventeen two-story townhome buildings will sit on approximately 14.8 acres of currently vacant land and eight units will remain as rental units and will be set aside for individuals with intellectual or developmental disabilities. The developer is Housing Help, Inc. and D&F Development Group.
$102.5 million for Wyandanch Building L in the town of Babylon in Suffolk County, a $135-million development that will bring an additional 218 affordable homes to the Wyandanch Rising complex. This is the fifth building developed by Albanese Development Corporation adjacent to the Wyandanch Long Island Railroad station as part of the transit-oriented revitalization plan at the 40-acre site.
All projects meet the sustainability standards established by HCR in 2022 which promote healthier living environments and highly efficient buildings, and support the goals set by the New York State Climate Leadership and Community Protection Act.
In addition, each of the developments will offer free broadband services to residents, building on the Governor’s ConnectALL initiative, which has made historic investments to deliver high-speed Internet in underserved communities and close the digital divide for lower-income New Yorkers.
That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
In October, the regional single-family closed median sale price was $706,000, marking an 8.6% year-over-year increase from $650,000 in October 2023.
The award was cited by the Hudson Valley Chapter of NYSCAR for the agents’ work in facilitating the sale of Eastgate Business Park in Goshen.
MTA CEO Janno Lieber and others expressed support for the lower tolling fee that the governor said would bring in the $15 billion to the MTA that the higher fee was projected to raise.
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