Chatham Gardens, a Mitchell-Lama Property in Rochester, Features 184 Renovated One-, Two- and Three-Bedroom Affordable Apartments
ROCHESTER, N.Y., October 3, 2018 – Nonprofit housing agency Rochester Management, together with the City of Rochester and the Community Preservation Corporation (CPC), celebrated the recently renovated Chatham Gardens during a ribbon cutting ceremony Wednesday. The affordable housing community serving Rochester families underwent a $4.5 million renovation, which was completed this summer.
“Chatham Gardens has been an important part of our nonprofit’s ability to provide quality, affordable housing here in Rochester for more than 50 years,” said Peggy Hill, Chief Executive Officer of Rochester Management. “We’re proud to be able to reinvest in this community and this neighborhood, providing more modernized housing and amenities for the families that call Chatham Gardens home.”
The 184-unit community, which offers one-, two- and three-bedroom apartments at affordable rents, was built in 1964 under the New York State Mitchell-Lama program for low-to-middle income housing.
In 2016, Rochester Management initiated a renovation project at the property. As part of the project, new bathrooms and kitchens were installed, including new cabinetry, counter tops, flooring and Energy Star appliances. In addition, roofs, boilers and the domestic hot water system were replaced. As part of the final stage of the project, a new fully accessible community center and office were built on the property, providing additional space for residents to gather and socialize.
“I want to congratulate Rochester Management and the Community Preservation Corp. on the successful completion of the Chatham Gardens renovation project,” said Mayor Lovely A. Warren. “The Rochester community is extremely fortunate to have such partners who are committed to providing citizens with access to decent and affordable housing. Thanks to their investment, Chatham Gardens can continue its legacy as a pillar of stability in this Upper Falls neighborhood. Rochester Management and the Community Preservation Corp. are critical partners in our goals to create more jobs, safer and more vibrant neighborhoods and better educational opportunities.”
“Mitchell-Lama housing, like Chatham Gardens, has long history of serving as an irreplaceable resource of quality, affordable housing for low- and moderate-income New Yorkers,” said Miriam Zinter, Mortgage Officer at CPC’s Rochester office. “The rehabilitation of Chatham Gardens and the preservation of its affordability means that it will continue to serve the housing needs of the tenants and the community for years to come. My thanks to Rochester Management, Mayor Warren and the City of Rochester, and to Comptroller DiNapoli and the New York State Common Retirement Fund.”
The City of Rochester extended the property’s reversion agreement, ensuring that Chatham Gardens can continue to provide affordable housing to Rochester families for years to come, and provided the necessary approval for its refinancing through CPC.
CPC provided a $3.2 million construction loan as well as a permanent loan funded through the company’s partnership with the New York State Common Retirement Fund.
Two local firms, Konopka Architecture and BLM Construction, handled the design and construction of the community center and office building. Rochester Management’s own maintenance team completed the interior apartment renovations.
About Rochester Management
With roots dating back to the 1940s, Rochester Management has long been committed to providing quality, affordable housing to those in need, including senior citizens, veterans, students and low-income individuals. The nonprofit was founded by citizens in partnership with local government in order to meet the affordable housing needs of our community, and that continues to be our focus today. Today Rochester Management manages more than 3,600 residential units for low- and middle-income individuals, many of whom have spent many years in these homes. Through its talented team of dedicated professionals, Rochester Management is committed to providing outstanding service to the residents of its stable, vibrant and well-maintained communities throughout Upstate New York.
About the Community Preservation Corporation (CPC)
Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. The company provides a full suite of capital products through its construction lending, permanent lending, and equity investing platforms. Since inception, CPC has leveraged approximately $10 billion in private and public investment to finance more than 193,000 units of multifamily housing. CPC’s work with its partners has helped revitalize countless neighborhoods and provided quality housing for families, senior citizens, and individuals with disabilities. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.