Part of Governor’s $1 Billion House NY Initiative, Homesteads on Ampersand is First Planned Transit-Oriented Affordable Housing Development in Clinton County
Governor Andrew M. Cuomo today announced the completion of Homesteads on Ampersand in the Town of Plattsburgh. The $14.3 million project is the first planned transit-oriented affordable housing development in Clinton County, offering easy access to public transportation and within a short walk to shopping, services, and SUNY Plattsburgh. The development is part of the Governor’s $1 billion House NY program, the largest investment in New York State’s affordable housing stock in at least 15 years. House NY is on target to create or preserve 14,300 affordable units by 2018.
“Every New Yorker deserves a safe, affordable and decent place to call home,” Governor Cuomo said. “The completion of Homesteads on Ampersand is another example of the real progress we have made in generating opportunity for those in need through the House NY initiative and I am proud to see this project completed.”
“The Homesteads on Ampersand is an excellent example of Governor Cuomo’s vision of integrating people into communities through the use of workforce housing,” Lieutenant Governor Kathy Hochul said. “This development provides affordable homes in a convenient, transit-oriented, walkable community- creating an ideal place to grow roots in Plattsburgh. The Governor’s House NY initiative enables New Yorkers in Plattsburgh, the North Country, and throughout the state to work and prosper within their local communities.”
The development features 64 affordable one- , two- , and three-bedroom apartments, including 25 units and supportive services for residents with psychiatric disabilities. The four-building development incudes a community building with laundry, a meeting room, a computer area, a patio and playground. Nine Units are accessible, adapted and move-in ready for persons who have a mobility impairment. Four units are fully accessible, adapted and move- in ready for those who have a hearing or vision impairment.
The workforce development continues the revitalization of the Plattsburgh area, complementing companies like SpencerARL, Prevost, and Nova Bus which are expanding operations creating jobs for the area residents, thanks to State investments.
Homesteads on Ampersand is located at the foot of Consumer Square Shopping Center and designed to be a short walk to shopping along the Route 3 corridor and to SUNY Plattsburgh. Clinton County provided a bus shelter directly on the site of Homesteads Ampersand and offers regularly scheduled bus services for residents.
Homesteads on Ampersand is created in partnership with New York State Homes and Community Renewal (HCR), New York State Office of Mental Health (OMH), Regan Development, and The Community Preservation Corporation. Support services are provided by Behavioral Health Services North, Inc, a non-profit organization that provides a broad array of mental health services to Clinton County.
The $14.3 million project was financed with $780,539 in Low Income Housing Tax Credits through New York State Homes and Community Renewal (HCR), which generated approximately $7 million for the development. HCR also provided a $2.177 million Housing Trust Fund loan. These investments leveraged a $9 million construction loan from The Community Preservation Corporation, as well a $4.9M State of New York Mortgage Agency (SONYMA)-insured Permanent Loan through the State’s Common Retirement Fund.
Rents range from $479-$948 per month and are affordable to households with incomes at or below 50% of area median income.
James S. Rubin, Commissioner of New York State Homes and Community Renewal said,“Governor Cuomo’s dedication to working in partnership with communities and investing in projects that are socially diverse and help improve people’s lives is clearly displayed in all aspects of Homesteads on Ampersand. This project allows families, individuals, people with special needs, professionals, retirees, and students to live affordably at the center of their community. The Governor’s House NY initiative is creating opportunities like this across New York State and HCR – through the provision of the Low Income Tax Credits, the HTF loan and SONYMA mortgage insurance – is proud to be a part of the transformation.”
Dr. Ann Marie T. Sullivan said, New York State Office of Mental Health Commissioner said,“New York State continues to expand the opportunities for individuals with disabilities to find safe, secure, and affordable housing. The Homesteads on Ampersand will not only provide shelter, but also the support that people need to get back on their feet. Under Governor Cuomo’s direction, the Office of Mental Health is proud to have helped build more than 6,000 units of safe, secure, and affordable housing in the last four years, with an additional 8,000 units currently in development.”
Congresswoman Elise Stefanik said, “This important housing will go a long way to help low income and special needs families in Plattsburgh,” said Congresswoman Stefanik. “It’s important for our community to help those in need, and this news is a welcome holiday season announcement for the Plattsburgh community. I applaud Governor Cuomo for making this a priority.”
Senator Betty Little said,"Adding high quality affordable housing to communities is critical. Homesteads on Ampersand is another asset to this growing area and I thank the Governor, the town, and the entire team for bringing this project to life."
Assemblywoman Janet Duprey said,"When you provide attractive, sustainable affordable homes in a convenient location, you invest in the future of individuals, families, and entire communities. Thanks Governor Cuomo, the Town of Plattsburgh, and all the partners whose dedication made this development possible. And congratulations to all the residents who will enjoy their new homes."
Rafael E. Cestero, President and CEO of the Community Preservation Corporation said, “When CPC funds a project, we are investing in the families who will call it home and the long-term stability and vibrancy of the community it will serve. Homesteads on Ampersand is a transformative project that will provide a much needed hand-up and sense of place to dozens of working-class New York families, with supportive services and case management for those most in need. I thank Governor Cuomo for his support, our State partners at HCR and OMH, project developers Kenneth and Lawrence Regan, SONYMA, and the State’s Common Retirement Fund for their commitment to bringing a resource of quality affordable housing to the Plattsburgh community.”
Larry Regan, President and CEO of Regan Development said, "We are proud to be a partner in Homesteads on Ampersand. Thanks to Governor Cuomo’s commitment to affordable housing and the dedication of all our partners, we were able to develop a wonderful place to live for people in need of new, energy efficient homes. It has been a very positive experience working with the Town of Plattsburgh to design a walkable and transit-oriented development, and we look forward to a strong continuing relationship with the community and it leadership.”
Bernard Bassett, Plattsburgh Town Supervisor said, “This has been a very rewarding project for the Town of Plattsburgh and the greater Plattsburgh area. Thank you to Governor Cuomo, Regan Development, and all the people and organizations who invested in making this project possible. Mr. Regan’s willingness to work with us to help blend the Homesteads into the community and to help make this project, and the surrounding area, pedestrian friendly. The Homesteads helps to meet the increasing need for quality affordable housing in our community that is dynamic and creating new jobs. I believe this development will be well received by those looking for a quality place to live.”
Samuel R. Dyer, Chairman of the Clinton County Legislature said,“Homesteads on Ampersand is a wonderful addition to the town and the entire county, offering housing that is not only attractive and affordable, but within easy access to all this area has to offer. Clinton County was happy to provide a bus shelter directly on the site of Homesteads on Ampersand to offer convenient transportation to its residents. Thanks to Governor Cuomo, the Town of Plattsburgh, Regan Development, and all the participants we have a great new addition to Clinton County.”
Contact: Eric Bederman, VP/Communications
212-869-5300, ext. 482 [email protected]