Kingston City Land Bank, Maeda Construction, CPC, State of New York, and Partners Announce Completion Of Legacy Cities Access Project

Four Vacant Single-Family Properties Successfully Rehabilitated into Affordable Homeownership Opportunities for First-Time Homebuyers

Kingston, NY (April 11, 2024) – The Kingston City Land Bank (KCLB), Maeda Construction (Maeda) and Community Preservation Corporation (CPC), are proud to announce the completion of the KCLB’s Legacy Cities ACCESS program. The KCLB purchased the four single-family homes in this project – 29 Rogers Street, 63 German Street, 237 East Union Street, and 169 Hurley Avenue – from the City of Kingston for the full price of back taxes. Under the program, each home was fully rehabilitated and sold to first-time homebuyers.

63 German Street and 237 East Union Street were sold at the end of 2023. Renovations at 29 Rogers Street and 169 Hurley Avenue have been completed and the sales of the properties are scheduled to close this month. All homes were sold to households at or below 80% of the Area Median Income.

The scope of work included upgrades to structural, plumbing, and electrical systems, as well as new kitchens, baths, roofs, flooring, windows, doors, and asbestos abatement work. The homes have received efficiency upgrades including insulation, Energy Star windows and appliances, and high-efficiency electric mini-split systems for heating and cooling.

Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The Legacy Cities ACCESS program is breathing new life into distressed properties, creating affordable homeownership opportunities for first-time homebuyers and homebuyers of color, and expanding economic opportunities for minority developers and real estate professionals. This innovative partnership is part of Governor Hochul’s larger efforts to promote affordable homeownership and address New York’s historic housing shortage. Congratulations to the Kingston City Land Bank and to the city’s four new homeowners!”

Sadie McKeown, President of the Community Preservation Corporation said, “The Legacy Cities ACCESS program shows us the kind of positive change that we can accomplish together when we align our resources and commit to making community development fair, inclusive, and equitable. Affordable homeownership is the bedrock of communities, and it has been remarkable to see homes that were once eyesores turned into assets of efficient, sustainable, and affordable housing. My thanks to HCR, the Kingston City Land Bank, and Maeda Construction for their commitment to a making New York more affordable, sustainable, and equitable.”

KCLB Board Chair Nate Hennagin said, “We are excited to be the first organization to complete a project under HCR’s amazing Legacy Cities ACCESS Program. We recognize and celebrate our critical partnership with the City of Kingston and all involved to continue to provide many more well-designed, affordable homes for current and future residents of our community.”

Maeda Construction Principal Robert Drost said, “This program helps meet a great need in the Mid-Hudson region. Developing these vacant buildings to provide first time, affordable, home ownership changes people’s lives for the better, and we are proud to be a part of that.”

The KCLB partnered with Maeda Construction, a Certified MWBE General Contracting firm based in Staatsburg. Goldstein Hall provided legal counsel to the partnership. Homeownership Counseling services were provided by PathStone Community Improvement of Newburgh.

Financing for the project included $867,000 in construction funding from CPC and $600,000 from New York State Homes and Community Renewal. The total development cost of the project – which was completed on budget and ahead of schedule – was approximately $2 million.

The Legacy City ACCESS program is available in communities outside of New York City that are addressing blight through redevelopment of municipally-owned property. The program makes up to $200,000 per unit available in cost subsidy for the rehabilitation of assemblages of up to 1-one to three-family buildings as first-time homeownership opportunities.

Legacy Cities ACCESS is a partnership between New York State Homes and Community Renewal and The Community Preservation Corporation, a not-for-profit community development financial institution that focuses on the preservation and creation of affordable and workforce housing. CPC is providing construction financing and technical assistance to the developers through its ACCESS program, an initiative that provides financial resources and capacity-building support to real estate entrepreneurs of color who have historically faced barriers to entry in the development industry. 

Congressman Pat Ryan said, “I’m fighting every single day to address the housing affordability crisis, which is impacting so many families across the Hudson Valley. The Legacy Cities Program is a huge step in the right direction, and it shows what we can accomplish when elected officials and community partners come together with a common purpose. I’m incredibly proud that their first project is right here in Kingston – none of this would have been possible without the great work of the Kingston City Land Bank. Together, we’ll keep working to ensure the American dream of home ownership is a reality for every Hudson Valley family.”

Senator Michelle Hinchey said, “The Legacy Cities ACCESS Program helps make the dream of affordable homeownership attainable for many families across the Hudson Valley, which is why I fight for funding for this program every year in the budget. We are incredibly proud that Kingston is the first in the state to benefit from the program, thanks to the leadership of Kingston City Land Bank and many state partners. The conversion of these four neglected and vacant properties into affordable, move-in-ready homes has opened doors for first-time homebuyers who have been priced out of the local market. This will not only offer immediate housing solutions but also pave the way for families to build generational wealth and stability through homeownership. Legacy Cities is exactly the type of initiative we need to be investing in, and I look forward to seeing the program provide many more affordable homes for Hudson Valley residents.”

Assemblymember Sarahana Shrestha said, “A permanent home is the first step to stability, and for younger generations as well as people of color, first-time homeownership is increasingly out of reach. I’m glad to be able to celebrate the first-ever Legacy Cities Access Program project completion with Kingston City Land Bank, as I continue to work on long-term solutions where New Yorkers don’t have to pay more than 25% of their income on permanent and high-quality housing.”

City of Kingston Mayor Steve Noble said, “I congratulate the Kingston City Land Bank for being the first to utilize Legacy Cities Access Program funding to rehabilitate four vacant and deteriorating homes right here in Kingston. We are thrilled to see this investment in our community. Through our partnership with the KCLB and the leadership and foresight of Governor Hochul with the Legacy program, these formerly vacant properties are now beautiful homes and the surrounding neighborhoods are revitalized.” 

Goldstein Hall Partner Brian Hsu said, “Congratulations to the Kingston City Land Bank and Maeda Construction on this innovative and successful project to create more affordable home ownership opportunities for the City of Kingston.”

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The Community Preservation Corporation (CPC) is a nonprofit multifamily finance company founded in 1974 to provide financial and technical resources to stabilize underserved communities. Today, CPC uses its unique expertise in housing finance and public policy to expand access to housing, advance diversity and equity within the development industry, and expand investment in the green economy. Since its founding, CPC has invested over $14.8 billion to finance the creation and preservation of more than 225,000 units of housing. The company provides a suite of construction and permanent products and is an equity investor with 4,200 affordable units under ownership. CPC is a carbon-neutral company and has been rated AA- by S&P. Visit CPC at , and on Facebook, Twitter and LinkedIn.

The Kingston City Land Bank was formed with the purpose of acquiring title to tax-foreclosed and other distressed properties in the City of Kingston, removing barriers to redevelopment and returning properties to the tax rolls. Its mission is to foster an equitable community where vacant or distressed properties are transformed into community assets that improve the quality of life for Kingston residents, stabilize and enhance neighborhoods, and create new pathways for social and economic development. For more information about the KCLB and to join our mailing list for updates, visit  and follow us on Instagram at @kingstoncitylandbank