Three-unit building is first project completed through the County’s Housing Trust Fund
(May 29, 2025) POUGHKEEPSIE, NY – Dutchess County Executive Sue Serino joined James Patterson of 21st Century Living LLC, the Community Preservation Corporation (CPC), local community leaders, and residents today to celebrate the completion of the first new affordable housing project funded through the Dutchess County Housing Trust Fund (HTF). Located at 30-32 Smith Street in the City of Poughkeepsie, this newly constructed three-unit development received a $346,134 HTF award and is the latest example of the County’s ongoing efforts to expand access to safe, affordable housing opportunities.
Dutchess County Executive Sue Serino said, “This project is a reminder of what’s possible when local government works together with people who care not just about the buildings, but about the lives inside them. Thanks to the Housing Trust Fund and local champions like James Patterson, we’re creating safe, stable homes that allow families to stay rooted in the community they love. It’s a practical solution to a real challenge – and we need more of that across Dutchess County.
Located in a walkable, transit-accessible neighborhood near schools, community services and employment opportunities, the new triplex was developed by 21st Century Living LLC, owned and operated by Mr. Patterson, a lifelong resident of the City of Poughkeepsie. The mission of 21st Century Living is to provide affordable, modern living conditions to the local community. The 2-bedroom and 3-bedroom units feature modern design layout with highly efficient features. Rental costs are below market rate and are affordable to households at 60% and 80% of area median income. All units have been rented, with tenants moving in June 1st.
Mr. Patterson is also a graduate of CPC’s ACCESS Incubator training program. CPC’s ACCESS Initiative provides financial resources, capacity building opportunities and technical assistance to entrepreneurs of color who have historically faced barriers to entry in the real estate development market. The ACCESS Incubator, a free, virtual training series that includes eight 90-minute sessions takes participants through each phase of the development process, and features expert instruction, interactive components and project development support from housing consultants.
“I’m just so proud of producing product for those, who for the most, part wouldn’t be afforded the opportunity. Access to affordable housing keeps our community vibrant – all of our new tenants are fellow Poughkeepsie High School graduates – people who have grown up here and want to build their lives in this community,” said Mr. Patterson. “I’m thankful for Dutchess County’s assistance, through the Dutchess County Housing Trust Fund, in making projects like this a reality. As 21st Century Living approaches our first decade in business, I’m attuned to the depths we can reach and the people we can help along the way and I am grateful for the partnerships we have forged.”
Including acquisition, soft costs and construction costs, the total cost of the 30-32 Smith Street project was approximately $900,000. In addition to the $346,134 from the Dutchess County Housing Trust Fund, the project received $350,000 in construction and permanent financing from the Community Preservation Corporation (CPC), a 50-year-old nonprofit multifamily finance company that has been serving the region’s housing finance needs for more than three decades.
County Executive Serino said, “This isn’t just the opening of a building – it’s the beginning of a new chapter for three families. The Housing Trust Fund was created to turn hope into action and deliver real results, and that’s exactly what this project represents. I’m looking forward to seeing more projects like this take shape – projects that truly meet people where they are and give them a real chance at a safe, stable place to call home.”
“We’re proud to support this meaningful project in the City of Poughkeepsie, which not only brings quality affordable housing to the neighborhood but also marks an exciting milestone for a local developer with deep roots in the community,” said Matthew Spallina, Assistant Vice President at the Community Preservation Corporation. “James Patterson’s dedication to this project, along with his desire to learn and grow through the ACCESS Incubator program reflects the kind of talent and commitment we’re proud to invest in. We look forward to continuing our relationship with James as he takes the next steps toward revitalizing his neighborhood and thank Dutchess County Executive’s Office for their commitment to providing the resources needed to bring projects like this to fruition.”
Applications for the second round of Housing Trust Fund funding, prioritizing smaller housing projects particularly in more rural communities, are currently underway. Ahead of the June 9 deadline for applications, County Executive Serino met with local housing professionals – developers, builders and the like – at a Housing Trust Fund Applicant Workshop earlier this month to discuss the importance of being part of the solution to the housing shortage faced by countless communities nationwide.
This project is one of six funded through the first round of the Housing Trust Fund, totaling $8,996,134 in County funds for the development or preservation of more than 600 affordable rental units. The next HTF-funded projects expected to be completed include a single-room occupancy housing project in the City of Poughkeepsie and an 18-unit rental project in the City of Beacon.
The Dutchess County Housing Trust Fund, established to support the development and preservation of affordable housing, provides targeted financial assistance to projects that demonstrate long-term affordability and community benefit. The HTF’s Housing Creation and Preservation (HCP) program provides funding for new affordable rental housing through new construction, rehabilitation of existing housing stock and adaptive reuse of non-residential structures. HCP-funded projects may be fully affordable or mixed-income; single-room occupancy rental housing is eligible under this program.
More information about the Dutchess County Housing Trust Fund is available online at: https://www.dutchessny.gov/Departments/Planning/Dutchess-County-Housing-Trust-Fund.htm