BALLSTON – A planned apartment complex just south of Ballston Spa that will be geared to those who need support to live independently is receiving $5.6 million in state affordable housing financing, Gov. Andrew M. Cuomo announced Wednesday.
The 60-unit Dominic Hollow project was included in $98 million in affordable housing funding statewide announced by Cuomo. The money is intended to help revitalize communities, fight homelessness, and expand access to energy-efficient, affordable housing opportunities, the governor said.
A $5.6 million financing award went to the planned Dominic Hollow Apartments in the town of Ballston. The project is sponsored by RISE Healthy Housing and Support Services of Saratoga Springs, which said the complex will include 18 units designated for supportive housing, 12 units for transitional housing, and 30 units designated as affordable housing for general community use.
RISE is a human service agency that serves people in Saratoga and the surrounding counties to provide safe, healthy housing and support services to people with mental health issues, substance use, and other life challenges. Project development partner CSD Housing of Pittsford said the apartments are expected to open in the spring of 2023.
Cuomo said the projects being supported by the state are part of his efforts to address the housing issues brought on by the pandemic and end homelessness.
“As we rebuild from the pandemic, these awards are further proof of our unwavering commitment to ensuring all New Yorkers have a safe, stable and affordable place to live,” Governor Cuomo said. “By continuing to make these important investments in affordable and supportive housing across the state, we can improve the lives of families while building stronger, more diverse, and more equitable communities.”
The awards are part of a $20 billion housing and homelessness plan, which Cuomo said will ultimately create 100,000 units of affordable housing and 6,000 supportive units. Funding is provided through the state Homes and Community Renewal’s multifamily finance program, a competitive process used to award federal Low-Income Housing Tax Credits.
The developments will also provide free or low-cost broadband services to tenants and will be developed to high energy efficiency standards, reducing carbon emissions and reliance on fossil fuels.
Among other awards in the region:
— $3.2 million was awarded to Holland Circle Apartments in the town of Amsterdam. The development will include 48 affordable apartments with supportive services for 27 adults living with mental illness.
— $4.7 million for Erie Point in Cohoes. The development will create 40 apartments and a pocket park across eight scattered locations. Half of the apartments will be paired with supportive services for families experiencing homelessness. The state also offers affordable housing vouchers for some of the units.