SARATOGA SPRINGS — A new 63-unit affordable and supportive housing complex in Saratoga Springs is officially complete.
Work on the $20 million Promenade Apartments began in 2019 and received $16.5 million in low-income tax credits through New York State Homes and Community Renewal.
Promenade consists of a four-story building with 41 apartments and three two-story townhouse-style buildings with a total of 22 units. There are 31 one-bedroom, 26 two-bedroom, and six three-bedroom apartments, all priced to be affordable to households earning less than 81% of area median income.
Ten units will be reserved for homeless veterans who need supportive services; these services will be provided by the Veterans & Community Housing Coalition.
The project was developed by Norstar Development USA and the Saratoga Springs Housing Authority.
Gov. Andrew Cuomo announced the completion Tuesday, and said it was part of his five-year, $20 billion plan to build or preserve more than 100,000 units of affordable housing and 6,000 units of supportive housing.
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Nice!