SYRACUSE, N.Y. — Housing Visions Consultants, Inc. will use a state award of $11.5 million to support two affordable-housing projects in Syracuse and one in Elmira.
New York State’s Office of Homes and Community Renewal (HCR) awarded the funding. The three projects will add 114 affordable housing units to the Housing Visions’ portfolio, Housing Visions said in a news release.
Housing Visions is a Syracuse–based nonprofit developer of affordable housing.
“There’s a tremendous need for high quality affordable housing in these communities as well as a tremendous need for investment to remove blight and stabilize these neighborhoods,” Kenyon Craig, president and CEO of Housing Visions, said.
These three funding awards will increase Housing Visions’ total community investments to nearly $340 million in 26 years, the organization said.
Syracuse projects
The projects include the Ethel T. Chamberlain House, an $8 million “supportive”-housing development which will “completely rehabilitate” a vacant, four-story property on Onondaga Boulevard in Syracuse.
The 26,000-square-foot structure is a former Greater Syracuse Land Bank property, Housing Visions said.
HCR awarded the project $2.19 million with additional funds from New York’s Homeless Housing and Assistance Project (HHAP), state and federal history credits, and Housing Trust Fund Corp.
HHAP is part of New York’s Office of Temporary and Disability Assistance (OTDA), according to the OTDA website. The Housing Trust Fund Corp. is part of Homes and Community Renewal.
The other Syracuse project is Butternut Crossing, a $15.5 million mixed income, mixed-use revitalization project on Syracuse’s Northside.
This development is part of a larger neighborhood-revitalization project, according to Housing Visions.
It resulted from collaboration between the Greater Syracuse Land Bank, the Northeast Hawley Development Association (NEHDA), the Syracuse Northeast Community Center, Home Headquarters, and Housing Visions.
HCR awarded Butternut Crossing $5.4 million in funding, including $1.03 million in annual, low-income housing tax credits with additional funds from the federal Housing Trust Fund (HTF), HOME Investment Partnerships Program (HOME), and community investment funds.
The HTF and HOME funds are part of the U.S. Department of Housing & Urban Development, according to its website.
Elmira project
Chemung Crossing is a $15 million mixed-use revitalization project in downtown Elmira.
This project targets 10 vacant and abandoned properties, according to Housing Visions.
Crews will develop a total of 45 rental units and more than 1,800 square feet of commercial space.
HCR awarded the project $3.8 million, including $989,000 in annual low-income housing tax credits with additional money from HOME funds and community investment funds, Housing Visions said.
Contact Reinhardt at ereinhardt@cnybj.com