EAST SYRACUSE, N.Y. — Redev CNY, a real-estate development firm based in Syracuse, says it’s starting construction on the St. Matthew’s Condos, a project that will bring 21 affordable condominiums to the East Syracuse community. The project is located at the former St. Matthew’s Elementary School at 214 Kinne St. in the village of East […]
EAST SYRACUSE, N.Y. — Redev CNY, a real-estate development firm based in Syracuse, says it’s starting construction on the St. Matthew’s Condos, a project that will bring 21 affordable condominiums to the East Syracuse community.
The project is located at the former St. Matthew’s Elementary School at 214 Kinne St. in the village of East Syracuse. It’ll offer a mix of 12 one-bedroom condos, 8 two-bedroom condos, and 1 studio condo.
Construction is expected to be completed by the summer of 2025, with sales slated to begin shortly thereafter, Redev CNY said.
Units will be available to individuals and families earning between 80 percent and 100 percent of the area median income (AMI) in Onondaga County. For 2024, 80-to-100 percent of AMI for a family of four in Onondaga County ranges from about $70,200 to $87,800. Pricing for the condos will range from $139,200 to $167,889, with an average sale price of $150,185.
“This project is critical to creating homeownership opportunities for first-time buyers and families making between 80-100% of AMI,” Ryan Benz, managing partner of Redev CNY, said in a statement. “We are incredibly proud to be the first affordable condo program across New York to utilize the AHOP program, and we are so thankful for our friends at HCR, HFA, and CPC for their dedication to making this vision a reality.”
The development is the first in New York State to use the Affordable Housing Opportunity Program (AHOP) through the NYS Homes & Community Renewal (HCR) and the Housing Finance Agency (HFA), per the Redev CNY announcement.
The project is further supported by National Grid’s Clean Heat Program and Onondaga County’s Housing Initiative Program. Redev CNY says both National Grid and Onondaga County contributed “vital funding to ensure the success” of this community-focused development.
