SYRACUSE, N.Y. — State and local officials have formally opened the Catherine Street Apartments, a newly constructed $17.6 million “affordable and supportive” housing development at 501 Catherine St. in Syracuse.
Thirty of the structure’s 50 apartments are reserved for individuals who are eligible for on-site supportive services that promote “stability, health and independent living,” the office of Gov. Andrew Cuomo said in a Wednesday news release.
State financing for the $17.6 million project includes $8.6 million in permanent tax-exempt bonds; federal low-income housing tax credits that generated $5.7 million in equity; and an additional $2.7 million in subsidy from New York State Homes and Community Renewal (HCR).
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The New York State Office of Mental Health provided $8.5 million in capital funding and will also offer funding for the onsite supportive services.
CSD Housing, LLC, headquartered in suburban Rochester, in partnership with Central New York Services, Inc. developed the project, Cuomo’s office said.
“We’re thrilled with the community’s response to Catherine Street.” John Warren, executive director of Central New York Services, Inc., said in the release. “The demand for this type of housing propelled us to begin construction on another building of the same concept on State Fair Boulevard, which is scheduled to open in 2020.”
The four-story Catherine Street Apartments has 40 one-bedroom apartments and 10 two-bedroom apartments. Twenty apartments will be affordable to households earning at/or below 50 percent of the area median income, and 30 apartments will be affordable to households earning at/or below 60 percent of the area median income, per Cuomo’s release.
Thirty apartments are reserved for individuals with mental-health diagnoses. Central New York Services, Inc. will provide connections to supportive services for these households, including skill building and recovery-based case management. Most of the building’s units are occupied.
Building amenities include laundry facilities, common areas with kitchenettes, a seating area in the lobby, and outside landscaped areas.
Since 2011, New York State Homes and Community Renewal has invested more than $95 million in Syracuse, creating or preserving affordable housing for more than 3,700 people, the release stated.
Contact Reinhardt at ereinhardt@cnybj.com
