ITHACA, N.Y. — Work is complete on the 42-unit, all-electric, energy-efficient Marketview Apartments along the waterfront at 102 Cayuga Park Lane, according to a news release from Gov. Kathy Hochul. “This component of the overall Cayuga Park project will serve those most in need in our community” Ithaca Mayor Laura Lewis said in the release. […]
ITHACA, N.Y. — Work is complete on the 42-unit, all-electric, energy-efficient Marketview Apartments along the waterfront at 102 Cayuga Park Lane, according to a news release from Gov. Kathy Hochul.
“This component of the overall Cayuga Park project will serve those most in need in our community” Ithaca Mayor Laura Lewis said in the release. “It is fantastic that residents will have a new high-quality, energy-efficient home that is close to so many amenities including the newly opened medical-office facilities on the campus.”
All 42 apartments are affordable to households with incomes at or below 60 percent of the area median income. According to the property’s website (marketview.baldwinrealestatecorp.com/), one-bedroom apartments range in size from 743-745 square feet and rent for $794 to $864 per month. Two-bedroom apartments, which have one bathroom and run between 927 and 930 square feet, rent from $957 to $1,039 per month.
Rochester–based Park Grove Development, LLC, developed the $14 million project in alliance with Cayuga Medical Center of Ithaca, Inc. as a nonprofit partner. Cayuga Health began moving practices into its new 65,000-square-foot building there in October.
“Our latest investment in Ithaca continues a pattern of sustained growth and provides an opportunity for more people to enjoy the benefits of this vibrant city and its wonderful waterfront,” Hochul said in the release. “The opening of Marketview Apartments demonstrates that commitment to addressing the housing crisis will benefit residents in communities across the state and ensure more New Yorkers have an affordable, modern, and secure place to call home.”
Each apartment at Marketview has its own patio or balcony. Other amenities include free high-speed internet, on-site laundry, included electric heat and central forced air, a community patio area, on- and off-street parking, a playground, and nearby amenities including local parks, ball fields, and hiking/biking trails. The property is located on the bus line and services such as snow removal, water/sewer, and trash/recycling removal are included. Residents also have plot access at the nearby Ithaca Community Gardens.
Environmental elements include open green space and stormwater-management gardens featuring native plantings.
The Marketview Apartments project received funding from NYSERDA’s New Construction Housing Program to achieve a high level of sustainability and carbon reduction. The all-electric development meets green-building standards required for Enterprise Green Communities Plus certification and U.S. Green Building Council LEED standards. All apartments have energy star-rated appliances, equipment and lighting, low-VOC building materials, and integrated pest management.
Financing for the project includes nearly $9 million in federal Low-Income Housing Tax Credits and $2.4 million in subsidies from the New York State Homes and Community Renewal (HCR). NYSERDA awarded $147,000, the Tompkins County Housing Trust Fund contributed $300,000, and the Community Preservation Corporation provided a $1.8 million permanent loan insured by the State of New York Mortgage Agency.
In the last five years, HCR has created or preserved more than 1,000 affordable homes in Tompkins County, the state says.
