Governor Hochul announces completion of $23 million affordable housing development in Poughkeepsie

Governor Kathy Hochul today announced the completion of a $23 million affordable housing development in the town of Poughkeepsie. Crannell Square offers 75 affordable apartments in an energy-efficient building, including 12 supportive housing units and 26 with a preference for income-eligible artists. The building, built on the site of an underutilized parking lot, is designed to improve the streetscape and increase pedestrian traffic downtown.

“My administration continues to be focused on increasing the supply of affordable housing in towns like Poughkeepsie with great access to jobs, transit and services,” Governor Hochul said. “This investment in Crannell Square will facilitate a more vibrant, safe and attractive downtown while providing 75 modern, energy-efficient homes for individuals and families. By creating new affordable housing options in New York cities, we will improve the quality of life and stability for all New Yorkers.”

Crannell Square is part of Governor Hochul’s statewide plan to make housing more affordable, equitable and stable. In the recently enacted State Budget, the Governor successfully secured a new five-year, $25 billion comprehensive housing plan that will increase housing supply by creating or preserving 100,000 affordable homes in New York City, including 10,000 with support services for vulnerable populations, plus the electrification of 50,000 additional homes.

The development consists of a single four-storey building in the historic Upper Mill Street area of ​​Poughkeepsie. Crannell Square is designed to recreate the historic front porch design that is prevalent in the surrounding neighborhood and encourage pedestrian traffic along Mill Street. The development includes a new pedestrian plaza with benches and landscaping on the northeast corner of the site which follows the original Crannell Street path.

The 75 apartments include a mix of one-, two-, and three-bedroom units that are affordable for households with an income at or below 100% of the region’s median income.

Five apartments are reserved for people with mental health needs and seven apartments are reserved for people with physical disabilities. These residents will have access to on-site support services provided by Hudson River Housing. There is an apartment for a superintendent on site.

The building was designed to meet the standards of the New York State Energy Research and Development Authority’s Low-Rise New Construction program and Leadership in Energy and Environmental Design certification. Energy efficiency measures include high-efficiency HVAC and domestic hot water systems, high-performance spray foam insulation, and Energy STAR windows and appliances. The building is EPA Energy STAR Homes v3.1 certified and EPA Indoor airPLUS certified.

Residential facilities include a community hall, laundry room, pedestrian plaza, co-working space, tenant lounge, and indoor and outdoor bike storage.

Crannell Square is located within walking distance of Poughkeepsie Metro-North and Amtrak Station, Walkway Over the Hudson, Cunneen-Hackett Arts Center, Poughkeepsie Public Library, City Hall and County Offices of Dutchess, as well as the historic Bardavon Opera House.

The project developers are Kearney Realty and Development Group, Inc. and Hudson River Housing.

State funding for development included federal and state low-income housing tax credits that generated $11.5 million in equity and $1.7 million in grant from of New York State Homes and Community Renewal. The site was successfully remediated under the Department of Environmental Conservation’s brownfields cleanup program and became eligible for $2.9 million in tax credits upon project completion. NYSERDA provided $65,000 in support under the Low Rise New Construction Program. The Community Preservation Corporation provided $12 million in construction funding, as well as $5.5 million in permanent funding through its partnership with the New York State Common Retirement Fund. Dutchess County received $500,000 in HOME funds.

In the 2022-23 state budget, Governor Hochul extended and expanded New York State’s thriving brownfields cleanup program, which was set to expire in December 2022. The program is reauthorized for 10 years. The budget improves the PCA by encouraging cleanups in disadvantaged communities. Additionally, the program reaffirms Governor Hochul’s commitment to affordable housing development by expanding the universe of affordable housing programs eligible for BCP property tax credits, providing critical benefits to incentivize brownfield redevelopment as as much-needed affordable housing. In addition, BCP is now encouraging the development of select renewable energy facility sites, with new tax credits, to help focus BCP-focused redevelopment and meet the state’s ambitious climate goals.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said: “As Poughkeepsie’s economy grows and attracts new residents, we need to ensure there is affordable housing to protect long-time residents, families and people with special needs from displacement. This investment $23 million will bring 75 new apartments to the Upper Mill Street neighborhood and help foster a more walkable and welcoming downtown, while enhancing the city’s thriving arts community.We are thrilled to partner again with Kearney Realty and Hudson River Housing for another successful development.

Doreen M. Harris, President and CEO of the New York State Energy Research and Development Authority, said: “With the completion of the Crannell Square project, residents of the Poughkeepsie area will now have increased access to affordable housing that provides an energy-efficient, healthy and comfortable living environment with a low carbon footprint. New York State Energy Research and Development Authority is proud to support projects like this as they advance Governor Hochul’s commitment to achieve two million climate-friendly homes with a focus on equity to ensure that all New -Yorkers benefit from investments in clean energy.”

New York State Department of Environmental Conservation Commissioner Basil Seggos said: “The Department of Environmental Conservation is proud to help bring affordable housing to Poughkeepsie and to continue to work under Governor Hochul’s leadership to revitalize and clean up communities across the state. This is what the New York’s brownfields cleanup program strives to accomplish and we thank Homes and Community Renewal and local communities throughout the region who are working to restore and redevelop underutilized properties to benefit the Valley of the River. ‘Hudson and all New Yorkers.’

State Senator Sue Serino said: “The completion of this incredible project couldn’t come at a better time as our community is in dire need of high quality, affordable housing. We are grateful to Kearney Realty and Development Group, Inc. and Hudson River Housing for making such a strong investment in the town of Poughkeepsie and for their commitment to ensuring our neighbors have access to such a unique local space.”

Assemblyman Jonathan Jacobson said: “This is a great example of public-private partnership and shows the Kearney Group’s commitment to providing quality, affordable housing in the town of Poughkeepsie.”

Poughkeepsie Mayor Rob Rolison said: “The city is delighted that this project has come to fruition. We have a huge need for affordable housing in the city, and Crannell Square has a great mix of housing units that are bringing activity to this area and will boost business. nearby. as well.”

Hudson River Housing Executive Director Christa Hines said: “Hudson River Housing believes that affordable housing is the essential foundation of thriving communities that provide opportunity for all. Our home is the base from which we can all realize our full potential. Yet too many Poughkeepsie residents are struggling to maintain this base, especially as housing costs continue to rise. We are proud to be part of bringing Crannell Square to fruition as an important step in ensuring long-term affordability in the town of Poughkeepsie.

New York State Comptroller Thomas DiNapoli said“Real estate investments have provided a strong return to the state pension fund and benefited many areas of upstate New York. We are proud that the state pension fund can help revitalize New York’s communities and to provide much-needed affordable housing to those in need.”

Dutchess County Executive Marc Molinaro said: “With the rising cost of living in our area and country, it is more important than ever to have more affordable housing in Dutchess County and the Town of Poughkeepsie. These apartments will help support local families, artists and those who live with challenges such as physical We are grateful to have this beautiful new building in our county seat and to Kearney Realty and Development Group, Inc., and Hudson River Housing for their commitment to improving the neighborhood .

Community Preservation Corporation Senior Vice President and Regional Director Doug Olcott said: “We are proud to have been able to help fund another project with our longtime partners at Kearney Realty to help continue the revitalization of the Poughkeepsie community. The transformation of this lot from a parking lot and former brownfield industrial into a beautiful, energy-efficient building is something we should all be proud of Crannell Square will be a vital source of quality affordable housing that will provide a safe and supportive environment for its tenants, and will be an anchor stability for the community I would like to thank Ken and Sean Kearney, Hudson River Housing, Governor Hochul and her team at UNHCR, and Comptroller DiNapoli and our lending partners at the State Pension Fund for their support.”

Kearney Realty and Development Group President Ken Kearney said: “Crannell Square is another successful example of New York State’s innovative middle-income housing program. Once an underutilized parking lot, it is now home to a vibrant mixed-income community. We are so proud to bring this dynamic development at the Town of Poughkeepsie, and we are grateful to our partners who have helped bring this development to fruition; New York State Homes and Community Renewal; New York State Department of Environmental Conservation; The Town of Poughkeepsie; and the Dutchess County Planning Department . »

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