SYRACUSE — Two Syracuse housing projects — in the East Adams neighborhood and at the site of the former Syracuse Developmental Center on the city’s west side — will get built with millions of dollars from New York State. Phases 1 and 2 of the East Adams neighborhood project was awarded $172 million, and the […]
SYRACUSE — Two Syracuse housing projects — in the East Adams neighborhood and at the site of the former Syracuse Developmental Center on the city’s west side — will get built with millions of dollars from New York State.
Phases 1 and 2 of the East Adams neighborhood project was awarded $172 million, and the Jensen Avenue Apartments will get $99 million, the office of Gov. Kathy Hochul announced on Dec. 29.
The awards are part of nearly $2 billion in housing bonds and subsidies for 24 housing developments located in communities across New York state that will create or preserve more than 6,600 “affordable, supportive, sustainable, and modern homes,” per the governor’s announcement.
Financing is allocated through New York State Homes and Community Renewal’s recent bond issuances, which provided $865 million in housing bonds and $990 million in subsidy.
Project details
The first and second phases of a multi-phase redevelopment of the East Adams neighborhood will create 257 apartments. The units in these two phases will be affordable to households earning up to 60 percent of the area median income.
St. Louis, Missouri–based McCormack Baron Salazar will handle the multi-phase redevelopment of the East Adams neighborhood that will create about 1,500 homes, Hochul’s office said.
Crews will build the Jensen Avenue Apartments development on the site of the former Syracuse Developmental Center, a formerly state-owned psychiatric hospital that is now vacant. The first phase of a three-phase development includes affordable and market-rate rental units, as well as homeowner-occupied townhomes. The 261 apartments in this phase will be affordable to households earning up to 80 percent of the area median income.
Albanese Development Corp. of Garden City in Nassau County is the project developer.
All awarded projects will “achieve high levels of sustainability and carbon reduction, complementing New York’s mission to address climate change by decreasing emissions by 85 percent by 2050 across all sectors,” the governor’s office contended.
When coupled with additional private funding and resources, the projects receiving state funding are expected to generate $3.5 billion in overall investment, it added.
