The Community Builders and New York State Homes and Community Renewal Joined with Schenectady County Leaders to Break Ground at $20 Million Hillside View Development in Hamilton Hill Neighborhood

The Community Builders (TCB) and New York State Homes and Community Renewal (NYSHCR) today joined with Schenectady County officials to break ground at the $20 million Hillside View development site.

 “We are excited to bring new homes and community space for families and seniors with a range of incomes,” said Susan McCann, regional vice president of development, New York and New Jersey, at The Community Builders, Inc. “We worked very closely with Schenectady leaders and NYS Homes and Community Renewal to make this project possible.”

The $20 million development—a combination of rehabilitation and new construction—consists of 8 buildings, including two historic schools identified by the community as resources worth saving. The new development will bring 58 apartment homes to families and seniors with a range of incomes, a Community Services Facility to the neighborhood as well as hundreds of construction-related jobs.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The transformation of these two former vacant schools will breathe new life into the Hamilton Hill neighborhood. The housing and community resources provided by this development will create 58 new homes, improve the quality of life for local families, and build a foundation for long-term revitalization in Schenectady. We are grateful to Governor Cuomo and our many partners for helping to make this innovative development a reality.” 

“This $20 million renovation and construction project is a major commitment to the future of the Hamilton Hill neighborhood,” said Anthony Jasenski, Chairman of the Schenectady County Legislature. “Combined with other nearby projects including the Joseph Allen Apartments, the renovation of Summit Towers, the new Bornt Library Branch and others, we have almost $50 million being invested in the Hamilton Hill neighborhood.  We thank Governor Cuomo, NYSHCR and The Community Builders for working closely with our economic development team at Metroplex to launch this exciting project.”  

“Safe and affordable housing are bedrocks of strong communities.  This investment will provide quality housing to many residents, and through its many partnerships, The Community Builders will provide public space and access to important resources that will enhance the quality of life in the neighborhood,” said Mayor Gary McCarthy.  “I thank New York State, The Community Builders, and all of the partners that made today’s groundbreaking possible.”

Located in the heart of Hamilton Hill neighborhood, Hillside View will offer a mix of studio, one, two, and three-bedroom apartments.Each unit will feature Energy Starappliances, energy efficient fiberglass windowsand onsite laundry and community space. Two community rooms will house a computer lab with internet accessand a common kitchenette.

There will be onsite parking for the 25 senior apartments, and a combination of both onsite and offsite parking for the 33 family units. There will be recreational space with outside seating, community gardens, playgrounds, and ample back yards for residents and neighbors to gather and play.

Local partner organizations, including: the Albany Barn with the backing of Proctor’s Theatre, The Wright Family Foundation, The Schenectady Foundation and Schenectady County Metroplex Development Authority, the Schenectady Police Department and Capital Roots, will provideprogramming for the community services facility located on the first floor of the historic school at 400 Craig St.

Additionally, the development has obtained service funding for 13 units of supportive housing from the Empire State Supportive Housing Initiative and the Strong Families Fund, a ten-year initiative to stimulate and support innovate strategies to design, deliver, and measure the impact of Resident Service Coordination for families. The initiative is backed by the Kresge Foundation, Robert Wood Johnson Foundation (RWJF), and Corporation for Supportive Housing (CSH), Stewards of Affordable Housing for the Future (SAHF), The Community Development Trust (CDT), Goldman Sachs, and the National Affordable Housing Trust (NAHT.)

“National Affordable Housing Trust and its partners –The Kresge Foundation, the Robert Wood Johnson Foundation, the Corporation for Supportive Housing, Stewards of Affordable Housing for the Future, the Community Development Trust, and Goldman Sachs – are pleased to be a part of The Community Builders’ revitalization and redevelopment of the Hillside View project in Schenectady, NY, said Marcus Vivona, Director of Acquisitions, NAHT.We are excited to continue our long-standing relationship and support of The Community Builders and their non-profit mission to develop, own and manage affordable housing.”

“I applaud Community Builders and New York State Homes and Community Renewal  for preserving and reusing the school buildings connected to Schenectady’s history,” said Rose Harvey, Commissioner of the Office of Parks, Recreation and Historic Preservation. “Investing in historic structures encourages sustainable neighborhoods and preserves the special character of our communities.”

Significant funding for this project was provided by NYSHCR,Federal Home Loan Bank AHP, the City of Schenectady, CPC and M&T Bank.TCB also committed Neighborhood Stabilization Program  II funding to aid in project completion.

About New York State Homes and Community Renewal:
NYS Homes and Community Renewal’s (HCR) housing and community development agencies work to create, preserve and improve affordable homes and vibrant communities, in keeping with Governor Andrew M. Cuomo’s vision of a more inclusive, affordable, sustainable, and resilient New York. In 2016, HCR set a record for the third year in a row, financing the creation or preservation of more than 17,000 affordable homes and apartments, creating nearly 2,000 homeownership opportunities for first-time homebuyers, and was once again the #1 affordable housing bond issuer in the nation with $2.8 billion issued. For more information on HCR agencies, programs and initiatives, please visit: http://www.nyshcr.org/

About The Community Builders, Inc.
The Community Builders, Inc. (TCB) is one of America's leading nonprofit real estate developers and owners. Our mission is to build and sustain strong communities where people of all incomes can achieve their full potential. We realize our mission by developing, financing and operating high-quality housing and implementing neighborhood-based models that drive economic opportunity for our residents. Since 1964, we have constructed or preserved hundreds of affordable and mixed-income housing developments and secured billions of dollars in project financing from public and private sources. Today, we own or manage 11,000 apartments in 14 states. We are headquartered in Boston with regional hubs in Albany, Manhattan, Cincinnati, Chicago and Washington, D.C.

 

 


 

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