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Monthly Archives: July 2010
Ground Broken for Second Phase of $22 Million South End Revitalization.
State and city officials joined Albany Housing Authority and Omni Housing Development LLC today to break ground on the second phase of the South End Neighborhood housing revitalization project. The Honorable Gerald D. Jennings, Mayor of Albany; New York State Division of Housing and Community Renewal Regional Director Lynn Kopka; Albany Housing Authority Executive Director Steven T. Longo and Omni Housing Development LLC Chief Executive Officer & Managing Member I. David Swawite ceremoniously kicked-off the construction of one of the new apartment buildings on Morton Avenue.
Albany Mayor Gerald D. Jennings said: “Congratulations to my team and thank you to everyone involved with this project – especially the State Division of Housing and Community Renewal for their continued support of our efforts throughout the city. This is a win for not only for our Capital City, but also the residents of the South End, who will be uplifted by the promise of greater employment and housing opportunities this project is sure to bring.”
South End Revitalization Phase II consists of 43 units of new and rehabilitated affordable housing on Morton Avenue and nearby streets in Albany’s historic South End neighborhood. To meet the needs of small families, four apartment buildings in a row house style with two-bedroom units are being constructed along Morton Avenue. In addition, four of the vacant historic row houses on Morton Avenue between Elizabeth and Eagle Streets are being rehabilitated to meet historic preservation guidelines. Nine, 3-bedroom single-family homes are being built on Catherine, Broad and Clinton Streets and will serve larger families.
The second phase of the South End Revitalization is the continuation of the housing revitalization project that began in 2008 with the rehabilitation of Eagle Court Apartments on Morton Avenue and the construction of Jared Holt Mews townhomes on Broad and Clinton Streets. Residents have occupied these properties, both managed by Albany Housing Authority, since early 2009. Albany Housing Authority will also lease and manage the Phase II units.
Steven T. Longo, Executive Director Albany Housing Authority said, “The start of this important project marks a hard fought victory for the South End. In these tough economic times, there are many communities competing for scarce affordable housing dollars. Residents, investors, and the State of New York chose to support this project because of the clear vision and unity of purpose set forth in the Capital South Plan and the proven track record under Mayor Jennings for getting the job done.”
The five 1-bedroom, twenty nine 2-bedroom and nine 3-bedroom apartments and homes are being constructed to comply with New York State Division of Housing and Community Renewal’s Green Building Initiative and will receive NYSERDA’s Energy Star Labeled Home designation for their energy efficient design, building materials, heating and ventilation systems, lighting and appliances.
Monthly rents for the units will range from $220 to $843, according to income. Individuals and families with incomes at or below 60% of the area median income are qualified to rent the units in Phase II. Applications for the units are accepted at the Albany Housing Authority offices.
Financing for the $10.1 million revitalization project is provided to the Albany Housing Authority by the New York State Division of Housing and Community Renewal’s Housing Trust Fund Corporation and Low-Income Housing Tax Credit Program. PNC Bank, NA provided the construction and bridge loans and PNC Real Estate invested the tax credit equity.
Brian Lawlor, Commissioner of the New York State Division of Housing and Community Renewal and CEO and President of “nyhomes” said, “By combining historic renovations with new construction, Albany’s $22 million South End Revitalization Plan is bringing positive change to this neighborhood and the entire City of Albany. Last year we celebrated the completion of the 52-unit Phase I, which included the rehabilitation of Eagle Court Apartments on Morton Avenue and the construction of Jared Holt Mews Townhouses. Together, the first two phases will bring 95 new and rehabilitated affordable homes to the South End and stimulate additional neighborhood revitalization and economic activity. It takes a steadfast commitment and a strong partnership to make projects of this magnitude come together, particularly in these difficult economic times. I want to congratulate Mayor Jennings, Omni Development, the Albany Housing Authority, and all of our partners for their hard work and vision.”
Experienced affordable housing developer Omni Housing Development LLC of Albany is assisting Albany Housing Authority with the development of South End Revitalization Phase II. I. David Swawite, Chief Executive Office and Managing Member of Omni Housing Development LLC, said, “Since 1973 Omni has been committed to the revitalization of downtown Albany by restoring important historic structures for modern day use; and partnering with dedicated stakeholders to redevelop historic areas of downtown into safe affordable, energy-efficient homes that residents and the entire city can be proud of
Construction on South End Revitalization Phase II will continue through early 2011. All 43 units will be completed and occupied by summer 2011.
For the complete press release click here.
Stakeholders Breaking Ground. L to R Willie White, Morton Avenue Resident; Steven T. Longo, Executive Director Albany Housing Authority; Lester Freeman, Councilman Second Ward Albany Common Council; Lynn Kopka, Assistant Commissioner Capital District Regional Office, New York State Division of Housing & Community Renewal; Lucille M. McKnight, Albany County Legislator, 2nd Legislative District; Ron Canestrari, New York State Assembly Majority Leader; Neil D. Breslin, New York State Senator, 46th Senate District; Gerald D. Jennings, Mayor, City of Albany; Michael G. Breslin, Albany County Executive; Carolyn McLaughlin, President, Albany Common Council
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