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Ezra Prentice Groundbreaking from ALBHousingAuthority on Vimeo.
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2 Comments
A waste of money! For $26,000,000.00 Albany could have built 176 individual houses, not another hiddious looking N.Y.C. style “projects”. To potential money spending visitors, those types of housing units are ugly and send the very negative message of “shop somwhere else”, because it’s just another capital region SLUM. For $26,000,000.00 Albany could have built 176 individual houses and gave them away to the poor for free. The cost of each one of those houses would have been $147,727.27 each! Jeese, I’ld take one for half that cost and save you $13,000,000.00. How much tax money has to be wasted on Albany’s south end before hard working tax payers, from other parts of the city can get the freakin’ roads re-paved?!
Ezra Prentice Homes has provided affordable housing for thousands of families over the past 40 years, not just to the 176 which currently reside there. Similarly, the investment made to preserve those units will provide affordable housing for thousands more families over the next 40 years. While home ownership is important and the Authority supports many homeowner initiatives, there are 4,500 applicants currently on the Authority’s waiting list that desperately need safe affordable housing.
Most of the financing comes as a corporate investment in lieu of federal taxes – investments that otherwise would be made in other cities and other states. The state and federal grants that are being used were obtained through a competitive process and also would have gone to improve housing in other communities, if not used here in Albany. These funds are also being used to provide employment opportunities for local community residents hire.