Town Breaks Ground on Affordable Housing Development

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Posted: Monday, December 17, 2018 7:06 pm

ALBANY, N.Y. -- Governor Andrew Cuomo announced the start of construction on a new $17.3 million housing development that includes 71 affordable apartments in the town of Lansing, Tompkins County. Milton Meadows Apartments, developed by Rochester's Cornerstone Group, is the first phase of construction at Lansing's new Town Center and will be located near the Tompkins County Area Transit bus stop, as well as child care facilities, high-performing schools and businesses.

"Milton Meadows Apartments will provide safe, affordable housing options for families and individuals who need it most, bringing new life to the Lansing community," said Governor Cuomo. "This investment will help transform the neighborhood, create new job opportunities and build on our ongoing initiatives to keep the Southern Tier soaring."

"The Milton Meadows Apartments project in Lansing will add significantly more affordable housing opportunities for the people of Tompkins County," said Lieutenant Governor Kathy Hochul. "This project will ensure increased access to high quality housing options and provide support services for residents. The meaningful investment advances the revitalization of the community and will continue to grow the economy of the entire Southern Tier region."

Governor Cuomo's commitment to strengthening communities and growing the Southern Tier economy is reflected in Southern Tier Soaring, a $500 million state investment through the Upstate Revitalization Initiative that builds on the more than $4.6 billion the state has injected into the region since 2012. The state's investment in Milton Meadows Apartments complements Southern Tier Soaring by increasing access to high-quality affordable housing that provides supportive services to help residents live independently in their community.

Milton Meadows Apartments complex will consist of 10 buildings, including 72 apartments with one to three bedrooms, on 13.5 acres of the 156-acre Town Center tract on Auburn Road. It is near the intersection of Route 34/34B, which is directly across from the Lansing Town Hall, library, community center and ball fields. There will be nine two-story apartment buildings, with a tenth building to serve as a community space with exercise, laundry and computer rooms. All buildings will have Energy Star rated central air conditioning and heating systems, lighting and appliances. The project will meet the New York State Energy, Research and Development Authority's Low-Rise Construction and LEED Silver standards. Construction is projected to be completed in a year.

Gross rents will range from $680 to $1,400 a month for households with incomes below 80 percent of the area median income. Five apartments will be set aside for veterans with physical disabilities. Milton Meadows Apartments will be located near the Tompkins County Area Transit bus stop at Town Hall and will be close to child care facilities and high-performing schools, as well as a wide range of employment opportunities at regional businesses.

The project is supported by a Homes and Community Renewal award of federal low-income housing tax credits that generated about $9.9 million, and a $4.05 million loan from the Housing Trust Fund. The Community Preservation Corporation is providing a $2 million permanent loan through its funding agreement with the New York State Common Retirement Fund. Additionally, Tompkins County Community Housing Development Fund is providing $256,875; NYSERDA is providing $63,200; and Column Financial is providing a loan of $850,000.

Since 2011, HCR has built or preserved more than 1,900 units of affordable housing in the Southern Tier with more than $158 million in HCR resources which have leveraged more than $234 million in private investment.

SOURCE: Office of Governor Andrew Cuomo

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