New York Governor Hochul Announces Completion of 184-Unit Affordable Housing Development

The transformation of Parkedge Townhomes breathes new life into a 50-year-old Mitchell-Lama development, offering a fresh start for families and contributing to the vibrancy of Utica

Photo byMihai MoisaonUnsplash

Governor Kathy Hochul recently unveiled the completion of a significant renovation project at Parkedge Townhomes in Utica. The once 50-year-old Mitchell-Lama development has been given a new lease on life, with all 184 units receiving major upgrades that will benefit families living within its walls.

This impressive project not only rejuvenated each unit but also funded the construction of a new community building, two playground areas, and sustainable infrastructure improvements. It signifies a commitment to preserving affordable housing and investing in the future of Utica.

"By rehabilitating Parkedge Townhomes, we are continuing our investment in Utica’s future and furthering the State’s efforts to protect Mitchell-Lama housing which has been a valuable source of affordable, secure housing for families for generations," Governor Hochul said. "Preserving New York’s existing housing stock is a vital component of my administration's commitment to ensuring every community can provide the types of homes that will help more our communities thrive."

The Parkedge Townhomes project is part of a broader effort by HCR, which has created or preserved over 1,000 affordable homes in Utica in the last five years. It aligns seamlessly with Governor Hochul's ambitious $25 billion comprehensive Housing Plan, which aims to create or preserve 100,000 affordable homes across New York. The plan also includes provisions for 10,000 homes with support services for vulnerable populations and the electrification of an additional 50,000 homes.

Originally built in 1973, Parkedge Townhomes consists of 27 two- and three-story townhouses, offering a mix of two-, three- and four-bedroom apartments. These homes are designed to be affordable for households earning at or below 60 percent of the Area Median Income.

The renovation project was extensive and transformative. Each unit received new kitchens, bathrooms, and flooring. The community building now boasts a computer center, and residents can enjoy two new playgrounds. Improvements didn't stop at living spaces; all sidewalks and parking areas were replaced, and the drainage system was upgraded.

In a nod to sustainability, each townhome was upgraded to meet the criteria for certification from Enterprise Green Communities. To achieve this, the development’s hot water system was upgraded, insulation was added, and Energy Star appliances and LED lighting were installed.

The developer responsible for breathing new life into Parkedge Townhomes is Liberty Affordable Housing. The rehabilitation, which cost $47 million in total, was financed through $8.3 million in permanent tax-exempt bonds, $9 million in federal Low-Income Housing Tax Credits, and a $14 million subsidy from New York State Homes and Community Renewal.

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