KINGSTON – RUPCO has received a $10.5 million low-income housing tax credit award from New York State Homes and Community Renewal to develop 56 affordable apartments in the Village of Tannersville, with a workforce and senior preference.
Located at the site of the former Cold Spring Hotel on Spruce Street, Cold Spring Apartments will be an intergenerational and energy-efficient campus that features three buildings and a community space for residents to gather.
The new development includes two double-story multi-family buildings that will house 40 workforce apartments and 15 senior apartments for those 55 and over. The third building will be transformed into a community center with an onsite superintendent apartment on the second floor.
RUPCO will employ passive housing standards to achieve a LEED for Homes Silver status from the US Green Building Council and a PHIUS certification.
Building to those standards with the use of a geothermal heat pump systems for heating, cooling, and domestic hot water production will reduce the carbon footprint and will provide savings to future residents, developers said.
