HYDE PARK – Dozens of elected officials from the Hudson Valley, along with project developers, gathered at the Wallace Center on the grounds of the FDR Presidential Library as Empire State Development CEO and Commissioner Hope Knight announced $67 million in funding for projects in the Mid-Hudson Region. The funding awards under the Mid-Hudson Momentum Fund include projects in Kingston, Peekskill, Poughkeepsie, Red Hook, Newburgh, and others.
The Mid-Hudson Momentum Fund, a $150 million initiative was announced last year to increase the housing supply in the Mid-Hudson region.
The winning projects include mixed-use developments, transit-oriented developments along major commuting hubs, and critical infrastructure improvements that will allow for additional housing in the future. Together, these projects will receive approximately $67 million in state funding to unlock more than $576 million in private investment and more than 2,400 housing units, including more than 1,300 affordable units, across the Mid-Hudson region.
“Communities all over the Mid-Hudson region are stepping up in extraordinary ways to address the housing crisis, and with these awards, New York is making good on our commitment to supporting them,” Governor Hochul said in a prepared statement. Hochul was scheduled to make the announcement in Hyde Park but was delayed in Albany, according to an Executive Office staffer. “As the first state program to reward our Pro-Housing Communities, the Mid-Hudson Momentum Fund is not just helping them build more housing – it’s helping them chart a path toward a more affordable New York. My administration remains laser-focused on building the homes we need to bring down housing costs, and I am ready to work with any community that wants to join us.”
Village of Red Hook Mayor Karen Smythe called the funds vital to her community. “This money is going for infrastructure which is the foundation of how you can have more housing in a smaller space.” A portion of the money going to Red Hook is going toward extending water lines, building roads, and other infrastructure upgrades.
Poughkeepsie is receiving two awards for Main Street projects that are in the planning stages. Five million dollars is earmarked for 316 Main Street to construct a six-story mixed-use structure that will include 80 units of affordable housing. The Newberry project is receiving $2 million to develop 28 housing units with commercial space at 278-282 Main Street. Mayor Yvonne Flowers said the funding will provide a major boost in development of the housing market in the city. “These projects will increase the affordable housing opportunities and will also help provide more employment opportunities in the City of Poughkeepsie.”
Kingston was also one of the beneficiaries, receiving $10 million for the Golden Hill project and $4,75 million for the Barrel Factory project. Mayor Steve Noble was excited about the funding, telling Mid Hudson News, “To be able to build a couple hundred units of housing in Kingston is so needed and the Mid-Hudson Momentum Fund is the perfect match for our developers to help get the projects over the finish line to get these projects built.” Both projects have been pre-approved by the city.
Projects are listed below:
- $10 million for the Golden Hill project to transform the former Ulster County jail into a new mixed-income and mixed-use community with 164 units of affordable housing in the City of Kingston
- $10 million for essential infrastructure improvements required to accommodate up to 1,080 new homes in the City of Peekskill
- $10 million for the construction and operation of a new Indian Brook Water Treatment Plant to ensure high-quality drinking water for approximately 300 homes in the Village of Ossining
- $8.7 million for the 115 South Macquesten transit-oriented development project to construct two residential towers on a shared mixed-use base with approximately 315 units of housing in the City of Mount Vernon
- $5 million for the 316 Main Street project to construct a six-story, mixed-income building with 80 units of housing and more than 21,000 square-feet of commercial space in the City of Poughkeepsie
- $4.75 million for the Barrel Factory Apartments project to construct a 100-unit mixed-use, mixed-income development in the City of Kingston
- $3.465 million for the Red Hook Gateway project to extend water, roads, utilities and public infrastructure for up to 40 potential new units of housing in the Village of Red Hook
- $3.05 million for the 104 Washington Street project to construct a 14-unit, mixed-use building with an ice cream manufacturing facility, street level suites for retail and food and beverage, and co-working office space in the City of Newburgh
- $2.6 million for the 191 Washington Street project to repurpose a vacant building into 70 units of housing, commercial, retail, office, and light manufacturing space in the City of Newburgh
- $2.5 million for the Two Cross Street project to construct a fully affordable, 18-unit mixed-use building in the City of Beacon
- $2.5 million for The Green transit-oriented development project to construct an innovative, mixed-use affordable housing development with 118 apartments in the City of Newburgh
- $2.5 million for the 63 Maple Avenue project to construct a five-story residential building with approximately 78 homes in the Village of Haverstraw
- $2 million for the Newberry project to construct a 28-unit, mixed-use development on the site of a long-vacant, blighted building in the City of Poughkeepsie
These awards also mark the first to prioritize localities committed to housing growth under Governor Hochul’s “Pro-Housing Communities” program, launched last year to increase New York’s housing supply. Under the program, localities that have successfully unlocked housing growth or committed to taking important steps to support housing, such as by streamlining permitting and adopting pro-housing policies, and that have applied and submitted critical housing and zoning data to the state, will receive a certification from New York State Homes and Community Renewal that will give them priority consideration among municipal applicants for up to $650 million in state discretionary funding, including the Mid-Hudson Momentum Fund.
