Governor Kathy Hochul today announced renovations are complete on Parkedge Townhomes in Utica, a 184-unit Mitchell Lama development for families. Each unit at the 50-year-old complex received major upgrades and the project also funded a new community building, two playground areas, and sustainable infrastructure improvements.
“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.”
In the last five years, HCR has created or preserved over 1,000 affordable homes in Utica. Parkedge Townhomes continues this effort and complements Governor Hochul's $25 billion comprehensive Housing Plan that will create or preserve 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.
Originally constructed in 1973, the development consists of 27 two- and three-story townhouses with a mix of two-, three- and four-bedroom apartments. Apartments are affordable to households earning at or below 60 percent of the Area Median Income.
All units received new kitchens, bathrooms, and flooring. The work also included construction of a community building with a computer center, installation of two new playgrounds, replacement of all sidewalks and parking areas, and improvements to the drainage system.
Each townhome was upgraded to meet criteria for certification from Enterprise Green Communities. To meet these requirements, the development’s hot water system was upgraded, insulation was added, and Energy Star appliances and LED lighting were installed.
The developer is Liberty Affordable Housing.
State financing for the $47 million rehabilitation included $8.3 million in permanent tax-exempt bonds, $9 million in federal Low-Income Housing Tax Credits, and $14 million in subsidy from New York State Homes and Community Renewal.
About the Mitchell-Lama Program
The Mitchell-Lama Program provides housing across New York State that is affordable to the middle class. It was created by the Limited Profit Housing Act in 1955, which was championed by Manhattan State Senator MacNeil Mitchell and former Brooklyn Assemblyman Alfred Lama. New York State Homes and Community Renewal plays an oversight role for existing Mitchell-Lama developments (privately owned and managed) and works with owners as they near the end of their 20-year affordability requirements to provide low-cost financing tools that help maintain the developments while also extending their affordability.
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