Governor Kathy Hochul today announced the completion of Silver Gardens, a 57-unit affordable senior housing development in the Hamlet of Highland, Town of Lloyd, Ulster County. The $22 million project includes 29 supportive units and is located near parks, public transportation, retail and healthcare — providing a place for seniors to live affordably and close to the essentials they need to live independently. Under Governor Hochul’s leadership, New York State Homes and Community Renewal (HCR) has created or preserved more than 9,200 affordable homes in the Hudson Valley, including 1,200 in Ulster County. Silver Gardens continues this effort and is part of Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.
“My administration is committed to creating more affordable, modern, livable communities for all New Yorkers,” Governor Hochul said. “Not only is Silver Gardens providing affordable homes, it’s also offering a supportive community where older residents have access to the services and amenities they need to live full, independent lives. Our thanks to RUPCO and all of our partners for bringing this important project to fruition.”
All apartments at Silver Gardens are reserved for residents aged 62 and older and are affordable to households earning up to 60 percent of the Area Median Income. There are 29 units reserved for eligible tenants in need of on-site support services, including those struggling with homelessness. Support services include self-advocacy support, socialization activities, educational training and transportation coordination with public transit or medical transportation providers.
Silver Gardens’ central location gives residents convenient access to everyday essentials including transportation, recreation, work opportunities and health services. It is adjacent to Franny Reese State Park and close to Highland’s downtown area, bus service, a supermarket and a shopping center.
The all-electric building features a geothermal heating and cooling system, as well as ENERGY STAR appliances. The project received 2020 Enterprise Green Communities Plus certification. The development includes fully accessible and adaptable apartments. There are six units to accommodate residents with mobility impairments and three units to accommodate residents with sensory disabilities.
The developer is RUPCO with Girondini LLC as co-developer. RUPCO is also providing the on-site support services.
Silver Gardens is supported by HCR’s Federal Low-Income Housing Tax Credit Program, which generated $10.5 million in equity, $5 million from its Senior Housing Program, and $1.7 million from its Federal Housing Trust Fund. The development also benefits from more than $425,000 in Clean Energy Initiative funding, a partnership between HCR and the New York State Energy Research and Development Authority (NYSERDA). The Community Preservation Corporation provided $1.4 million in permanent financing, the Federal Home Loan Bank of New York’s Affordable Housing Program provided $1.4 million, and Ulster County provided $600,000 in American Rescue Plan Act funds. Operating expenses for the supportive apartments will be subsidized through an Empire State Supportive Housing Initiative award administered by the New York State Department of Health.
Governor Hochul’s Housing Agenda
Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and livable for all New Yorkers. Since FY23, the Governor has worked to increase housing supply to make housing more affordable by launching a $25 billion five-year comprehensive Housing Plan, enacted the most significant housing deal in decades and implemented new protections for renters and homeowners. Under Governor Hochul’s leadership, HCR has created new programs that jumpstart development of affordable and mixed-income homes — for both renters and homebuyers. These include the Pro-Housing Community Program, which allows certified localities exclusive access to up to $750 million in discretionary State funding. More than 410 communities throughout the state have been certified Pro-Housing, including the Town of Lloyd.
As part of Governor Hochul’s 2026 State of the State, the Governor proposed her “Let Them Build” agenda, a series of landmark reforms to speed up housing and infrastructure development and lower costs. This initiative will spur a series of common-sense reforms to New York’s State Environmental Quality Review Act (SEQRA) and executive actions to expedite critical categories of projects that have been consistently found to not have significant environmental impacts, but for too long have been caught up in red tape and subject to lengthy delays.
The FY27 Executive Budget completes the Governor’s current five-year Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations plus the electrification of an additional 50,000 homes. More than 81,000 affordable homes have been created or preserved to date. The Executive Budget also invests $250 million in capital funding to accelerate the construction of thousands of new affordable homes.
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