Governor Hochul Announces Final Mid-Hudson Momentum Fund Awards, Completing $150 Million Regional Housing and Infrastructure Initiative

$22 Million Will Support Three Final Round II Projects in Peekskill, Newburgh and Haverstraw

$150 Million Has Supported 26 Projects Expected To Create or Unlock More Than 11,000 Homes, Including Nearly 4,000 Affordable Homes

Awards Advance Mixed-Use, Transit-Oriented and Waterfront Development in Pro-Housing Communities

Governor Kathy Hochul today announced the final Mid-Hudson Momentum Fund awards, providing $22 million in additional assistance to three developments — SoLo, Liberty Street Apartments and the Haverstraw Chair Factory — previously selected through Round 2 of the program. The new investments will help advance nearly 830 homes while supporting transit-oriented development, downtown revitalization and improved access to existing infrastructure and waterfront areas. Consistent with the Governor’s Pro-Housing Communities Program, the Fund prioritized municipalities that have expanded their housing supply or demonstrated a commitment to pro-housing principles.

“The Mid-Hudson Momentum Fund has helped communities across the region tackle housing shortages, strengthen critical infrastructure and move ambitious development plans forward,” Governor Hochul said. “With these final awards, we are building on that progress and helping deliver thousands of new homes, including nearly 4,000 affordable homes, in communities that have demonstrated their commitment to growing New York’s housing supply.”

With these awards, the Mid-Hudson Momentum Fund has committed approximately $150 million to 26 projects expected to create or unlock more than 11,000 homes, including nearly 4,000 affordable units. Investments have helped communities address infrastructure barriers, advance large-scale residential development and revitalize downtown and waterfront areas throughout the Mid-Hudson region.

Final Mid-Hudson Momentum Fund Awards

• $3.25 Million for the SoLo Project — City of Peekskill, Westchester County: SoLo will create a mixed-use, transit-oriented and mixed-income community with 231 residential units, including 100 affordable homes, along with four commercial spaces totaling 3,876 square feet. Streetscape and infrastructure upgrades along Louisa Street and South Street will strengthen connections between the waterfront and the rest of the city while providing convenient access to the Peekskill Metro-North station.
• $8.75 Million for One Lafayette — City of Newburgh, Orange County: One Lafayette will create a five-story, approximately 200,000-square-foot development featuring 144 affordable residential units, as well as commercial and retail space. The development will also expand off-street parking, bring new residents and businesses to the neighborhood and contribute to the continued economic and cultural revitalization of the surrounding area.
• $10 Million for the Haverstraw Chair Factory Project — Village of Haverstraw, Rockland County: The Haverstraw Chair Factory project will transform a long-underused former industrial complex along the Hudson River into a mixed-income waterfront community with 450 residential units and approximately 13,000 square feet of retail and community space. The approximately $300 million development will reconnect downtown Haverstraw to the waterfront, expand public access and placemaking opportunities, spur economic activity and provide more than 1,000 homes.