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Affordable Housing Project in Gates to Receive $3 Million in State Funds

By Staff


CRERANDDevelopGov. Andrew Cuomo has announced New York State Homes and Community Renewal will award $11 million dollars in grants to three affordable housing units, including one in Monroe County.

The Crerand Commons Phase II project in Gates will receive $3 million of the state funds.

In addition, affordable housing developments in both Tompkins and Westchester Counties will also receive $5 million and $3 million, respectively.

The Gates project involves the construction of six townhouse apartment buildings, which will include 33 rental units that will be available for families earning between 30 percent and 60 percent of the area’s median income.

HCR funding for the project will be provided through $2.4 million from the NYS Low-Income Housing Trust Fund, and $685,012 in Federal Low-Income Housing Tax Credits, which will leverage loans from Monroe County and the developer, according to the state.

Spencerport School District will serve the location’s residents.

“It is truly great to see this project being supported by HCR’s Low Income Housing Trust Fund,” Senator Joseph Robach, R-Greece, stated. “Crerand Commons Phase II will provide much needed and affordable rental units in the town of Gates, allowing families the opportunity to live in new, state-of-the-art townhouse style apartments. Pathstone Development Corporation has always provided quality housing for Rochester-area residents, I am certain that Crerand Commons Phase II will be no different.”

THe HCR funds are part of the $200 million Unified Funding Round the governor announced in July.