Investors - JANUARY 23, 2023

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N.Y. governor announces more than $390m in financing to build affordable homes

by Released

New York Gov. Kathy Hochul announced that more than $390 million has been awarded through bonds and subsidies to create or preserve more than 1,600 affordable, sustainable and supportive homes across the state.

When coupled with additional private funding and resources, the 10 projects receiving funding are expected to create more than $600 million in overall investment that will assist local economic-development efforts and advance New York’s commitment to expanding the supply of safe, secure, and healthy housing opportunities for individuals and families across the state.

“As our state stares down a severe housing crisis, this investment to create and preserve more than 1,600 new homes marks an important step toward addressing New York’s housing shortage,” Hochul said. “Building, preserving, and stabilizing our housing supply is a top priority for my administration, and I remain committed to bringing forth solutions — like the New York Housing Compac

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