The Glens Falls Portfolio includes 4 apartment communities being developed under a joint venture partnership with the City of Glens Falls Housing Authority and Duvernay + Brooks. . The four communities, Cronin Tower, Stichman Tower, Earl Tower and 25 LaRose, are located in the City of Glens Falls and the Village of Hudson Falls, New York. The 3 Tower buildings contain 256 senior apartment homes and will include 259 senior apartment homes upon completion of the renovation efforts. 25 LaRose was a 50 unit family community that will be demolished and improved with 54 newly constructed apartment homes and Clubhouse. All 4 communities will have community space, outdoor patios and amenities for their respective residents.
These communities will serve households with income levels ranging from 40% to 70% of the Area Median Income. Financing was provided by NYS Housing Finance Agency through tax exempt bonds and Low-Income Housing Tax Credits, and HUD through the RAD program and Section 18 disposition funding. All the apartment homes will be designed under NYSERDA guidelines to promote energy efficiency. Construction commenced in January 2021 with completion in 2023.