A joint venture partnership with the City of Glens Falls Housing Authority (GFHA) that includes all 4 properties owned by the GFHA. Located in the City of Glens Falls and the Village of Hudson Falls, New York the buildings have 306 units that will result in 313 family and senior apartment homes. Larose Gardens will be demolished and replaced with 54 modern family apartment homes, while Cronin, Earl and Stichman Towers will be renovated providing 259 senior apartment homes, all featuring on site Community Rooms and outdoor patios for their respective residents.
The development 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. In partnership with the Glens Falls Housing Authority and Duvernay + Brooks, construction commenced in January 2021 with completion in 2023.