Regions Northeast | New York
State Announces $25M in Funds for Building, Refurbishing Affordable Housing
May 8, 2008

New York State's push to increase its pool of affordable housing marches on as Gov. David A. Paterson announces that $25.5 million in grants and financing will be doled out for the renovation of 396 multifamily units in communities across New York City and in the western portion of the state.  Among the properties that will benefit is the 125-unit Caroline Apartments in Manhattan's Inwood neighborhood, which will be submitted to an $18 million upgrade. Approximately $2.6 million will be contributed for the development of 87 co-op units at a mixed-use project in East Harlem, and another $1.6 million will be used to construct a 54-unit condominium project in the Bronx. Residential properties in Brooklyn and Buffalo, as well as Cattaraugus, Wyoming and southern Erie counties will also receive funds for improvements.

 
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