A townhouse development creating 33 rental units in Gates for local low-income local families is getting a boost from New York in the form of more than $3 million in grant funding.
The Crerand Commons project, which involves the construction of six townhouse apartment buildings for families earning 30 percent to 60 percent of the area median income, received $2.4 million from the NYS Low-Income Housing Trust Fund and $685,012 in Federal Low-Income Housing Tax Credits.
The $9.6 million Early Award Housing Opportunity project is designed to comply with energy efficiency requirements of the New York State Energy Research and Development Authority
The New York State Energy Research and Development Authority Low-rise Residential New Construction Program, as well as the 2015 Enterprise Green Communities building program requirements, state officials noted.
Gov. Andrew Cuomo announced the grant as part of $11.3 million awarded statewide through the state Homes and Community Renewal program.
All of the projects were funded through the Early Awards program, part of HCR’s Unified Funding Application, state officials noted.
To receive funding, projects must demonstrate that they could proceed with construction within 120 calendar days of the award. Applications were submitted six weeks ago, state officials noted.