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Home  »  Business News  »  State Starts Construction Of $21 Million Affordable Housing Project In Ballston
Business News

State Starts Construction Of $21 Million Affordable Housing Project In Ballston

Posted onDecember 13, 2021

Construction has started on Dominic Hollow Apartments, a $21 million affordable and supporting housing development in the town of Ballston that will create 60 homes, including 30 reserved for adults in need of supportive services.

Dominic Hollow Apartments will be affordable to households earning at or below 60 percent of the Area Median Income. Thirty apartments will be reserved for adults who will receive on-site services provided by RISE Housing and Support Services. RISE is also the project’s developer with CSD Housing in a consulting role.  

“Saratoga County is one of the fastest-growing counties in New York, and the Dominic Hollow Apartments will help fulfill the rising need for affordable housing,” Gov. Kathy Hochul said in announcing the start of the work. “As we continue to emerge from the pandemic, my administration will continue to prioritize investments that allow New Yorkers to find safe, secure, and sustainable housing so they can live healthy and successful lives in the communities they love.”

Services and rental subsidies for 18 supportive units will be funded by the Empire State Supportive Housing Initiative and 12 supportive units will be funded by the state Office of Mental Health. OMH is providing $416,000 annually in operating expenses for the 18 ESSHI units, as well as $477,000 annually for the 12 supportive units.

Officials said Dominic Hollow Apartments is designed to meet the energy efficiency requirements of the New York State Energy Research and Development Authority’s Low-Rise New Construction program and EPA’s ENERGY STAR Certified Homes Program Version 3.1. Sustainable features will include Energy Star or equivalent heating and cooling equipment, appliances, and light fixtures; water-conserving plumbing fixtures; and low- or no-VOC paints, primers, adhesives, and sealants. 

Additional residential amenities will include a community room with kitchen, laundry facilities, a mail/package room, and a gym area. Outdoor amenities will include a gazebo, patio, and playground.   

State financing for Dominic Hollow Apartments includes Federal Low-Income Housing Tax Credits that will generate $11.5 million in equity and $4.6 million in subsidy from New York State Homes and Community Renewal. OMH is providing debt service on Community Preservation Corp.’s bank loan of $3.9 million and a $106,500 Program Development Grant. NYSERDA will provide $56,000 in support. JP Morgan Chase provided $9.6 million in construction financing and the Richman Group is the tax credit syndicator.  

Dominic Hollow Apartments is part of the state’s $20 billion, five-year plan to make housing accessible and to combat homelessness by building or preserving more than 100,000 affordable homes and 6,000 homes with supportive services. Since 2011, New York State Homes and Community Renewal has invested more than $490 million in the Capital Region, which has created or preserved over 5,500 affordable homes.   

HCR Commissioner RuthAnne Visnauskas said, “Our $21 million investment in the Dominic Hollow Apartments is an important model for the kind of high-quality affordable housing developments that can make New York an even better and more equitable place to live. With sustainable features and free broadband access, we can help lower costs for residents and close the digital divide that too often impacts lower-income New Yorkers.”  

OMH Commissioner Dr. Ann Sullivan said, Dominic Hollow Apartments will provide “beautiful new homes with supportive services that will allow individuals living with mental illness to live full, productive and fulfilling lives. In supportive housing individuals live safely in their community, close to family and friends, and can actively contribute to their community. OMH is proud to partner with our colleagues at HCR, NYSERDA, and RISE Housing and Support Services to provide safe, stable housing to our fellow New Yorkers.”

Doreen M. Harris, President and CEO at NYSERDA, said, “Dominic Hollow Apartments will provide Saratoga County low-income residents with healthy, supportive and affordable housing that incorporates energy efficient appliances and advanced building materials. Projects like this are showcasing that new construction can be clean and green in support of our efforts to fight climate change, while at the same time cost-effective to ensure access for all New Yorkers and we are excited to see this break ground.” 

CSD Housing will work with RISE to not only complete the Dominic Hollow project, but also on future housing development initiatives. 

Town of Ballston Supervisor Eric Connelly said, “I am looking forward to seeing all of the lives positively impacted by this unique and much needed project.” 

Previous Article Four Projects In Saratoga County Get Funds From Regional Economic Development Unit
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