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The owner of Putnam Resources LLC is continuing to accept proposals from private investors to move the project along.
The group has partnered with Habitat for Humanity, Rebuilding Together Saratoga County, and the city of Saratoga Springs to take advantage of state and private funding sources and other initiatives geared toward increasing the amount of workforce and affordable housing available in the state.
The project—Putnam Commons, at 53 Putnam St., Saratoga Springs—is a private-public endeavor that will transform a cleaned-up brownfield in the heart of downtown Saratoga Springs into residential condominiums offering homeownership opportunities for members of the local workforce. The property is across the street from the Saratoga Springs Public Library.
The developers have guaranteed that at a minimum 30 percent of the units in the building will be offered at a price affordable for buyers earning 80 percent of the average median income of the area. Driving the project is a collaboration of entities with common goals of ameliorating the prevailing shortage of workforce housing in the Spa City.




