SCHENECTADY — Exciting news for the Hamilton Hill neighborhood as the city moves forward with plans to establish a 14-unit affordable housing development. The sale of four vacant Germania Avenue buildings from the city to Better Community Neighborhoods, Inc. (BCNI) is expected to take place on Monday, marking a significant step in the project.
City Council Approval
During an executive session at the end of the Schenectady City Council’s City Development & Planning Committee meeting, the committee approved the sale of four Germania Avenue properties to BCNI for an undisclosed sum. The full council vote is set for Monday to confirm the sales, showing the city’s commitment to the development of affordable housing in the area.
Funding and Development
The council awarded $500,000 in American Rescue Plan Act (ARPA) funds to BCNI in September 2022 to rehabilitate distressed properties in the city and to convert them into affordable housing. The development is estimated to cost approximately $5.7 million, with BCNI seeking additional funding from the State Housing Trust Fund to support the project.
Community Impact
If the city council approves the sale of the four vacant Germania Avenue properties to BCNI, the group will have ownership of all seven properties that will comprise the 14-unit affordable housing development. This initiative is a crucial step in meeting the affordable housing needs of the community and supporting the ongoing revitalization of Hamilton Hill.
Future Plans
BCNI Executive Director Shane Bargy expressed confidence in completing the project and emphasized the importance of securing state funding to move the development forward. The organization is committed to providing adequate shelter for the community and aims to begin construction as soon as possible, pending state funding approval.
Continued Support
The project has received support from city leaders, with Mayor Gary McCarthy stating, “This keeps the progress going on Hamilton Hill as we continue to make meaningful investments in our neighborhoods.” City Council President Marion Porterfield also emphasized the positive impact the project will have on families and the entire community.
Metroplex approved $550,000 in funding in October to remediate and demolish seven vacant buildings in the Hamilton Hill neighborhood, further demonstrating the commitment to affordable housing initiatives in the area.
Agree
Great to see the city supporting affordable housing initiatives! State funding would definitely help make a real difference in Hamilton Hill.
Great news! State funding will make a significant impact in improving affordable housing options in Hamilton Hill.
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