Governor Hochul and New York State Homes and Community Renewal ...

Governor Kathy Hochul and New York State Homes and Community Renewal today announced completion of the rehabilitation of two outdated Ithaca Housing Authority properties and the demolition and new construction of a third complex to create 118 modern, all-electric homes in Ithaca's Northside Neighborhood. The $75 million project preserves an important piece of the city's public housing stock and adds additional units to address the need for more affordable housing options. In the past five years, New York State Homes and Community Renewal has created or preserved more than 1,000 affordable homes in Tompkins County. Northside Apartments, Overlook Terrace and Southview Gardens continue this effort and complement Governor Hochul's $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.

"The completion of extensive rehabilitation work within the Ithaca Housing Authority's portfolio marks the beginning of a new chapter for 118 households who will benefit from a new, state-of-the-art, all-electric home in a vibrant community," Governor Hochul said. "This builds on our continued commitment to work with our Pro-Housing communities to tackle the affordability crisis by increasing the supply of quality, affordable homes for New Yorkers across the state."

Developed by 3d Development Group and the Ithaca Housing Authority, Overlook Terrace has five residential buildings with ten apartments; Southview Gardens has four residential buildings with 26 apartments, a community building, and a building for laundry and mechanical equipment; and Northside Apartments has 17 residential buildings with 82 apartments, 12 more than the original development, and a community building.

The rehabilitation work at Overlook Terrace and Southview Gardens included mechanical and electrical upgrades, upgraded laundry facilities, the replacement of windows and roofs, new doors and flooring, and updated bathrooms, kitchens, and appliances. All apartments are available for households earning up to 60% of the Area Median Income.

The three highly-energy efficient, all-electric developments further the goals of New York's nation-leading Climate Leadership and Community Protection Act, which aims to curb building emissions and reduce greenhouse gas emissions 85 percent by 2050. Additional energy efficiency measures include heat-reflective roofing systems with tapered insulation, ENERGY STAR rated appliances, energy-efficient lighting and low-flow plumbing fixtures for a projected 15 percent in total energy savings.

State financing includes $10.6 million in permanent tax-exempt bonds, Federal Low Income Housing Tax Credits that will generate $29.7 million in equity, and $18.8 million in subsidy from New York State Homes and Community Renewal. The development was awarded $1.5 million through HCR's Clean Energy Initiative program, created in partnership with the New York State Energy and Research Development Authority. Other funding sources include $9.3 million from the Ithaca Housing Authority, $300,000 from Tompkins County Community Housing Fund, and nearly $91,000 from Ithaca Urban Renewal.

HCR Commissioner RuthAnne Visnauskas said, "Addressing the state's housing crisis requires innovative solutions that creates new housing and also improves our existing affordable housing stock. The transformative work completed at three Ithaca Housing Authority sites accomplishes both of these goals and will provide life-changing opportunities for more than 100 households for generations to come. We thank the Ithaca Housing Authority and our partners for making this extensive project possible as well as Governor Hochul for her commitment to making New York more affordable for all."

Doreen M. Harris, President and CEO, NYSERDA said, "Transforming aging structures into clean, modern affordable housing equipped with the latest high-performance energy saving solutions advances Governor Hochul's commitment to expanding housing in New York State. These efforts create healthier living opportunities that are accessible to New Yorkers who need them, not just in the Southern Tier, but throughout New York State."

Senator Lea Webb said, "Affordable housing is the foundation of strong, vibrant communities, and the Ithaca Housing Authority project highlights the power of investing in long-term solutions to meet the needs of residents in Ithaca," said State Senator Lea Webb. "With the rehabilitation of units and the construction of new, affordable rental homes across three sites, this initiative ensures that residents will have safe, sustainable, and high-quality housing. I am deeply appreciative to all of our community partners who helped to make this happen. I will continue to prioritize quality and affordable housing which supports individuals and families across our region."

Assemblymember Anna Kelles said, "Finding affordable housing in Ithaca, NY has only continued to become more elusive making these critically important projects absolutely invaluable. I want to thank the Governor and the great work of Homes & Community Renewal for supporting our nonprofit Cayuga Housing Development Corporation and 3d Development Group in completing these homes. The commitment to ensure that existing residents were not displaced and get a right of first refusal for the newly renovated and constructed homes is a commitment to economic and racial justice and the energy efficiency measures and all-electric construction will benefit both the residents and our environment. The increase in single bedroom apartments will also more closely match housing availability with the needs in our community. Redevelopments can be disruptive to the community so I want to give a particular thank you for the commitment to keep children in their schools of choice throughout the duration of the construction."

Tompkins County Legislature Chair Dan Klein said, "The Ithaca Housing Authority's Northside Apartments project provides a much-needed infusion of high-quality affordable housing in Tompkins County. A lack of affordable housing is at the root of so many issues in Tompkins County. The County is proud to be a small piece of the financing puzzle that brought this project to fruition."

Brenda Westfall, Executive Director of the Ithaca Housing Authority, said, "Redeveloping these properties was about more than just renovating buildings; it's about revitalizing communities, preserving affordability, and creating opportunities for families to thrive. Each improvement we make is an investment in the future, ensuring that everyone has access to safe, dignified, and sustainable housing. It's a commitment to equity, stability, and the well-being of our entire community."

Bruce Levine, President, 3d Development Group, LLC, said, "The collaborative effort between HCR, the Ithaca Housing Authority, City of Ithaca and the development team is what took this project from a concept to where we are today, with the ribbon cutting of Northside Apartments."

Governor Hochul's Housing Agenda

Governor Hochul is committed to addressing New York's housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York's housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 45,000 homes have been created or preserved to date.

The FY25 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro Housing Certification is now a requirement for localities to access up to $650 million in discretionary funding. Currently, more than 225 communities have been certified, including the city of Ithaca.