New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas Announces Completion of 88-Unit Public Housing Revitalization in Albany

New York State Homes & Community Renewal Commissioner RuthAnne Visnauskas today announced the completion of Steamboat 20, one of four towers located at Steamboat Square in the city of Albany and the first phase in the revitalization of the entire public housing complex. The $42 million rehabilitation preserves 51 existing apartments and adds 37 new apartments, including 14 with supportive services for a total of 88 modern, highly energy-efficient homes. In the past five years, New York State Homes and Community Renewal has created or preserved nearly 1,500 affordable homes in Albany County. Steamboat Square revitalization continues this effort and complements Governor Hochul's $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.

"We are starting a new chapter at Steamboat Square that builds on our commitment to providing quality affordable homes for New York residents," Governor Hochul said. "The completion of Steamboat 20's rehabilitation improves and creates apartments at this long-standing Albany Housing Authority complex, extending the life of an indispensable resource for years to come. With state-of-the-art energy-efficient features, these modern apartments will be comfortable and affordable for residents, while reducing greenhouse gas emissions and protecting our environment."

HCR Commissioner RuthAnne Visnauskas said, "Addressing our housing crisis requires innovative solutions that not only construct new housing but preserve and improve the housing stock we currently have. The extensive rehabilitation at Steamboat Square's Steamboat 20 has preserved 51 critically needed apartments and added 37 more to create 88 modern, energy-efficient, all-electric affordable and supportive homes in Albany. By replacing aging public housing, we protect and enhance our housing supply for the long-term, stabilize neighborhoods, and provide the opportunities New Yorkers deserve to live, work, and thrive in the communities they choose. Thank you to the Albany Housing Authority and our partners for making today possible, and congratulations to the residents who will call the new Steamboat Square home.

The project improved the building's energy efficiency, with numerous upgrades that lower costs for residents and reduce greenhouse gas emissions, including the conversion of existing gas-fired HVAC and domestic hot water systems to an all-electric geothermal system and the installation of LED lighting, energy-star appliances, and low-flow plumbing fixtures.

Developed by the Albany Housing Authority, Edgemere Development, and Home Leasing, Steamboat 20 is one of four high-rise buildings in the Steamboat Square Historic District in Albany's Capital South neighborhood and the first building to be rehabilitated. The buildings are part of the Steamboat Square Historic District and were constructed in three phases between 1959 and 1983. Steamboat Square Historic District is listed in the State and National Registers of Historic Places.

The Albany Housing Authority is planning a $225 million second phase to revitalize the remaining three high-rise buildings and 44 townhomes on Green Street in Albany's South End neighborhood. This phase will rehabilitate 300 existing apartments and convert presently decommissioned spaces into 43 new apartments. Eight ground floor commercial spaces will also be renovated. The second phase is anticipated to begin construction in 2025. All apartments are set aside for returning tenants and households earning up to 70% of the Area Median Income.

The supportive apartments benefit from Empire State Supportive Housing Initiative awards to CARES of NY, which are administered by the New York State Office of Mental Health. Support services include case management, care coordination, self-sufficiency, and mental health support.

State financing includes $3.2 million in federal Low-Income Housing Tax Credits that will generate $14.6 million in equity and $7.9 million in subsidy from HCR. The New York State Historic Preservation Office provided $10.6 million in state and federal historic tax credits. The New York State Office of Temporary Disability Assistance provided $2.4 million in support from the Homeless Housing and Assistance Program. The project received $1.1 million through HCR's Clean Energy Initiative program, created in partnership with the New York State Energy Research and Development Authority. The New York State Attorney General's office provided $352,000 in support. Empire State Development provided a $120,000 capital grant to support the rehabilitation of community space occupied by supportive service provider CARES of NY and Wizard's Wardrobe, a free after-school tutoring program for elementary school students in Albany's South End.

Office of Temporary and Disability Assistance Commissioner Barbara C. Guinn said, "The supportive housing created by the revitalization of Steamboat 20 provides formerly homeless individuals with much needed safe and healthy homes with onsite access to essential support services that will empower them to live stable and successful lives in their community. We are grateful to Governor Hochul for prioritizing the creation of affordable and supportive housing throughout New York State, and to Albany Housing Authority and all of the state and local partners for reaching this milestone. We look forward to the next phases of revitalization at this historic property."

Empire State Development President, CEO and Commissioner Hope Knight said, "The Steamboat 20 project will further advance Governor Hochul's housing agenda by creating new living spaces and supportive housing in Albany. The rehabilitated commercial space within the building, which will be used by local non-profit and social services groups, will further support community development efforts creating new opportunities for residents and others in need."

State Office of Mental Health Commissioner Dr. Ann Sullivan said, "Supportive housing can help New Yorkers living with serious mental illness to achieve lasting stability in their lives and thrive within their community. The revitalized Steamboat 20 building fills this need in Albany's South End neighborhood and the Capital Region. This project reflects Governor Hochul's ongoing commitment to expanding supportive housing statewide and ensuring all New Yorkers have a safe, stable place to live."

NYSERDA President and CEO Doreen M. Harris said, "Preserving and expanding Steamboat Square shows how State and local resources can come together to expand affordable public housing for New Yorkers. These newly improved apartments in Albany were redeveloped with both residents and the environment in mind, incorporating energy efficient features that will provide our neighbors in need with comfortable, modern living while reducing the building's carbon footprint."

New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simons said, "Communities across the state are looking for solutions to address the critical need for affordable housing. Existing historic infrastructure offers tremendous opportunities for reinvestment and rehabilitation. The Historic Rehabilitation Tax Credit Program in particular helps leverage resources to help make these projects as successful as they can be. Spaces and communities are reactivated. Preservation, collaboration, and innovation are great partners in these efforts, and we are honored to be part of this work."

Assemblymember Patricia Fahy said, "Combatting our housing crisis is one of my top priorities, and I'm thrilled to see Albany's affordable housing options expanding at a time when it's needed most. This project, supported by funds secured in the state budget, is a testament to the partnership between the private sector and our local governments that continue to pay dividends for local residents. As we continue to address the housing and affordability crisis, I look forward to seeing more of these projects come online to support the need for housing across the Capital Region. This project will deliver housing that specifically addresses the needs of our community and I couldn't more thrilled to see its completion.

Albany County Executive Daniel P. McCoy said, "Access to quality affordable housing is the cornerstone of a strong and resilient community. Yet, finding stable housing remains a challenge for far too many families in our region. These renovations to the historic Steamboat Square public housing complex provide much needed upgrades for the current tenants and ensure that this complex remains a viable option for years to come. I thank Governor Hochul, Mayor Sheehan, and all our partners for bringing this project to fruition. It is a significant step forward that will have a tangible impact for so many in the South End."

Albany Mayor Kathy Sheehan said, "Our residents deserve quality, affordable housing and the revitalization of Steamboat Square is making that reality possible. This project is truly an example of multiple levels of government coming together, utilizing funding from every level of government - local, state, and federal - to develop 21st century energy efficient homes for our residents. I am so grateful to all those who made this project possible, including President Biden, VP Harris, Senate Majority Leader Schumer, Senator Gillibrand, Governor Hochul, Senator Breslin, Assemblymember Fahy, Assemblymember McDonald, the Albany Community Development Agency, as well as Executive Director Chiquita D'Arbeau and the entire team at the Albany Housing Authority."

Chiquita D'Arbeau, Executive Director of the Albany Housing Authority, said, "The Albany Housing Authority is proud to celebrate this new chapter of Steamboat Square. We applaud Governor Hochul's visionary plan and commitment to housing in New York State, as well as all the partners who made this project possible. We hope this will serve as a model for future investment in public housing. Our work does not stop at Steamboat Square. The Housing Authority will continue to pursue projects that will transform the quality of life for residents."

Miriam Zinter, Vice President and Mortgage Officer at the Community Preservation Corporation, said, "Our public housing represents a critical and irreplaceable piece of Albany's affordable housing stock. CPC is proud to be part of an effort that delivered the resources needed to revitalize and upgrade the housing at Steamboat 20, ensuring the residents now have beautiful, energy-efficient and affordable homes that they can be proud of. My thanks to Governor Hochul, HCR Commissioner Visnauskas, the Albany Housing Authority, Edgemere Development, Home Leasing, and to the residents for their patience and collaboration."

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. To date, more than 160 communities have been certified, including the city of Albany.

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