New York State Homes & Community Renewal Commissioner RuthAnne ...

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas today announced the completion of Marketplace Senior Apartments, a $52 million, new 150-unit all-electric affordable apartment building on a vacant parcel on the Marketplace Mall campus, a local shopping center and transportation hub in the town of Henrietta, Monroe County. All apartments in this four-story building are dedicated to households aged 55 and older earning up to 60% of the Area Median Income with 45 apartments reserved for residents who need supportive services to live independently. In the past five years, HCR has created or preserved nearly 7,000 affordable homes in Monroe County. Marketplace Senior Apartments 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.

"Older New Yorkers throughout the state have been affected by a shortage of apartments that offer the services they need to help them live independently," Governor Hochul said. "The development of Marketplace Senior Apartments creates new, affordable, energy-efficient homes in the heart of Henrietta, replacing unused space that continues the important investments in housing that we're making across Monroe County and the State."

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Marketplace Senior Apartments provides critically-needed senior housing, while contributing to the revitalization of Henrietta's Marketplace Mall by utilizing space that has been vacant for more than 20 years to create 150 affordable apartments. These types of developments are driven by Governor Hochul's commitment to providing all New Yorkers, especially our senior households, the opportunity to live in an affordable, modern, and energy-efficient apartment in the communities they call home."

Marketplace Senior Apartments is conveniently located to allow residents access to local amenities including retail, medical and recreational services, as well as transportation to downtown and surrounding Monroe County communities through Rochester's Regional Transit Service. Amenities include a fitness center, common balcony, patio, community room, and multiple lounge areas.

Developed by Rochester's Cornerstone Group and Genesis Housing Development Corporation, the development is supported by HCR's Federal and State Low Income Housing Tax Credit program that generated approximately $25 million in equity and $17 million in subsidy. The all-electric development received $825,000 through HCR's Clean Energy Initiative program, created in partnership with NYSERDA. The project is certified under the U.S. Green Building Council's LEED program, achieving Gold level, and LEED Zero Energy, utilizes features including high-performance exterior insulation, Energy Star rated appliances, high-efficiency heat pumps, and low-flow plumbing fixtures.

The supportive apartments benefit from Empire State Supportive Housing Initiative awards to Catholic Charities Family and Community Services, which are administered by the New York State Department of Health. Services include care coordination, transportation, emergency financial assistance, on-site support groups, and wellness workshops.

New York State Health Commissioner Dr. James McDonald said, "The State Health Department recognizes housing as an important social determinant of health, which we know leads to better health outcomes and lower overall health care costs. This new affordable housing development with apartments designated for older New Yorkers is another indication of Governor Hochul's continuing leadership on ensuring access to services that will allow seniors to live and age in a safe and supportive environment."

NYSERDA President and CEO Doreen M. Harris said, "NYSERDA is proud to support the expansion of affordable, supportive housing through projects like the Marketplace Senior Apartments in Henrietta. Prioritizing energy efficient and modern features in these apartments provides healthy, comfortable places to live for our neighbors in need while ensuring more New Yorkers can benefit from new technologies that use less energy and help reduce utility bills."

Henrietta Town Supervisor Stephen Schultz said, "The Marketplace Senior Apartments are the culmination of the town's efforts to encourage new life breathed into older retail areas and they epitomize the goals of the mixed-use revitalization districts we created. The fact that they had a waiting list far exceeding capacity on day one illustrates how high the demand is for this type of housing, especially when it is quality housing like what the Cornerstone Group has built. We hope this is just the first of a number of these types of projects in Henrietta."

Assemblymember Harry Bronson said, "Seniors face some of the most significant shortages of affordable housing, and deserve a home where they can age with dignity, surrounded by community and vital supports. Marketplace Senior Apartments addresses the needs of our seniors at all stages of aging so they can continue to remain in the place they call home. Thank you to New York State Homes and Community Renewal, County Executive Bello, Supervisor Schultz and the many partners who have contributed to Marketplace Senior Apartments. They are a welcome and much-appreciated addition to Henrietta."

Monroe County Executive Adam Bello said, "The completion of the Marketplace Senior Apartments in Henrietta adds 150 units that provide a safe and comfortable place for older adults to call home. The completion of these apartments is an important step toward our ongoing commitment to provide more affordable, quality housing for older adults. Thank you Governor Hochul for your support of this project and for your continued advocacy for affordable housing, investments like these ensure that older adults regardless of income are able to age in place with dignity and security."

Roger Brandt, President of Rochester's Cornerstone Group, Ltd. said, "Rochester's Cornerstone Group is proud to work on Marketplace Senior for the last five years. Marketplace is bringing much-needed affordable senior housing to Rochester, New York. Cornerstone is thankful to all of its partners for making this project a reality including private, public, local, and statewide agencies."

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, and more than 330 including the town of Henrietta.

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