Governor Hochul Announces New 60-Unit Affordable and Supportive Housing Development in Corinth

Governor Kathy Hochul today announced the completion of Riverview Apartments, a new 60-unit affordable apartment building in the town of Corinth, Saratoga County. The $24 million zero-emissions development includes 30 supportive units with on-site services for eligible households. In the past five years, New York State Homes and Community Renewal has created or preserved more than 900 affordable homes in Saratoga County. Riverview 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.

"New York is committed to creating new housing opportunities in every corner of the State and we're lucky to have places like Corinth who have joined our Pro Housing Communities Program," Governor Hochul said. "Riverview Apartments brings much-needed affordable housing to Saratoga County and also provides residents with key support services, while at the same time curbing building emissions to achieve healthier neighborhoods and a cleaner, greener state."

Riverview Apartments is a zero-emissions housing development and does not require fossil fuels. The building is heated and cooled using a geothermal system and electricity is purchased from a community solar facility. The project also features ENERGY STAR® appliances and light fixtures, has water-conserving fixtures and uses paints and sealants with low or no Volatile Organic Compounds. The building was designed according to the regulations of the New York State Energy Research and Development Authority New Construction - Housing Tier IV program and LEED for Homes V4 program.

Every unit in Riverview Apartments is available to households earning up to 60 percent of the Area Median Income. The 30 supportive units are reserved for households struggling with homelessness or mental illness. RISE will provide on-site services including mental health support, independent living skills training, service coordination, and crisis intervention.

The building has a community room with a kitchen, laundry room, exercise room, bike storage room and access to free broadband internet. On-site transportation services are provided for residents.

Riverview Apartments is supported by HCR's Federal Low Income Housing Tax Credit program that generated approximately $11.8 million in equity, State Low-Income Housing Tax Credit Program that generated $3.6 million in equity, a $2.3 million loan from its Supportive Housing Opportunity program, a $2 million loan from its HOME program and a $1.1 million loan from its Federal Housing Trust Fund program. The New York State Office of Mental Health provided a $257,000 project development grant and NYSERDA's New Construction - Housing program provided a $240,000 incentive to RISE. National Grid provided a Clean Heat energy incentive of $203,000. Operating funding of approximately $750,000 annually for the supportive units is being provided by the Empire State Supportive Housing Initiative through OMH.

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.

Last August, Governor Hochul also announced the Pro-Housing Communities Program. Pro-Housing Community certification is a requirement for localities to access up to $650 million in state discretionary funding. To date, more than 160 communities have been certified, including the town of Corinth.

Senate Majority Leader Charles Schumer said, "I'm proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered almost $12 million to help complete Riverview Apartments in Corinth, which will provide more families with a safe, affordable, and energy-efficient place to live. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul's work increasing access to affordable housing in Saratoga County and across New York, and I will continue working to deliver federal resources to ensure that every New Yorker has a roof over their heads."

Representative Paul Tonko said, "I'm thrilled to celebrate this announcement that marks a major step forward in our efforts to provide accessible, sustainable housing for our communities. By leveraging significant federal and state funding, we've created 60 new zero-emission affordable homes for our expanding Capital Region workforce - each equipped with state-of-the-art geothermal and solar energy systems. This project is a reflection of our unwavering commitment to expanding affordable housing and combating our climate crisis, and I'm eager to continue our efforts to make certain that all Americans have a safe, comfortable place to call home."

NYS Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Riverview Apartments is providing 60 households with affordable, safe and modern apartments that they can call home. This $24 million development exemplifies Governor Hochul's priorities of building more affordable housing while also greening our housing stock. As the town of Corinth joins more than 160 communities across New York that have become certified pro-housing communities, we look forward to seeing more projects like this in the region and statewide."

OMH Commissioner Dr. Ann Sullivansaid, "Supportive housing enables people living with mental illness to be successful on their path to recovery. The 30 supportive units in Riverview Apartments will provide safe and stable housing with services to help the residents live and thrive independently in their own community. Congratulations and many thanks to RISE Housing & Support Services and to all our partners in creating this beautiful new home."

NYSERDA President and CEO Doreen M. Harrissaid, "Riverview Apartments incorporates the latest new construction features for building performance and resiliency along with heat pumps for more efficient heating and cooling needs and electricity powered from community solar. These modern amenities will help lower onsite carbon emissions and energy costs for residents in Saratoga County while ensuring access to comfortable, healthy, affordable and supportive housing right in their community."

State Senator Jim Tediscosaid, "Affordable housing is an important issue to many New Yorkers who live on fixed incomes. I want to thank Governor Hochul and the NYS Homes and Community Renewal for their efforts in constructing 60 new affordable apartments in the town of Corinth and 44th Senate District with supportive services for residents who may need them to live independently."

Assemblymember Matthew Simpson said, "The addition of 60 new housing units to Corinth is incredible. With these units providing viable housing that alleviate affordability challenges as well as affording quality living opportunities to seniors and those searching for supportive options, the community is sure to be well served and have many needs met. While we have more work to do to address housing affordability challenges at large, this is a huge step forward for the area. I thank Hudson River Community Credit Union for their generosity donating the land and extend my sincere gratitude to state and local stakeholders who made this project become a reality."

Village of Corinth Mayor Terry Millersaid, "The new Riverview Apartments, in the Village of Corinth are completed. It is a beautiful facility. The process is underway to select the occupants of the 60 units. This facility will afford local people in need of low-income housing, senior citizens on fixed incomes and individuals with mental health illnesses the opportunity to live in a nice, safe facility. This is surely needed in the Village and Town of Corinth."

National Grid Regional Executive Kim Irelandsaid, "National Grid supports the State's energy goals and is proud to be a part of the Clean Heat rebate program. National Grid was able to provide more than $200,000 in incentives for the Riverview Apartment project that will save more than 2,100 MMbtu of natural gas and 43,000 kWh of electricity."

Saratoga County Chamber of Commerce President Todd Shimkussaid, "As Saratoga County's economy continues to grow, we need to build more affordable housing so more people can live and work within our local communities, and that is why we are so appreciative of Governor Hochul's leadership to support organizations like RISE as they look to build projects like this. We believe every ribbon cutting that the Saratoga County Chamber hosts is the celebration of a dream come true, and this project's completion means that the dreams of more than 60 families will come true as they move into a new home at the Riverview Apartments. Kudos to everyone at the state, county, and local level that played a role in making this day and this project possible."

RISE Housing & Support Services Executive Director Sybil Newell said, "I am so happy to see the Riverview project come to fruition. This was such a collaborative project from day one, and to now be able to provide affordable housing to northern Saratoga County is such an impactful payoff. Thank you to NYS Homes and Community Renewal, and the NYS Office of Mental Health for being incredible partners as always. And a huge thank you to the Hudson River Community Credit Union for donating the property on which Riverview now stands. We look forward to our continued collaboration."

Contact the Governor's Office