Wednesday, August 17, 2022

25 LaRose affordable housing opens in Glens Falls

By Ben Kinne, Special to The Chronicle

“Beautiful.” That’s how resident Curtis Hill describes the new 25 LaRose Apartments on LaRose Street in Glens Falls near the Broad Street Hannaford. Rents range from $994 to $1,366 and are calculated based on income.

Building B is already complete and fully occupied. Building A’s expected completion is the fall of this year.

The $68-million project to construct the two new three-story apartment buildings began in January of 2021 with the demolition of the original 6 apartment buildings built in 1967.

Cherie Kory, Executive Director of the Glens Falls Housing Authority, said most residents in Building B were here before.

“A majority of the units rented were the results of the ‘right to return’ from the displacement of residents living on the LaRose property prior to demolition. Fifty families were displaced into the community with Tenant Protection Vouchers subsidized by the Department of Housing and Urban Development.”

Each building has 27 apartments, a laundry room and a multipurpose room.

The complex offers a clubhouse with a gym, 70-inch flatscreen TV and a social gathering area. Mrs. Kory hopes local groups such as Boy Scout and Girl Scout troops will use it for meetings, card games and other special events. A new playground and gas grilling area are in the courtyard between the two buildings.

Each building contains 23 affordable units, with a resident’s rent determined by their income as a percentage of the area’s median income.

There are one-, two- and three-bedroom floor plans available.

Cherie Kory is Executive Director of the Glens Falls Housing Authority. Chronicle photo/Ben Kinne

Although all of the complex’s apartments are filled or spoken for, the Glens Falls JV Redevelopment Partnership, the owner-operator of the Housing Commission’s four apartment buildings in Glens Falls, has not closed the wait list.

Applications and more information on the complex can be found on the housing authority’s website at glensfallshousingauthority.org or by stopping by the Housing Authority’s office in Glens Falls City Hall Monday through Friday from 9 AM to Noon and 1 PM to 3 PM.

Four of the apartments are considered section 8 housing units, subsidized by Housing and Urban Development “to place households in units they can afford based on the number of bedrooms needed,” said Mrs. Kory.

She said a “Housing Choice Section 8 Voucher follows the individual. If a tenant moves the subsidy follows the voucher holder (household) to the new unit. Annual recertifications are required.”

Mrs. Kory said funding for the apartments came from several state and federal agencies.

“Financing through HUD was provided under the Rental Assistance Demonstration program,” she said.

“The New York State Housing Finance Agency provided a tax-exempt first mortgage loan, 4% as of right Housing Tax Credits. Citi Community Capital provided the construction period letter of credit and Regions Bank is the Housing Tax Credit investor. The Washington/Warren Counties Industrial Development Agency provided assistance through a sales tax exemption and NYSERDA will provide incentives to support energy-efficient design.”

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