New York state’s Mid-Hudson Momentum Fund will be spending $60 million on 10 projects in the Hudson Valley region. Gov. Kathy Hochul made the spending announcement during an event in Yonkers. She had taken a Metro-North train from Grand Central Station to Yonkers. Most of the money will be spent in support of projects that will create new housing.
According to Westchester County Executive Ken Jenkins, “Here in Westchester County, we are working hard to build more affordable housing, and the Momentum Fund investment is a game-changer in increasing the number of people who will have a warm place to call home. This funding will help develop 2,000 new affordable housing units in the Hudson Valley.”
In Westchester, $3.75 million will go toward The Abbey on Park, a mixed-income housing development in Yonkers. It is due to have 81 affordable apartments across three buildings, combining adaptive reuse and new construction. Infrastructure improvements include parking garage enhancements, accessibility upgrades, drainage improvements, and green renewable technology integration. The total project cost is nearly $58 million.
Also in Yonkers, $7.5 million is being set aside for Bridgewater North at Ludlow Station. It’s a transit-oriented mixed-use development featuring 208 new apartments, including 21 affordable apartments, ground floor retail, a spa, and a parking garage. The project includes revitalizing O’Boyle Park and creating the new Bridge Street Park and Promenade. The total project cost is nearly $113 million.
$10 million has been allocated to support Westchester Crossing at the former United Hospital site in Port Chester. The funding will help pay for new water, sewer and stormwater management systems plus roads and sidewalks. The project is due to include 975 housing units, including 87 affordable units.
In Mount Vernon, $5 million has been allocated for QWest, a project due to replace abandoned gateway buildings with two new structures containing residential units and commercial space. The total project cost is more than $158 million, and it is due to create 228 affordable housing units.
A project in New Rochelle, Stella Phase II is to receive $5 million. The mixed-use development near the Metro-North station features 126 affordable condominium units. The total project cost is more than $100 million.
In Orange County, $10 million is due to be spent for the Kiryas Joel Water Treatment Facility. Kiryas Joel is a Hasidic community. The new water treatment facility will enable the village to add a reliable water supply for planned growth through the addition of 5,229 housing units, including 1,047 affordable units. The total project cost is more than $52.5 million.
Another $10 million has been allocated for Town of Ramapo infrastructure improvements in Rockland County. These include approximately two miles of new sewer piping and a new water main serving underserved northeastern areas where there are plans for 1,196 housing units including 296 affordable units. The total project cost is estimated at $20 million.
In Newburgh, $4.2 million has been allocated for the Shaw Building Redevelopment. It involves renovation of a warehouse to create a mixed-use space with 53 apartments, including five affordable apartments and commercial units including a gym, restaurant, and art studios. The total project cost is nearly $22 million.
$2.5 million is due to be spent for Monticello Manor Lofts in Sullivan County. This project is designed for 76 residential units, including specialized housing for individuals with disabilities and traumatic brain disorders. The total project cost is nearly $37 million.
In Ulster County, $2.5 million has been designated for a project to convert a former Quality Inn hotel into 83 affordable housing units, along with commercial spaces. The project is designed to include a therapeutic swimming pool, supportive services offices, and a community room. The former hotel restaurant will be renovated to contain a child daycare center and a commissary kitchen. The total cost of the project is more than $41 million.
Congressman George Latimer, who spoke at the Yonkers event, said, “It is no secret that our region needs more housing, and we need it fast. I am very glad to see Yonkers, Port Chester, Mount Vernon and New Rochelle have been selected to receive funding for infrastructure upgrades and to complete mixed-use and transit-oriented projects. These strategic investments will strengthen our communities and make them more livable for years to come.”
