A groundbreaking ceremony was held to mark the start of construction on a $22 million affordable senior housing development in the Town of Lloyd in Ulster County. The project, known as Silver Gardens, will have 57 apartments with 29 to be occupied by homeless seniors.
The project is a joint venture by the nonprofit RUPCO and developer Richard Gerentine. RUPCO, which is involved in creating affordable housing, also provides services to help people improve their living standards. The organization has worked with Gerentine on four other senior housing developments in Ulster.
When the plans for Silver Gardens were working their way through the approval process by Lloyd’s Planning Board and Town Board, local residents and environmentalists raised concerns about clearing the development site, which is in proximity to Franny Reese State Park. The park is owned by the Palisades Interstate Parks Commission and managed by the nonprofit Scenic Hudson. Scenic Hudson appeared at some of the hearings on the proposal and said that plants and wildlife would be adversely affected.
Silver Gardens will consist of a single three-story building with 57 one-bedroom apartments. Twenty-nine of the apartments will be for seniors with incomes at or below 30% of the Area Median Income (AMI). There will be 18 units receiving rental assistance through Project-Based Vouchers and an Empire State Supportive Housing Initiative grant. In addition to the rental subsidy, occupants of those units will have access to case management and other supportive services. The remaining 28 units will be accessible to seniors whose incomes are at 50% to 60% of AMI.
The building will utilize geothermal energy systems and Energy Star appliances and will be all-electric. Amenities will include a community room with an outdoor patio, a laundry room, computer lab, bike room, and access to free high-speed broadband throughout the building. The project is less than a quarter mile from Bridgeview Plaza shopping center.
State financing for Silver Gardens includes $10.5 million in Federal Low-Income Housing Tax Credits and $7.1 million in subsidy from New York State Homes and Community Renewal. The project is receiving $427,000 in Clean Energy Initiative funding. The Community Preservation Corporation is providing $1.4 million in permanent financing. Ulster County is providing $600,000 in American Rescue Plan Act funds.
“In the midst of a housing crisis, with seniors facing long waiting lists for housing they can afford, we couldn’t be more thrilled to see the Silver Gardens development break ground. This is, moreover, precisely the kind of housing we need most, with wrap-around services for some of our most vulnerable seniors,” Ulster County Executive Jen Metzger said.
“Silver Gardens signifies more than just affordable housing; it embodies a beacon of hope and dignity for our seniors,” according to developer Gerentine. “Beyond shelter, the site’s prime location and supportive services will help create a nurturing community where residents can truly thrive. We’re thrilled to collaborate with RUPCO to bring this vital project to life, ensuring our seniors have the supportive and enriching environment they deserve.”
