Work has been completed on Riverview Apartments, a new net-zero affordable housing development in Corinth, Saratoga County, US.聽
The $24m project features 60 units, half of which are designated as supportive housing with on-site services for eligible residents.
This initiative aligns with New York’s governor Kathy Hochul’s $25bn five-year Housing Plan to create or preserve 100,000 affordable homes across the state.聽
Hochul said: 鈥淩iverview Apartments brings much-needed affordable housing to Saratoga County and also provides residents with key support services, while at the same time kerbing building emissions to achieve healthier neighbourhoods and a cleaner, greener state.鈥澛�
Riverview Apartments operates without the use of fossil fuels. It uses a geothermal system for heating and cooling while electricity is sourced from a community solar facility.聽聽
The development also incorporates water-saving fixtures and uses paints and sealants that are low in volatile organic compounds.聽聽
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe building was designed to meet the standards of the New York State Energy Research and Development Authority’s New Construction – Housing Tier IV programme and the Leadership in Energy and Environmental Design for Homes V4 programme.聽
All apartments at Riverview are accessible to households earning up to 60%聽of the area median income (AMI) and are specifically reserved for those dealing with homelessness or mental health issues.聽聽
RISE, a service provider at the facility, will offer a range of on-site services, including mental health support, service coordination, independent living skills training, and crisis intervention.
The building includes a community room with a kitchen, laundry and exercise rooms, bike storage, and free broadband internet access.
The financial backing for Riverview Apartments was secured through multiple sources.
The Federal Low-Income Housing Tax Credit programme contributed approximately $11.8m in equity while the State Low-Income Housing Tax Credit programme added another $3.6m.聽聽
Loans from various state programmes amounted to $5.4m, and the New York State Office of Mental Health provided a $257,000 development grant.
