Cortland Housing Assistance Council Receives $7.8 Million Through Low-Income Housing Tax Credit – Construction to Begin This Fall For River Street Project

On Tuesday, Governor Hochul announced over $270 million dollars in funding for building and preserving over 1,800 affordable homes throughout the state. The Cortland Housing Assistance Council (CHAC) was awarded $7.9 million dollars under the state’s Homes and Community Renewal Low-Income Tax Credit Program. This project was one of 28 awarded the funding.

“This funding is critical in supporting our mission of providing quality housing to income eligible seniors of Cortland. Once completed, the CHAC, Inc. will double its housing capacity.” Shawna Grinnell, Executive Director of the CHAC said to X101 News.

The funding will go towards an affordable senior housing apartment building at 33 River Street in the City of Cortland. Plans have already been approved by the Planning Commission and ZBA with the project on hold until funding was provided.

“Solving New York’s housing crisis comes down to one simple strategy: building more housing,” Governor Hochul said. “These critical federal resources make it possible for us to provide New Yorkers with new opportunities to access affordable, modern, sustainable homes that also provide access to childcare, supportive services, and the amenities that individuals and families need to thrive.”

The development at 30 River Street would be 53 one-bedroom apartments for seniors aged 62 and older who also earn up to 60% of the area median income. The building would be three-stories tall with 6 units designated as fully accessible; 3 for those with hearing/vision impairments and 12 for seniors experiencing or are at risk of homelessness. The choosing of the location of the project was cited for the convenience in location to grocery stores, restaurants, and parks.

The project is led by the Cortland Housing Assistance Council, Inc. which is a private, not-for-profit housing agency within Cortland County. Last May, the organization was awarded $2 million dollars through the NYS Office of Temporary and Disability Assistance Program and an additional $2 million in September from the NYS Homeless Housing Assistance Program. The overall cost of the project is estimated at $20 million dollars.

Grinnell told X101 News they anticipate to begin construction this fall with an 18-month construction timeframe.