Governor Kathy Hochul today announced the completion of Riverview Apartments, a new 60-unit affordable apartment building in the Saratoga County town of Corinth. The $24 million, zero-emissions project includes 30 units with on-site services for eligible households. Over the past five years, New York State Homes and Community Renewal has created or preserved more than 900 affordable apartments in Saratoga County. Riverview Apartments continues that effort and complements Governor Hochul’s $25 billion, five-year housing plan, which is on track to create or preserve 100,000 affordable apartments statewide.
“New York is committed to creating new housing opportunities in every corner of the state, and we are fortunate that places like Corinth have joined our Pro Housing Communities program,” Said Governor Hochul. “Riverview Apartments brings much-needed affordable housing to Saratoga County and provides residents with critical support services while reducing building emissions to create healthier neighborhoods and a cleaner, greener state.”
Riverview Apartments is a zero-emissions housing project that does not require fossil fuels. The building is heated and cooled using a geothermal system and electricity is provided by a community solar array. The project also features ENERGY STAR® appliances and lights, has water-efficient fixtures, and uses paints and sealants with low or no volatile organic compounds. The building was designed to meet the requirements of the New York State Energy Research and Development Authority New Construction – Housing Tier IV program and the LEED for Homes V4 program.
Each unit at Riverview Apartments will be available to households earning up to 60 percent of the area median income. The 30 units will be reserved for households struggling with homelessness or mental illness. RISE will provide on-site services including mental health support, independent living training, service coordination and crisis intervention.
The building has a common area with kitchen, laundry room, gym, bike storage and access to free broadband internet. On-site transportation services are offered to residents.
Riverview Apartments is supported by HCR’s Federal Low Income Housing Tax Credit program, which generated approximately $11.8 million in equity, the State Low-Income Housing Tax Credit program, which generated $3.6 million in equity, a $2.3 million loan from its Supportive Housing Opportunity program, a $2 million loan from its HOME program, and a $1.1 million loan from its Federal Housing Trust Fund program. The New York State Office of Mental Health provided a $257,000 project development grant and NYSERDA’s New Construction – Housing program provided a $240,000 RISE incentive. National Grid provided a $203,000 Clean Heat energy incentive. Operating funds of approximately $750,000 annually for the assisted housing units are provided by the Empire State Supportive Housing Initiative through OMH.
Governor Hochul’s housing program
Governor Hochul is committed to addressing New York’s housing crisis and making the state more affordable and livable for all New Yorkers. As part of the passed budget for fiscal year 2025, the Governor secured a landmark agreement to increase housing supply in New York through new tax incentives for communities in the state’s north end, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned land, an additional $600 million in funding to support various housing projects across the state, and new protections for renters and homeowners. In addition, as part of the adopted budget for fiscal year 2023, the Governor announced a five-year, $25 billion housing plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, and electrify an additional 50,000 homes. More than 45,000 homes have been created or preserved to date.
Last August, Governor Hochul also announced the Pro-Housing Communities Program. Certification as a Pro-Housing Community is a requirement for communities to receive up to $650 million in federal funding. To date, more than 160 communities have been certified, including the City of Corinth.
Senate Majority Leader Charles Schumer said: “I am proud that the federal low-income tax credit, which I worked hard to protect and expand, has provided nearly $12 million to complete the Riverview Apartments in Corinth, which will provide more families with a safe, affordable, and energy-efficient place to live. High housing costs are a major driver of inflation, so we must create more housing for working people to bring down those high prices. I applaud Governor Hochul’s work to increase access to affordable housing in Saratoga County and across New York, and I will continue to work to provide federal funding to ensure every New Yorker has a roof over their head.”
MP Paul Tonko said: “I am thrilled to make this announcement, which represents a major step forward in our efforts to provide accessible, sustainable housing for our communities. By leveraging significant federal and state funding, we have created 60 new zero-emission, affordable homes for our growing workforce in the Capital Region – each equipped with state-of-the-art geothermal and solar energy systems. This project is a reflection of our unwavering commitment to expanding affordable housing and addressing our climate crisis, and I look forward to continuing our efforts to ensure all Americans have a safe, comfortable place to call home.”
RuthAnne Visnauskas, New York State Commissioner for Housing and Community Renewal, said: “Riverview Apartments will provide 60 households with affordable, safe and modern apartments to call home. This $24 million project exemplifies Governor Hochul’s priorities to create more affordable housing while making our housing stock more environmentally friendly. As the City of Corinth joins more than 160 communities across New York that have been certified as Housing Friendly Communities, we look forward to seeing more projects like this in the region and across the state.”
OMH Representative Dr. Ann Sullivan said, “Assisted living enables people with mental illness to successfully navigate their path to recovery. The 30 assisted living units at Riverview Apartments provide safe and stable housing with services to help residents live and thrive independently in their own community. Congratulations and thank you to RISE Housing & Support Services and all of our partners in creating this beautiful new home.”
NYSERDA President and CEO Doreen M. Harris said, “Riverview Apartments feature the latest construction features for building performance and resiliency, as well as heat pumps for more efficient heating and cooling needs and electricity from community solar energy. These modern amenities will help reduce local carbon emissions and energy costs for Saratoga County residents while ensuring access to comfortable, healthy, affordable and supportive housing right in their community.”
State Senator Jim Tedisco said“Affordable housing is an important issue for many New Yorkers living on a fixed income. I want to thank Governor Hochul and NYS Homes and Community Renewal for their efforts to build 60 new affordable homes in the City of Corinth and the 44th Senate District with supportive services for residents who may need them to live independently.”
MP Matthew Simpson said“The 60 new housing units in Corinth are incredible. These units provide viable housing that alleviates affordability issues and provides quality housing options for seniors and those seeking supportive housing options. The community will certainly be well served and many of its needs will be met. While we still need to do more to address housing affordability issues overall, this is a huge step forward for the area. I thank Hudson River Community Credit Union for their generosity in donating the land and extend my sincere gratitude to the state and local stakeholders who made this project possible.”
Mayor of Corinth Township, Terry Miller said“The new Riverview Apartments in the Village of Corinth are complete. It is a beautiful development. The selection process for residents of the 60 units is underway. This development will provide locals in need of social housing, seniors on fixed incomes, and people with mental illness the opportunity to live in a beautiful, safe development. This is certainly needed in the Village and Town of Corinth.”
Kim Ireland, Regional Manager for National Grid said“National Grid supports the state’s energy goals and is proud to be part of the Clean Heat rebate program. National Grid was able to provide more than $200,000 in incentives for the Riverview Apartment project, which will save more than 2,100 MMbtu of natural gas and 43,000 kWh of electricity.”
Todd Shimkus, President of the Saratoga County Chamber of Commerce said“As Saratoga County’s economy continues to grow, we need to create more affordable housing so more people can live and work in our communities. That’s why we are so grateful to Governor Hochul’s leadership in supporting organizations like RISE to make projects like this happen. We believe that every grand opening the Saratoga County Chamber of Commerce hosts is a celebration of a dream come true, and the completion of this project means the dreams of more than 60 families will come true as they move into a new home at Riverview Apartments. Kudos to everyone at the state, regional and local levels who helped make this day and project possible.”
Sybil Newell, Managing Director of RISE Housing & Support Services, said“I am so pleased to see the Riverview project now come to fruition. This has been a community project from day one, and that we can now create affordable housing in northern Saratoga County is such an impressive reward. Thank you to NYS Homes and Community Renewal and the NYS Office of Mental Health for being incredible partners as always. And a huge thank you to Hudson River Community Credit Union for donating the land on which Riverview now stands. We look forward to our continued collaboration.”
