In a significant stride to address the housing squeeze in Westchester County, Governor Kathy Hochul has unveiled the completion of a converted affordable housing development in the village of Tarrytown. The new complex named "62 Main" has been developed from the old YMCA of Tarrytown building, now offering 108 affordable apartments touted as energy-efficient living spaces. Governor Hochul celebrated this project as a step forward in her broader plan to tackle the housing crisis across the state, according to a release from the Governor's office.
The development boasts several sustainable features such as geothermal heating, ENERGY STAR® appliances, and a green roof. There's also a nod to the building's historic past, with the Main Street façade meticulously preserved and safeguarded under a Memorandum of Agreement with the New York State Historic Preservation Office. "My approach to tackling the housing crisis is simple: we need all types of housing options, especially in places like Westchester County," Governor Hochul stated, as per the Governor's office.
Focusing on affordability, "62 Main" targets households with earnings up to 70 percent of the Area Median Income with a special reservation of 88 units for seniors aged 55 and older. This project, which originated as a $54 million venture, reinforces the Governor’s comprehensive $25 billion, five-year Housing Plan that aims to deliver or preserve 100,000 affordable homes across New York State. Governor Hochul, in her statement, illustrated the project's dual role in revitalizing historical structures and aiding the elderly to stay in the community they love or to relocate to an accessible and lively village hub.
With regard to financial scaffolding, the project tapped various funding sources, including federal and state tax credit programs, loans from local funds, and assistance via the New York State Energy Research and Development Authority. A 30-year Payment In Lieu of Taxes Agreement further reinforced the fiscal framework, and the existing residents of the YMCA's former SRO units continue to pay no more than 30 percent of their income on rent, ensuring stability for long-term tenants. U.S. Senator Charles Schumer lauded the federal Low-Income Housing Tax Credit, which he championed and secured, for contributing $19 million to the project. Schumer expressed his support for initiatives aimed at building more housing for working people, emphasizing that high housing costs are a major factor driving inflation and need to be addressed to reduce these elevated prices, as detailed by the same press release.
The harmonious melding of modern living and Tarrytown's rich history at "62 Main" has received broad endorsement from local and state leaders. Assemblymember MaryJane Shimsky hailed the project as a paradigm for inclusive communities, providing seniors with affordable and efficient homes while allowing accessibility to the essence of Tarrytown life. Tarrytown Mayor Karen Brown expressed contentment with the new development that pays tribute to the historical significance while embracing future challenges of affordable housing and sustainability.
