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Governor Kathy Hochul has announced more than $240 million in state and federal tax credits and subsidies are going toward creating and preserving 1,800 affordable homes in communities across New York.
The funding comes as part of the state’s five-year, $25 billion housing plan, according to the governor’s office.
The awards are provided through New York State Homes and Community Renewal’s annual Low-Income Housing Tax Credit competitive funding round, with $66 million from tax credits and $176 million in subsidy loans, the announcement reads.
When combined with private investment, state officials say it’s expected to generate about $1 billion in total development.
“The housing crisis won’t solve itself,” Hochul said in a statement. “If we want New York to remain a place people can afford to call home, we have to act with urgency … expanding affordable homes for people of all ages.”
Here are the Long Island projects funded in this round, according to NYS:
• Dogwood Terrace in Hempstead: about $19.2 million to redevelop 104 public housing units and add a new community facility.
• Northville Commons in Riverhead: about $12.2 million for 80 affordable units on vacant land as phase one of a larger supportive housing project.
• Alegria South in Bellport: about $13.2 million to build 96 affordable and supportive units, including townhomes and a community facility.
• Bishop Ronald H. Carter Manor in Freeport: about $12.3 million for an 80-unit senior and supportive affordable housing development with shared parking.
The four projects represent roughly $57 million that’s headed to Nassau and Suffolk counties.
Top: New York Gov. Kathy Hochul arrives for the opening ceremonies at the Ryder Cup golf tournament, Wednesday, Sept. 24, 2025, on the Bethpage Black golf course, in Farmingdale, N.Y. (AP Photo/Lindsey Wasson)
