- Public Housing/RAD
- Glens Falls, NY
- 313 units
- In Construction
- WBP Development
Duvernay + Brooks and WBP Development were selected by the Glens Falls Housing Authority (GFHA) to be their redevelopment partner. A joint venture was formed to redevelop the housing authority’s existing 306 unit portfolio into 313 units amongst 4 scattered sites located in the City of Glens Falls and the Village of Hudson Falls. This was the first time in NY State an entire housing authority portfolio was financed in a single RAD/Tax Credit/Tax-Exempt Bond transaction. Three 40-50 year old public housing senior buildings with a total of 259 units (including one new unit in each tower that is being created from unit reconfiguration) underwent a RAD/Section 18 blend conversion and are being rehabilitated, and the Larose Gardens public housing site received Section 18 approval and is being demolished and replaced with new construction, 3-story buildings providing 54 family apartment homes, including PBV units and several tiers of LIHTC units.
The scope includes asbestos abatement and replacing all the water, heating and sanitary piping, while maintaining services to the residents. The apartment renovations include all new kitchens and bathrooms, new flooring, baseboards, lighting, doors and trim. The community rooms, which have been largely untouched for decades, are being reimagined into modern attractive spaces with kitchens, computer rooms and fitness equipment. All the apartment homes will be designed under NYSERDA and Energy Star guidelines to promote energy efficiency. All work is being completed in accordance with Davis-Bacon wage requirements.
The finance and acquisition occurred December 2020, and construction commenced in January 2021. Rehabilitated apartment homes at Cronin Towers were made available starting in June 2021, apartment homes at Larose Gardens will be available in early 2022, and Earl Towers and Stichman are expected to be fully completed in 2022.
The housing authority and developer team undertook an extensive resident consultation process, including multiple video/conference call and distanced on-site meetings at each of the four developments within the project. GFHA led the relocation process, included additional resident consultations for the 50-unit Larose Gardens, and successfully relocated all residents within approximately 3 months.
The project was financed by NYS Housing Finance Agency tax exempt bond financing/4% LIHTC and HCR subsidy. Citi Community Capital provided the construction period letter of credit and Regions Bank is the Housing Tax Credit investor. The Washington/Warren Counties Industrial Development Agency aided through a sales tax exemption and NYSERDA will provide incentives to support energy efficient design.