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$14M housing project proposed for Hamilton Hill neighborhood
By Bethany Bump June 2, 2015

SCHENECTADY — A Rochester developer has local support to tear down almost an entire block of buildings in a blighted Schenectady corridor and replace them with a $14 million affordable housing development.

DePaul Properties Inc. wants to construct a three-story, 52,500-square-foot building on Albany Street that will house 50 apartments for low-income individuals and families in the city’s Hamilton Hill neighborhood. The company has developed similar housing in Western New York and the Carolinas and has been in discussions with Schenectady officials for more than a year to develop its first project in eastern New York.

Details of the project were revealed Tuesday, more than seven months after another developer announced it would invest $22 million in affordable housing development on nearby Craig Street and just months after several developers announced plans for retail and office space on nearby stretches of State Street.

“This is definitely an exciting and encouraging day for Hamilton Hill and the entire city of Schenectady,” said city Councilwoman Marion Porterfield, who worked closely with property owners and community residents to make the project happen. “I can say without hesitation this is the largest single investment and focused revitalization seen in Hamilton Hill in many years.”

Six buildings would be torn down on Albany Street between Hulett and Schenectady streets. Four of the buildings are occupied by American Electric Supply Co., a wholesale distributor of electrical materials owned by Schenectady Hardware & Electric Co., one of the region’s largest electrical contracting firms. Company officials could not be reached for immediate comment Tuesday, but local officials say they’ve worked out a deal to have them move into space on State Street near Brandywine Avenue.

Another property slated for demolition includes a three-story structure occupied by Lakshmi Associates, a small grocer that will move to State Street. An old branch of the former Mohawk National Bank is the final structure slated for demolition. The bank branch later went on to house the Charlie Mills Neighborhood Network Center, a community center dedicated to the late Schenectady police commissioner that has been vacant for several years.

The new housing development will face Albany Street, with parking available in the back and green space surrounding the building. One- and two-bedroom units will be available to neighborhood residents who earn up to 60 percent of the area’s median income. For a two-person household, the income limit is about $37,000 a year. For a four-person household, it’s about $46,000.

“The purpose is to bring affordable housing to the people who already live here,” said Porterfield. “We had a community meeting two weeks ago with the developer to get people in a room and explain what exactly will happen and get feedback from the community. It was a very good turnout. People had a lot of questions but were extremely supportive.”

DePaul will use a mix of financing for the project, including low-income housing tax credits, funds from the state Office of Mental Health for case management and employment services, and Community Development Block Grant funds from New York State Homes and Community Renewal.

It will construct, own and operate the building and employ people from the local community. The project will create 100 construction jobs and eight permanent jobs once the place opens.

“DePaul is pleased to be a community partner in meeting the need for quality affordable housing options in Schenectady and throughout New York state,” said DePaul President Mark H. Fuller. “We are proud to be part of the revitalization of Schenectady.”

The project is the latest investment announced for the Hamilton Hill neighborhood, home to some of the city’s lowest-income adults and children. Last fall, The Community Builders announced a multimillion-dollar project designed to infuse the community with new affordable housing for low-income families, veterans and seniors. That project, Hillside View Apartments, involves converting two vacant school buildings on Craig Street — the former Horace Mann Elementary School and the former St. Columba’s School — and renovating, demolishing and reconstructing nearly a dozen vacant buildings nearby.

The original figure for the first phase of that project was $17.5 million, but the company said as recently as March that the figure is now $22.4 million. So far, it’s secured more than $2.07 million in outside financing for the project, including a $660,000 Affordable Housing Program grant from the Federal Home Loan Bank of New York and $350,000 in predevelopment funding from the Community Loan Fund of the Capital Region.

Last month, however, the company missed out on a $7.95 million grant it had been seeking from the state Homes & Community Renewal’s Unified Funding Application. Instead, another project by The Community Builders in the city of Troy was awarded $4.29 million in these funds.

“TCB is working diligently to secure funding for multiple projects,” the company said in a statement. “This HCR funding round was a competitive one. As a result, our development in Troy, Tapestry on the Hudson, received HCR funding with the highest scoring application in the region. Though Hillside View did not receive the HCR award this round, our team is committed to seeking alternative financing. We look forward to developing Hillside View in Hamilton Hill alongside our neighbors and friends.”

Renovations could begin later this year, a company spokeswoman said. TCB has hired contractors in the neighborhood to help build Hillside View and other projects in Troy and Yonkers.

Developers are making other investments in the community, too. In addition to a new county library branch and literacy center planned for the 900 block of State Street, new projects headed to the neighborhood include a new Family Dollar store, office/retail flex space at the old Mohawk Honda site and a $6 million retail development at the corner of State Street and Brandywine Avenue.

Local officials — including Schenectady County Legislature Majority Leader Gary Hughes, Schenectady County Metroplex Development Authority Chairman Ray Gillen, Schenectady Mayor Gary McCarthy and Schenectady Community Action Program Executive Director Deb Schimpf — are predicting the new investments will serve as a catalyst to attract more development to the neighborhood.

“This is a very large private investment in Hamilton Hill that we have worked very hard to make happen,” McCarthy said in a news release. “DePaul has a great track record, and we believe that this new $14 million investment will continue the redevelopment that is occurring due to the focused efforts we are making to revitalize Schenectady’s neighborhoods.”

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DePaul Properties, Inc -- which is "a progressive, private not-for-profit organization

Quoted from DemocraticVoiceOfReason

Finally, the nayboobs cry crocodile tears over the many other projects in the city .. the nayboobs feign (fake) concern for the poor .. but then get upset when the city announces that a PRIVATE entity wants to invest $14 million building housing for seniors and low-income families.

Quoted from DemocraticVoiceOfReason

A goose could lay an egg made of pure gold and give it to the city --