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Homes and Community Renewal

HCR Joins CPC and Rockland Housing Action Coalition to Celebrate Completion of Hyenga Lake Senior Housing in Spring Valley

Cutting the ribbon at Hyenga Lake Senior Apartments.

HCR joined the Community Preservation Corporation (CPC) and Rockland Housing Action Coalition, along with county and local officials recently to celebrate the completion of Hyenga Lake Senior Housing. The once rundown bungalow colony in Spring Valley has been transformed into an attractive, high-quality 66-unit affordable apartment building for senior citizens.

Greg Watson, HCR's Assistant Commissioner for the New York Regional Office was on hand for the ribbon-cutting, along with Doug Olcott, Senior Vice President and Director of Lending for CPC's Hudson Valley Region; Alex Gromack, Clarkstown Town Supervisor; C. Scott Vanderhoef, Rockland County Executive; Assemblyman Kenneth Zebrowski; Honorable Harriet D. Cornell, Chairwoman of the Rockland County Legislature; Mary Ellen Rogulski, Senior Vice President and Senior Lending Officer, Orange County Trust; Gerri Levy, Executive Director, Rockland Housing Action Coalition, Inc.; Howard Hellman, Chairman, All Bright Electric.

Darryl C. Towns, Commissioner/CEO of HCR said, "HCR is proud to have worked with CPC and other public and private partners to improve the quality of life for area seniors. By leveraging multiple HCR programs and coordinating with community partners, we are able to offer high quality affordable housing that has a host of amenities and is convenient to the services and recreation seniors want and need."

All of the apartments are one-bedroom units with the exception of one two-bedroom unit for use by the building superintendent. The complex includes cable and internet service and energy efficient building materials such as energy star appliances, energy efficient lighting and water-conserving fixtures.

The building is situated in a 12.4-acre park-like setting with walking trails, sitting areas, flower gardens and a small pond. The complex also includes a community room with a kitchen, laundry facilities and storage area for tenants. Hyenga Lake Senior Housing is within walking distance to area shopping, restaurants and public transportation and is in close proximity to a supermarket, a health care facility, pharmacy and retail stores.

HCR provided a $2.4 million grant from the New York State Housing Trust Fund. The project was co-developed by the Rockland Housing Action Coalition and Howard Hellman and Vincent DeStaso. CPC provided a construction loan of $6,940,000 with Orange County Trust as the Participant and $10.5 million in tax credit equity from Raymond James Financial. The investor in the Tax Credits is TD Bank. CPC also provided permanent financing through the NY State Pension Fund, of which $2,750,000 will be insured by SONYMA.

Last Updated: 11/01/2011