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Homes and Community Renewal

New York State, Living Resources, and Partners Celebrate Opening of $16.4 Million Lion Heart Residences in Cohoes

72 New Affordable Apartments for Area Residents, Including Supportive Services for Tenants with Disabilities

Albany, New York, May 24, 2016—New York State Homes and Community Renewal (HCR) and the New York State Office for People With Developmental Disabilities (OPWDD) joined Living Resources, Regan Development, The Community Preservation Corporation, elected officials, and partners to announce the opening of Lion Heart Residences in Cohoes, a new $16.4 million 72-unit development that offers affordable homes for working families, as well as apartments with support services for people with developmental disabilities.

The apartments in Lion Heart Residences are among the thousands of units that form the foundation of Governor Andrew M. Cuomo’s new, $10 billion House New York 2020 program to create or preserve 100,000 affordable units over the next five years.

James S. Rubin, Commissioner of New York State Homes and Community Renewal, said, “Local economies are improving as a result of Governor Andrew M. Cuomo’s policies, and as jobs are created and the workforce grows, it is crucial to provide expanded affordable housing opportunities. Lion Heart Residences helps to fill this need in Cohoes with state-of-the-art apartments that also address one of the Governor’s priority initiatives—expanding access to housing with support services so that people with disabilities can live independently within the community. Thank you to all of our partners who made Lion Heart Residences possible.”

"As we continue our efforts to transform OPWDD's service system away from institutional care and towards community-based living and supports, it is evident that more and more people with developmental disabilities are enjoying a greater quality of life,” said Kerry A. Delaney, OPWDD Acting Commissioner. “Living Resources’ Lion Heart Residences in Cohoes will provide people with developmental disabilities the opportunity to live in the home of their choice with the people they want to live with, be closer to their families, take control of their own daily activities and participate fully in their communities.”

“Lion Heart Residences increases access to affordable housing for individuals and their families, and will help people with disabilities live and succeed in their communities,” said New York State Senator Neil Breslin. “Thank you to Governor Cuomo and all of the organizations whose commitment to and hard work brought this wonderful new addition to the Cohoes community.”

Assemblyman John T. McDonald III, said “It is a pleasure to support the Lion Heart Residences community in my hometown of Cohoes.  Larry Reagan and his team have done a wonderful job building and bringing a much needed housing option to the Capital Region and the partnership with Living Resources is the icing on the cake.  I am honored to work with two great organizations and glad that Lion Heart calls Cohoes home.”

Albany County Executive Daniel P. McCoy said, “Lion Heart Residences is providing quality, affordable homes for Albany County families and people with disabilities. I want to thank Governor Cuomo for investing in developments like this that bring government and partners together to improve quality of life and strengthen communities. Congratulations to everyone who will call Lion Heart Residences home.”
City of Cohoes Mayor, Shawn M. Morse said, "Affordable housing is a vital asset to our community.  I look forward to working with all partners of Lion Heart Residences to ensure comfortable and safe housing for all."

Developed and owned by Regan Development in coordination with Living Resources, the $16.4 million development features 57 affordable one- , two- and three-bedroom apartments for low-income households, and 15 fully accessible apartments with support services for residents with developmental disabilities. Living Resources will provide supportive services including on-site job training and placement for the residents with disabilities, as well as training for caregivers. Rents plus utilities range from $688 to $1,083 a month, and are affordable to households with incomes at or below 60% of area median income.

“I am excited to see this project come to fruition and would like to express our gratitude to all those involved who made the Lion Heart Residences possible,” said Living Resources CEO Fred Erlich. "This type of partnership speaks to our mission of empowerment and the work we do by ensuring individuals with disabilities are able to grow and thrive in a safe and secure environment.”

“For those most in need of an affordable and stable home, every groundbreaking holds the promise of a better future. The completion of the Lion Heart Residences is the fulfillment of that promise, and exemplifies the CPC mission of investing in projects that strengthen communities and serve those most in need.” said Doug Olcott, CPC Senior Vice President & Regional Director. “In addition to bringing new affordable workforce housing to the Cohoes community, Lion Heart will provide a safe and supportive environment where New Yorkers with developmental disabilities can live with dignity and reach their potential. I thank Governor Cuomo for his Administration’s commitment to expanding affordable and supportive housing throughout the state. I also thank our partners at Regan Development Corporation, HCR, OPWDD, First Sterling Financial, and Living Resources for their collaboration on this important project.”

The development includes a centrally located community building and is within easy reach of public transportation, shopping and other conveniences. Lion Heart Residences was designed to meet Green Building and Energy Efficiency Initiatives.

The Lion Heart Residences was built in partnership with New York State Homes and Community Renewal, New York State Office for People With Developmental Disabilities (OPWDD), Regan Development, The Community Preservation Corporation (CPC), and First Sterling Financial. HCR’s $3.5 million investment of Low Income Housing Tax Credits and Housing Trust Fund dollars leveraged a $9.6 million construction loan and $3.1 million permanent loan from CPC. OPWDD invested $1.7 million in the development.

About New York State Homes and Community Renewal
New York State Homes and Community Renewal (HCR) is responsible for carrying out Governor Andrew M. Cuomo’s $10 billion HOUSE NY 2020 plan to finance 100,000 affordable housing units over five years and leading the Governor’s $10 billion Homelessness Action Plan to create 20,000 new supportive housing units over the next 15 years. HCR agencies and programs Build NY, creating new affordable housing; Preserve NY: extending affordability of existing units statewide; Welcome Home NY:  increasing access to affordable homeownership for all New Yorkers, including special programs for veterans; provide Opportunity NY:  promoting and protecting tenant rights and expanding housing opportunities to ensure State investments benefit all New Yorkers; and Revitalize NY: investing in downtowns and communities across the State. For more information on HCR programs and agencies, please visit http://www.nyshcr.org/ 

About the New York State Office for People With Developmental Disabilities
The New York State Office for People With Developmental Disabilities (OPWDD) provides services for more than 130,000 New Yorkers with developmental disabilities, including; intellectual disabilities, cerebral palsy, Down syndrome, autism spectrum disorders, and other neurological impairments.  Services are coordinated directly through the state and through a network of approximately 750 nonprofit service providers, with about 80 percent of services provided by not-for-profit provider agencies and 20 percent provided by state-run services. OPWDD strives to assist people with developmental disabilities to enjoy meaningful relationships, experience personal health and growth, live in the home of their choice and fully participate in their communities.  Compassion, dignity, diversity, excellence and honesty are the values we embrace as we pursue our mission.  OPWDD also provides leadership and excellence in the field of research and in developing public policy in the field of developmental disabilities.

About Living Resources
Living Resources is an organization dedicated to providing life-enhancing services to more than 1,200 individuals with developmental disabilities and acquired brain injuries.  Motivated to create opportunities for full community integration for all persons, caring professionals and committed parents opened the first program - a residence - in Schenectady in 1974. Since then, Living Resources has steadily expanded its programming to include clinical services, day habilitation, employment services, fine arts classes, hearing and interpreting services, after school programming, service coordination and, in 2005, the College Experience Program in collaboration with The College of Saint Rose. 

About The Community Preservation Corporation:
Established in 1974, the Community Preservation Corporation (CPC) is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. To date, CPC has leveraged approximately $9.1 billion in private and public investment to finance more than 164,600 units of affordable housing. CPC’s work with their partners has helped revitalize countless neighborhoods throughout New York, and provided quality housing for families, senior citizens, and individuals with disabilities. Follow us at communityp.com, and on Facebook, Twitter  and LinkedIn.