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Homes and Community Renewal

NYS Homes and Community Renewal and Housing Visions Announce Start of Construction on $15 Million Affordable Housing Development in Elmira

Investment Complements “Southern Tier Soaring” - The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy

Elmira, NY – NYS Homes and Community Renewal and Housing Visions today announced the beginning of construction on a $15.1 million affordable housing development in the South Main Street Neighborhood of Elmira. The development, known as Chemung Crossing, will be a mixed-use project that will add 45 new affordable housing units and 3,800 square feet of commercial space to the community.
The project includes the new construction of six buildings and the rehabilitation of two historic buildings in Elmira’s Business Improvement District on South Main Street. The development will transform several blighted and vacant lots along Harmon Street, West Henry Street, and South Main Street.

HCR Commissioner RuthAnne Visnauskas said, “Chemung Crossing complements the Governor’s strategic investments in building a more vibrant downtown Elmira and keeping the Southern Tier Region soaring by rejuvenating historic buildings, reimagining underutilized land, and providing quality housing for 45 families.”

The 45 new affordable units will be divided among 6 newly created buildings and 2 rehabilitated historic buildings. Units available include: 1 studio, 33 one-bedroom units, 1 two-bedroom unit, 8 three-bedroom units, and 2 four-bedroom units. Housing is reserved for those earning between 30-60% of the Area Median Income with a few units being reserved for those with physical disabilities/Traumatic Brain Injury (TBI). Rents start at $450 for the one-bedroom units.

The units will feature EnergySTAR appliances, historic character and unique architectural details, LEED design and construction, HVAC systems in each unit, cable hook-up, private bulk storage, off-street parking, and access to laundry and community room facilities.
The construction of Chemung Crossing included $9.3 million in Low Income Housing Tax Credits from New York State Homes and Community Renewal. The project also received $1.6 million from Housing Trust Fund Corp., $1.4 million from HOME funds, $660,000 from the Community Investment Fund, $1.3 million in federal and historic tax credit equity, and $451,000 in developer equity.

In addition, the development was awarded $290,000 from Elmira HOME funds, $50,000 from the New York Main Street program, and another $20,000 from Elmira’s Community Development Block Grant.

Elmira was the 2016 winner of the Governor’s $10 million Downtown Revitalization Initiative (DRI) in the Southern Tier, designed to help turn local neighborhoods into vibrant communities. The Elmira Crossing development is in line with Elmira’s DRI Plan and the city’s Three-Five year Strategic Plan, both of which call for mixed-use, multi-story buildings with upper floor housing and ground floors with retail and services.

Senator Tom O'Mara said, “We are grateful for the state's ongoing investment to assist the city of Elmira and Housing Visions develop affordable housing for families and residents while, at the same time, move forward on additional, critical downtown revitalization and neighborhood development initiatives. Chemung Crossing will make a difference in many ways and we're excited that the project is getting underway.”

Elmira Mayor Daniel Mandel said, ““I am very pleased to see the new construction of housing in the City of Elmira. This project is a great asset to our City and to our residents. Tearing down blight and building affordable and fantastic new housing for our residents will improve the quality life for our residents. Many thanks go out to New York State Homes and Community Renewal for supporting this endeavor. Their tireless efforts in conjunction with Chemung Crossings and Jennifer Miller from our Community Development Department has made this project become a reality. I give many thanks to Governor Cuomo for his ongoing support of our City in our efforts in the revitalization of neighborhoods and the downtown.”

About Housing Visions
Housing Visions was formed as a nonprofit development, construction and property management company in 1990 designed to rehabilitate and stabilize a declining neighborhood on the east side of Syracuse. Since then, its work has expanded to 14 cities in upstate New York and Pennsylvania where more than 1,400 units of affordable housing and over $300 million in community investment have improved countless lives and neighborhoods.

Accelerating Southern Tier Soaring

Today's announcement complements “Southern Tier Soaring the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $4.6 billion in the region since 2012 to lay for groundwork for the plan – attracting a talented workforce, growing business and driving innovation. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Binghamton, Johnson City and Corning as a destination in which to grow and invest. Now, the region is accelerating Southern Tier Soaring with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 10,200 new jobs. More information is available here.
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