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Homes and Community Renewal

New York State Homes and Community Renewal Announces $4.5 Million Award for Affordable Work Force, Transit-Oriented Housing Development in City of Beacon

73 Loft Apartments to Include Artists, Middle Income Families, Individuals

Part of HCR Program to Accelerate Construction of Shovel-Ready Projects

New York State Homes and Community Renewal (HCR) today announced a $4.5 million award to build West End Lofts, a 73-unit development in Beacon, close to retail, transportation, education and other urban amenities and services. The $21 million project will enhance the quality of life while complementing the city’s revitalization efforts.

RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal said, “Today’s announcement builds on Governor Cuomo’s commitment to ensure working families, seniors and people with disabilities have high-quality, affordable, safe places to call home. Maintaining and expanding our affordable housing stock creates inclusive communities that are essential to keep the Mid-Hudson economy growing.”

This development is an example of the housing solutions being created under Governor Andrew M. Cuomo’s leadership to expand access to affordable housing across New York State. This year, the Governor launched an unprecedented $20 billion five-year plan to provide affordable housing and combat homelessness by constructing and rehabilitating 100,000 units of affordable housing and 6,000 units of supportive housing – enough units to house the number of residents of the City of Buffalo.

The Kearney Realty & Development Group Inc. was awarded $4.5 million for the new construction of a mixed-income, transit-oriented development consisting of two buildings and 73 affordable loft apartments for middle income families and individuals, including 11 units for persons with physical disabilities. The work force family development is close to the Metro-North train station in Beacon. Amenities will include discounted internet, Energy Star appliances and air conditioning, outdoor green space and a computer lab.

Beacon Mayor Randy Casale said, “While Beacon has been re-inventing itself over the years, I do not want housing costs to get out of the reach of our hard-working residents, our growing artistic community and persons with disabilities. This investment is a vote of confidence in Beacon’s future. Kearney Realty & Development has a strong track record here and the invaluable assistance of Governor Cuomo’s team at HCR and its Early Awards program will enable West End Lofts to continue our community’s revitalization, while keeping it affordable.”

Kearney Realty & Development Group President Ken Kearney said, “We are excited and grateful to receive funding support through the innovative Early Awards program. This support will create a transit-oriented development for middle income families and individuals, as well as artists, persons with disabilities and members of the work force who otherwise would be priced out of the rental market in Beacon.” 

The West End Lofts project in Dutchess County is funded through HCR’s Early Awards program, which is designed to accelerate construction of shovel-ready developments. The projects must meet State housing goals, including the creation of mixed-income housing, proximity to public transportation, placement in strong school districts, or the provision of support services for formerly homeless individuals or those with special needs.