#Mitchell lama housing kofi annan upgrade

With this loan, Inwood Tower can address major capital repairs needed for our nearly 60-year old building and comply with new environmental requirements and still maintain affordability for decades to come. Homes and Community Renewal continues the commitment of Mitchell-Lama housing to reduce the rent burden on families so that they are not using most of their income for housing costs.” Inwood Tower Cooperative Board President Eileen King said, “The cooperators of Inwood Tower recognize that through the Mitchell-Lama Program, we enjoy fair housing that is integrated and diverse. With over 22,000 rental and cooperative Mitchell-Lama homes preserved over the last five years, we have extended the program’s promise to thousands of current and future residents across the state and helped to keep New York’s communities accessible for hard working families and seniors.” The state’s Mitchell-Lama program was designed to help low- and moderate-income New Yorkers own or rent a quality home in the neighborhood of their choice. HCR Commissioner RuthAnne Visnauskas said, “We are proud of this agreement to preserve Inwood Tower’s 190 apartments as affordable homeownership opportunities, while also upgrading the building’s aging systems and improving energy efficiency. The repairs also include several energy-efficiency measures that will reduce energy costs for the cooperative.

The scope of improvements will include elevator repairs, roof replacement, gas line repairs, replacement of boilers and associated piping, radiator replacement, and facade and brick repointing. In addition to preserving Inwood Tower’s 190 affordable homes through 2052, the agreement will pave the way for critical capital improvements. has committed to remain in the Mitchell-Lama program for at least 30 years. As part of the agreement, Inwood Tower Inc. Inwood Tower is a state-supervised Mitchell-Lama housing cooperative constructed in 1963 to provide affordable homeownership opportunities to low- and moderate-income New Yorkers.

#Mitchell lama housing kofi annan upgrade

“As New York State takes action to combat the housing crisis in the wake of the pandemic, this agreement protects critical support for an affordable housing community in an increasingly unaffordable neighborhood,” Governor Hochul said. “New York will continue to preserve and upgrade affordable housing developments across the State in order to ensure that they remain a safe and affordable housing resource for the next generation of New Yorkers.” As part of the agreement, New York State Homes and Community Renewal will provide a $7.6 million subsidy loan that will enable the cooperative to undertake critical capital repairs. With today’s announcement, the State has now kept more than 22,000 Mitchell-Lama apartments affordable for low- and moderate-income New Yorkers as part of its five-year Housing Plan. Governor Kathy Hochul today announced an agreement to preserve affordability over the next 30 years for 190 households at Inwood Tower, a Mitchell-Lama cooperative development in the Washington Heights neighborhood of Manhattan.

Inwood Tower Will be Kept Affordable for 190 Households Through 2052, Major Capital Upgrades Will Improve Safety and Energy Efficiency

State Housing Plan Has Protected More Than 22,000 Mitchell-Lama Homes