BREAKING GROUND
Affordable housing project set for Washington Street
SARATOGA SPRINGS, N.Y. » Officials broke ground Wednesday on an affordable housing project near the Saratoga Springs Amtrak Station.
The $34 million development will create 157 affordable homes next to the U.S. Post Office on Route 29.
The project, called Intrada, includes four buildings. The work should be completed in 18 months, officials aid.
Units will be available to individuals and families that earn 50 to 80 percent of the area median income. Rent for a one bedroom apartment ranges from $679 to $1,068 a month, two-bedroom apartments range from $821 to $1,287 a month, and three-bedroom apartments range from $954 to $1,492 a month.
Additionally, 10 units will be reserved for those in foster care, as Vecino Group — which is doing the project — has partnered with CAPTAIN Community Human Services.
“Saratoga’s need for affordable housing was substantial,” Rick Manzardo, president of Vecino Group in a statement. “This development will go a long way towards meeting the need while also preventing homelessness for youth exiting the foster care system. It’s an important step for the community and the state of New
York.”
Intrada Saratoga Springs will address a growing need for workforce housing in Saratoga Springs, as identified by the city’s Comprehensive Plan. The rapidly growing city is considered a high opportunity area due to its high-performing school district. The development, located at 249 Washington St., is close to the Amtrak Station, local bus stops and other amenities.
The development will consist of three four-story buildings with 40 apartments each and one threestory building with 38 apartments. The fourth building will also include 6,000 square feet of communal space. There will be 96 one-bedroom units, 44 two-bedroom units, and 18 three-bedroom units. Building amenities include washer/dryer in all apartments, a fitness center, a community room with a kitchen, a study room and a conference room.
Intrada Saratoga Springs’s design will incorporate energy-efficient design features that will result in 15 percent less energy usage than current energy code. Energy-efficient features include Energy Star appliances and lighting, motion-controlled lighting in common spaces, and low-emitting produces to support greater indoor air quality.
New York State’s investment in Intrada Saratoga Springs comes through New York State Homes and Community Renewal programs, including $19 million in tax exempt bonds, $11.5 million in state and federal New Construction Capital program, $2.3 million from HCR’s Middle Income Housing Program, and low income housing tax credits that will generate more than $7.2 million in equity for the project.
“Intrada Saratoga Springs will provide about 370 residents the opportunity to live in safe, affordable homes in a growing area with access to quality schools. When rising housing costs burden families, the local economy suffers,” said New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas in a statement. “Thanks to Governor Cuomo’s investment in affordable housing, we are creating a more inclusive community in Saratoga Springs and ensuring that all New Yorkers have an affordable place to call home.”
Mayor Meg Kelly attended Wednesday’s ground breaking on behalf of the city.
“For many years, the city has worked to increase its affordable housing resources to bring a diversity of options to a greater range of young persons and families. This project reinforces the success that comes from a true partnership,” said Kelly in a statement. “It is made possible through the collaborative financial efforts of the development sponsors with assistance from New York State and the City of Saratoga Springs.”