2C — January 26 - February 8, 2018 — Economic Development — M id A tlantic
Real Estate Journal
www.marejournal.com
E conomic D evelopment
Affordable and supportive housing project in Downtown Nyack, NY RHAC, CPC, Nyack Point LP & Partners announce completion of $10M housing complex
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have partnered with New York State, County of Rockland, Fed- eral Home Loan Bank, Commu- nity Preservation Corporation and all of our other funders to provide affordable housing in Rockland County. I would especially like to thank Mayor Laird-White and the Village of Nyack for all of their help and support. It was an honor to work in a Village that totally embraces the importance of providing affordable housing for individuals and families of modest means.” “Nyack Point speaks to the power of what can be accom- plished when we share a com-
mon mission and work together to address the unique needs of the community. In addition to high quality affordable hous- ing, Nyack Point provides an opportunity for New Yorkers with special needs to live with dignity in a safe and support- ive environment,” said Mary Paden , Senior vice president & senior mortgage officer at CPC. “My sincere thanks to Gerri Levy and her team at RHAC, Mayor Laird-White for her support, to HCR, and to Comptroller DiNapoli and our partners at the State’s Common Retirement Fund.” “Securing a stable, long-term
investment return for the more than one million members, re- tirees and beneficiaries of the state pension fund is my prior- ity as trustee. Our partnership with the Community Preserva- tion Corporation is a proven win-win that provides solid in- vestment opportunities, while helping improve housing and revitalize communities around New York. We’re pleased to be part of this latest initiative in Nyack,” said New York State Comptroller Thomas P. Di- Napoli, trustee of the New York state pension fund. HCR Commissioner Ruth- Anne Visnauskas said, “HCR is pleased to bring 33 afford- able and supportive homes to downtown Nyack. Nyack Point Apartments delivers on Governor Cuomo’s commitment to creating affordable housing opportunities in New York’s urban centers and to provide resources to help residents with special needs live indepen- dently. This development is fos- tering a thriving and healthy community for all.” “I am pleased that the Coun- ty partnered with the Rockland Housing Action Coalition to provide much needed afford- able housing in the Village of Nyack,” said Rockland County Executive Ed Day. “This new energy efficient building, con- sisting of 33 units, has enabled many hard working Rockland residents to rent modern apart- ments in a vibrant downtown area. Nyack Point Apartments is a true success story because it proves that public/private partnerships can work to cre- ate affordable housing. We need to continue this afford- able housing trend to ensure all Rockland residents have the opportunity to live in safe, quality homes.” Jennifer LairdWhite, Mayor of Nyack said, “This is ex- actly the kind of project that happens when you combine a municipal commitment to affordable housing and an organization like Rockland Housing Action Coalition. A gorgeous sustainable low in- come building with attractive apartments that has brought new residents into our diverse and desirable downtown, to live, to work and to support our businesses. We could not be more proud of what Gerri Levy and her team have cre- ated and we urge other mu- nicipalities to look to Nyack continued on page 14C
YACK, NY , The Com- munity Preserva- tion Corporation
(CPC), Rockland Housing Action Coalition (RHAC), Nyack Point Apartments LP, and partners including the County of Rockland, Federal Home Loan Bank, NYS Housing and Commu- nity Renewal, NYS Housing Trust Fund Corporation and First Sterling Financial an- nounced the completion of the construction of Nyack Point Apartments, consisting of 33 modern and affordable rental units in the Village of Nyack. Gerri Levy , the executive di-
Nyack Point Apartments
rector of the Rockland Housing Action Coalition is overjoyed about the success of the housing complex, “I am so grateful to
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