$22 Million Silver Gardens Development in Town of Lloyd to Include 29 Apartments for Seniors Experiencing Homelessness

April 18, 2024

Governor Kathy Hochul today announced the start of construction on Silver Gardens, a 57-unit affordable housing development for seniors in the Ulster County town of Lloyd. The $22 million development will include 29 apartments set aside for seniors experiencing homelessness, and access to important social services and public transportation.

“Safe, affordable housing is not a privilege, it’s a right. Yet far too many older New Yorkers struggle to find housing in the communities they call home,” Governor Hochul said. “Silver Gardens creates opportunities for more seniors in the Hudson Valley to age comfortably in a modern, sustainable and healthy home with direct access to the services they need to thrive.”

In the last five years, New York State Homes and Community Renewal has created or preserved more than 600 affordable homes in Ulster County. Silver Gardens continues this effort and is part of Governor Hochul’s $25 billion comprehensive Housing Plan that will create or preserve 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.

Silver Gardens will consist of a single three-story building with 57 one-bedroom apartments. All apartments are reserved for New Yorkers aged 62 or older earning at or below 60 percent of the Area Median Income. Residents of Silver Gardens will have direct access to the adjacent Franny Reese State Park and its trails via a pedestrian walkway.

Twenty-nine apartments will be reserved for seniors experiencing homelessness who will have access to supportive services and rental subsidies through an Empire State Supportive Housing Initiative award administered by the New York State Department of Health. Services will include self-advocacy support, socialization activities, educational training and transportation coordination with public transit or medical transportation providers. RUPCO is the supportive service provider.

The all-electric building will utilize geothermal energy systems and Energy Star appliances. The development is expected to achieve Enterprise Green Communities Plus and United States Department of Energy Zero Energy Ready Home certifications.

Amenities will include a community room with an outdoor patio, a laundry room, computer lab, bike room, and access to free high-speed broadband throughout the building. The project is less than a quarter mile from Bridgeview Plaza shopping center

The developer is RUPCO with Girondini LLC as co-developer.

State financing for the $22 million development includes $10.5 million in Federal Low-Income Housing Tax Credits and $7.1 million in subsidy from New York State Homes and Community Renewal. Clean Energy Initiative funding of $427,000 was provided through a partnership with the New York State Energy Research and Development Authority for improved decarbonization scopes of work. The Community Preservation Corporation is providing $1.4 million in permanent financing. Ulster County is providing $600,000 in American Rescue Plan Act funds.

Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The housing crisis impacts New Yorkers of every age and the work beginning today marks a significant milestone in addressing in the shortage of affordable homes in Ulster County. With 57 apartments and a highly-sustainable design, Silver Gardens exemplifies Governor Hochul’s resolve to ensure every New Yorker has the opportunity to live in quality housing that they can afford. Thank you to RUPCO and all our partners for making this development a reality.”

President and CEO NYSERDA President and CEO NYSERDA said, “Providing safe, comfortable and affordable housing that includes energy efficient technologies is at the core of Governor Hochul’s vision for an equitable clean energy transition for New Yorkers. As we continue tackling the effects of a changing climate, NYSERDA looks forward to working with communities and interested parties to bring more projects like Silver Gardens to fruition, helping to foster cleaner, greener communities across the state.”

New York State Health Commissioner Dr. James McDonald said, “The opportunity for older New Yorkers to live in a safe, affordable and comfortable community is an important social determinant of health and component of good public health. I thank Governor Hochul for investing in housing that will enable seniors who are experiencing homelessness or living with a chronic illness to thrive in their own homes with access to crucial supportive services as well as nearby parks that will help encourage active, healthy living.”

Senate Majority Leader Charles Schumer said, “Every Ulster County resident deserves a safe and secure place to call home, and I am proud to see this substantial investment in affordable housing for seniors in the Hudson Valley. By using $10.5 million in federal Low Income Tax Credits, which I worked hard to secure, to create 57 new, affordable accessible homes for seniors in Ulster, including supportive resources and housing for homeless seniors, we are giving our vulnerable populations the tools they need for an improved quality-of-life. I applaud Governor Hochul’s commitment to increasing access to affordable housing in Ulster and New York State, and I will keep fighting to create a more affordable and livable New York for all.”

Representative Pat Ryan said, “I’m fighting every single day to address the housing affordability crisis, which is impacting so many families across the Hudson Valley, especially our seniors. The Silver Gardens development is a project I’ve pushed for going back to my time as County Executive – I’m so proud to have helped secure the funds to bring this crucial development forward. None of this would have been possible without the great work of RUPCO and Governor Hochul’s support. Together, we’ll keep working to lower the cost of living, ensure every Hudson Valley family has affordable housing, and make this a region we can all be proud to call home.”

State Senator Michelle Hinchey said, “Silver Gardens is coming to Lloyd at a time when the need for affordable senior housing has never been higher, and we’re thrilled that this new development, with wrap-around services, green energy systems, and direct access to Franny Reese State Park, is finally breaking ground. Everyone in our community deserves a safe, secure home, and I’m proud to have assisted RUPCO in bringing this supportive housing development to Ulster County.”

Assemblymember Jonathan Jacobson said, “The lack of affordable housing affects every municipality that I represent. This is why I am so happy to see the investment by New York State, in partnership with local developers, in producing 57 affordable homes.”

Ulster County Executive Jen Metzger said, “In the midst of a housing crisis, with seniors facing long waiting lists for housing they can afford, we couldn’t be more thrilled to see the Silver Gardens development break ground. This is, moreover, precisely the kind of housing we need most, with wrap-around services for some of our most vulnerable seniors, and we greatly appreciate the support of NYS Homes and Community Renewal for this worthy project. For the County’s part, we are happy to support this project with $500,000 in federal ARPA funds for energy-efficient geothermal heating and cooling, which is great for the planet and great for the health and comfort of our seniors.”

Lloyd Town Supervisor David Plavchak said, “We are pleased to see senior housing investments being made in the Town of Lloyd.”

RUPCO CEO Kevin O’Connor said, “Home Matters and Silver Gardens address our community’s urgent need for affordable, supportive senior housing. With its blend of affordability and essential services set in a prime location, this project perfectly embodies RUPCO’s vision for strong, vibrant, and inclusive communities with a home and opportunity for everyone. We extend our heartfelt appreciation to our partners and funders for helping bring Silver Gardens one step closer to becoming a reality!”

Principal of Girondini Richard Gerentine said, “Silver Gardens signifies more than just affordable housing; it embodies a beacon of hope and dignity for our seniors. Beyond shelter, the site’s prime location and supportive services will help create a nurturing community where residents can truly thrive. We’re thrilled to collaborate with RUPCO to bring this vital project to life, ensuring our seniors have the supportive and enriching environment they deserve.”

Senior Vice President at the Community Preservation Corporation Mary Paden said, “As a mission-driven nonprofit lender, our goal is to create a positive impact in communities by investing in stable, affordable, and sustainable housing. Silver Gardens will be a resource of affordable, supportive housing for our senior citizens, and its deeply energy-efficient design ensures its physical and financial sustainability will serve its tenants and the Lloyd community well into the future. My thanks to our partners at RUPCO and Girondini LLC, to Governor Hochul and her teams at HCR and NYSERDA, to Ulster County, and to all of the project’s supporters for their commitment to more sustainable, affordable and equitable communities.”

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About RUPCO
RUPCO creates homes, supports people, and improves communities across a broad spectrum of community development solutions, including housing, historic preservation, and neighborhood revitalization in the Hudson Valley. RUPCO creates and maintains quality, sustainable housing and rental opportunities, inspires understanding and acceptance of affordable housing initiatives, and champions pathways to opportunity. For more information, visit www.rupco.org

About NYSHCR
New York State Homes and Community Renewal (NYSHCR) preserves housing affordability and works with private, public, and nonprofit partners to create inclusive, safe, “green,” and resilient places to live in New York State. HCR is charged with carrying out the Governor’s $1 billion HOUSE NY plan, leveraging New York’s federal and state community development resources, and creating affordable housing opportunities statewide. HCR programs provide financing to create and preserve multifamily housing; improve housing conditions, ensure accessibility, and save energy; provide bonding authority and other resources to facilitate local public improvements and job creation; and help thousands of low- and moderate-income New Yorkers purchase a home. NYS HCR also funds services for low-to-middle-income households, and vulnerable populations including veterans, seniors, homeless families, individuals with HIV/AIDS, and at-risk youth.