Housing developers and construction stakeholders in New York’s Mid-Hudson region are receiving additional public funding as the state directs $22 million toward three developments expected to advance nearly 830 homes. Empire State Development announced the final awards Sept. 8, completing a $150 million regional initiative focused on housing, infrastructure and community development.
The latest funding supports SoLo in Peekskill, Liberty Street Apartments in Newburgh and the Haverstraw Chair Factory in Haverstraw. All three projects were previously selected during the second round of the Mid-Hudson Momentum Fund.
The three awards are intended to help move projects closer to construction or completion while supporting downtown redevelopment, transit-oriented development and improved connections to existing infrastructure and waterfront areas.
The Mid-Hudson Momentum Fund has directed state resources toward municipalities that have expanded their housing supply or demonstrated support for additional residential development. The approach aligns with New York’s Pro-Housing Communities Program, which encourages local governments to facilitate housing production and reduce barriers to development.
For construction owners and developers, the additional capital can help close funding gaps on complex projects where residential construction is combined with commercial, transportation or infrastructure improvements.
With the final awards, the $150 million Momentum Fund has supported 26 projects across the Mid-Hudson region. Collectively, those projects are expected to create or unlock more than 11,000 homes, including nearly 4,000 affordable homes.
The scale of the program places housing production alongside broader regional development priorities. Projects receiving support are intended to strengthen downtown areas, expand housing opportunities and make use of existing infrastructure and strategically located sites.
The latest three developments add another nearly 830 homes to that pipeline, extending the program’s impact across Peekskill, Newburgh and Haverstraw.
The final round of funding illustrates how state-backed capital can support residential construction in markets where housing demand intersects with infrastructure and redevelopment needs. For developers and contractors, projects combining housing with transit, downtown or waterfront improvements can create opportunities for multifaceted construction work while requiring coordination across public agencies and private development teams.
The broader program also signals continued public-sector emphasis on increasing housing supply and directing investment toward communities prepared to accommodate growth. For construction stakeholders, access to such funding programs can influence project feasibility, procurement planning and the timing of future development opportunities.
Source; ESD.
