CORINTH — Hudson River Community Credit Union (HRCCU) and RISE Housing and Support Services are pleased to announce they have been awarded a $1 million grant from the Federal Home Loan Bank of New York (FHLBNY).
The grant will be allocated to the construction of The Riverview Apartments at Corinth project, which will provide 60 affordable and supportive housing apartments for low-income families and seniors.
The grant follows a $7.3 million state grant the project received as part of Gov.Kathy Hochul’s affordable housing initiative in July 2022.
Launched in 2021, the Riverview Apartments at Corinth project is a product of an ongoing partnership between HRCCU and RISE and will provide 30 supportive housing apartments, 15 affordable senior housing apartments and 15 affordable community apartments. RISE will oversee the construction and operation of the building, while the three-acre parcel of land on which the apartment building will be constructed was donated by HRCCU.
Construction on the building is expected to break ground in January 2023. The total cost of the project is projected to be $21 million.
