CORINTH — Plans to build a 60 multi-family affordable housing complex in Corinth are moving forward following the state’s announcement last week that it has awarded $7.3 million to RISE Housing and Support Services toward the construction of the building.
The Riverview at Corinth Affordable Housing Project, which will be located on Pine Street in the village of Corinth, will provide 30 supportive housing apartments, 15 affordable senior housing apartments and 15 affordable community apartments. Bonacio Construction, Inc. will oversee the construction of the apartment building which is expected to break ground by the spring of 2023. The total cost of the project is projected to be $21 million.
In addition to providing affordable housing to Corinth residents, the project will also create eight jobs for the community including two case workers and one registered nurse to help provide support for residents. The project is projected to bring in an additional $1.4 million in annual revenue to the village.
The project is joint effort of RISE and Corinth-based Hudson River Community Credit Union (HRCCU)whose Board of Directors determined three years ago that the single greatest challenge for many of its members living in the community is their ability to afford quality housing. HRCCU found a partner in RISE to build and operate the 60-unit apartment building, which will consist of both 1 and 2 bedroom apartments for Corinth seniors and residents. The three-acre parcel of land on which the apartment building will be constructed was donated by HRCCU.
The funds awarded to the project are part of a $104 million in state grants announced by Gov. Kathy Hochul to create and preserve 864 affordable housing units across New York State.