Tuesday, June 2, 2015

Sibley Building makeover gets $10.2 million from state

The redevelopment of the Sibley Building got a boost Tuesday to the tune of $10.2 million from the state as part of a project to build and preserve affordable housing.

Gov. Andrew Cuomo’s office announced the grant, awarded to Sibley Redevelopment Phase I LLC for the first phase in the multi-phase redevelopment of the historic building. The first phase includes building 72 units of mixed-income senior housing as well as elevators, a gym, game room and access to services and transportation.

The grant was part of more than $141 million in awards for affordable housing across the state. The low-interest loans, grant and tax credits are expected to leverage more than $469 million in grants, loans and private resources, the governor’s office noted. The funding will also go to build or preserve 2,160 affordable apartments statewide.

“Providing greater access to safe and affordable housing is a top priority of our administration and with this investment, we are helping more New Yorkers find a place to call home,” Cuomo said. “This is not only an investment in affordable housing projects, but a critical step towards developing safer communities, stronger local economies and brighter futures for all New Yorkers.”

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