Completion of Affordable Housing Development in Albany

Governor Kathy Hochul today announced the completion of 35 Broadway, a 67-unit affordable housing development in the village of Menands, Albany County. More than half of the apartments at the $26 million development are reserved for veterans experiencing homelessness and in need of support services. Under Governor Hochul’s leadership, New York State Homes and Community Renewal has financed more than 4,700 affordable homes in the Capital Region, including nearly 1,000 in Albany County. 35 Broadway continues this effort and complements Governor Hochul’s $25 billion five-year housing plan, which is on track to create or preserve 100,000 affordable homes statewide.

“Our investments are creating more homes across the state and ensuring our most vulnerable populations, especially those who have served our country, have the opportunity to find an affordable, secure place to live,” Governor Hochul said. “The new 35 Broadway development is a perfect example of our comprehensive approach to addressing the housing crisis in New York. We are bringing new homes to the Capital Region and providing veterans experiencing homelessness access to the services needed to stabilize their lives.”

Apartments at 35 Broadway are available to households earning up to 60 percent of the Area Median Income. There are 35 supportive apartments reserved for veterans experiencing homelessness eligible for services. Support services provided on-site include case management, medical care coordination, mental health and addiction service coordination, legal services, workforce placement, and financial education.

The fully-electric building features electric heat pumps for heating and cooling, energy recovery ventilation for improved indoor air quality, energy-efficient appliances, and electric vehicle charging stations. There are landscaped seating areas, a community gardening area, a contemplation garden, and an on-site columbarium to honorably house the remains of resident veterans who pass on without family.

Beacon Communities and Soldier On are co-developers, and Soldier On is providing the support services.

35 Broadway is supported by HCR’s Federal and State Low-Income Housing Tax Credits programs that generated $15 million in equity, $5 million from its Supportive Housing Opportunity Program, and $368,500 from its Clean Energy Initiative program, created partnership with the New York State Energy Research and Development Authority (NYSERDA). The Community Preservation Corporation is providing $3.7 million in permanent financing. The project is also supported by the federal 45L New Energy Efficient Home Credit program which generated $61,600 in equity. Additional funding includes $55,000 from NYSERDA’s Clean Heat Rebate program and $36,000 from its EV Make-Ready Rebate program. Operating funding for the supportive apartments is provided by the Empire State Supportive Housing Initiative administered by the New York State Office of Temporary and Disability Assistance.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “With the opening of 35 Broadway, we are delivering much-needed affordable, modern, and energy-efficient homes to Albany County. Not only is our $26 million investment creating 67 new apartments, but this development will give veterans experiencing homelessness access to on-site services that can keep them securely housed and living independently. We thank Governor Hochul for her commitment to building more affordable housing across the state, and appreciate the work of our development partners at Beacon Communities and Soldier On for making this project a reality.”

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “New York’s commitment to creating a clean and modern built environment improves the quality of life for residents and future generations, while helping us progress toward a clean energy economy. The completion of 35 Broadway demonstrates how the adoption of low-emission building solutions and energy efficient features, such as electric heat pumps and electric vehicle charging stations, can benefit our diverse neighborhoods and populations, including New York’s veteran community.”

New York State Office of Temporary and Disability Assistance Commissioner Barbara C. Guinn said, “We are grateful to Governor Hochul for her continued support of the Empire State Supportive Housing Initiative and her unwavering commitment to supporting the well-being of New York’s veterans. 35 Broadway will provide veterans who have experienced homelessness with safe, affordable apartments they can call home, as well as onsite access to the essential services they need to live stable, independent lives in the community. Thank you to Beacon Communities Services, Soldier On, and all the state and local partners who supported the development of this much-needed project.”

New York State Department of Veterans’ Services Commissioner Viviana M. DeCohen said, “A safe, stable home is the foundation for healing, dignity, and hope. This development at 35 Broadway is more than housing -- it is a promise kept to Veterans who have served with honor and deserve nothing less in return. We are grateful to Governor Hochul for her continued focus on ensuring that access to affordable housing remains an integral part of our state’s commitment to Veterans and their families.”

Senator Charles Schumer said, “Our veterans who have sacrificed so much for us in service to this country should never experience homelessness. Every veteran and every family in the Capital Region deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help build 67 new homes in the village of Menands. These brand new homes, some of which are reserved for veterans experiencing homelessness, will be all-electric and offer the community support services and new outdoor spaces, including a gardening area. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul’s work increasing access to affordable housing in the Capital Region and across New York, and I will continue working to deliver federal resources to ensure that every New Yorker has a roof over their heads.”

Albany County Executive Daniel P. McCoy said, “I would like to thank Governor Hochul and New York State Homes and Community Renewal for their continued dedication to our Veterans in Albany County. Providing stable, affordable housing is one of the most meaningful ways we can honor their service. Today marks an important step in ensuring that every Veteran has a safe place to call home.”

Albany County Sheriff Craig Apple said, “The combination of deeply affordable housing and services like addiction and mental health counseling is a proven formula for ending chronic homelessness, and that’s something we need more of – locally, as well as across our state and nation – in the face of a mounting homelessness crisis. I am proud to have the opportunity to work with Soldier On to help those who served our country but have fallen on hard times. Veterans have more than earned the kind of support and security this important project will provide.”

Menands Mayor Brian Marsh said, “This building represents more than walls, windows, and doors—it symbolizes community, stability, and new beginnings. Menands stands proud as a partner with this organization to create spaces where individuals can thrive, find purpose, and feel supported. Welcome to Menands, Welcome Home.”

Beacon Communities CEO Dara Kovel said, “We are thrilled to celebrate the completion of this significant affordable housing community in the Capital Region alongside our partners at Soldier On and the state and local officials and funders who made it a reality. Supportive housing is a proven way to end chronic homelessness. Now these veterans who so bravely served our country, as well as other low-income households, will have a safe, stable place to call home with services they need to rebuild their lives.”

Solider On CEO Bruce Buckley said, “Soldier On is thrilled to have completed and occupied 35 units of supportive housing for formerly homeless veterans at 35 Broadway in Menands. This 67-unit affordable housing property, developed with our partner, Beacon Communities, illustrates how government, nonprofit, and for-profit entities can better combine their strengths to end homelessness. I extend my heartful thanks to the state of New York, HCR, ESSHI, Albany County, the Village of Menands, and Beacon Communities for their support and dedication in making this possible. Thirty-five formerly homeless veterans now have a place they can call home – a home they not only deserve but have earned through their sacrifices. Most importantly, they are now surrounded by a family of support that will ensure they have the care, community, and resources they need to thrive.”

The Community Preservation Corporation Senior Vice President Jaime Tuozzolo said, “The completion of 35 Broadway is a powerful reminder of what can be accomplished when public, private, and nonprofit partners come together with a shared commitment to housing and human dignity. This development not only brings much-needed affordable homes to Menands—it also creates a stable and supportive environment for our veterans who deserve the strongest possible foundation for the next chapter of their lives. We’re proud to have played a role in helping to finance this important development, and we thank our friends at Beacon Communities, HCR, NYSERDA, and SoldierOn for their partnership and dedication.”

Governor Hochul’s Housing Agenda

Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY 2025 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives, capital funding, and new protections for renters and homeowners. Building on this commitment, the FY 2026 Enacted Budget included more than $1.5 billion in new state funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. In addition, as part of the FY 2023 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. Nearly 60,000 homes have been created or preserved to date.

The FY 2025 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro-Housing certification is now a requirement for localities to access up to $750 million in discretionary funding. Currently, more than 300 communities have been certified.