Weekly Real Estate News
Summary
True North Apartments has opened in Rochester with 70 affordable and supportive homes and an 8,700-square-foot community wellness clinic.
A $39 million affordable and supportive housing development has opened in Rochester, New York, adding 70 apartments and a community wellness clinic on formerly vacant sites.
True North Apartments includes two residential buildings at 536 Central Avenue and 141 Portland Avenue. Thirty-five apartments include supportive services for qualifying residents.
A third building contains an 8,700-square-foot outpatient wellness clinic operated by the Finger Lakes Area Counseling and Recovery Agency. State officials say the clinic can serve as many as 3,000 people annually.
The project was developed through a partnership involving DePaul, FLACRA, Person Centered Housing Options and the Rochester Interfaith Development Corporation. SWBR designed the development.
Financing included federal and state Low-Income Housing Tax Credits expected to generate nearly $20 million in equity, $10.5 million in New York Homes and Community Renewal subsidy, $5.5 million through the state Homeless Housing and Assistance Program and a $750,000 federal HOME grant through the city of Rochester.
The all-electric development also incorporates solar panels, energy-efficient appliances and water-conserving fixtures.
