New York Governor Kathy Hochul launches $40M program to revitalize 600 vacant apartments into affordable housing.

New York Governor Kathy Hochul has announced a $40 million program to revitalize up to 600 vacant apartments across the state, excluding New York City. The Vacant Rental Improvement Program will provide subsidies of up to $50,000 or $75,000 per unit for renovations, converting them into affordable housing for low- and moderate-income residents. Ontario County and Jamestown are among the beneficiaries, with each receiving significant grants to address housing shortages and improve local properties.

November 22, 2024
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