Public-Private Partnership Unlocks Over $3.5 Million to Address Regional Housing Crisis
New Program Will Help Communities Plan, Finance and Build Housing for Working Families
Governor Kathy Hochul today announced the launch of Accelerate Workforce Housing, a multi-year, multi-partner initiative to address the critical shortage of housing for working families and individuals in the North Country region. Empire State Development (ESD) provided a $3 million grant, matched by contributions from regional funders convened by the Adirondack Community Foundation, to unlock a more than $3.5 million fund that will create a pipeline for developing new homes that support local economic and community health.
“Solving the housing crisis is a top priority for New York, and I applaud the North Country Regional Economic Development Council and its partners for their collaborative effort to unlock the essential housing needed to keep and build talent in the region,” Governor Hochul said. “This $3 million state commitment enables the Accelerate Workforce Housing project to expand access to quality, year-round homes near population centers, strengthening the North Country workforce pipeline for employees and businesses alike.”
This initiative is supported by the North Country Regional Economic Development Council’s (REDC) Housing Work Group, which has brought stakeholders together to identify public and private sector solutions to increase the supply of owner and renter occupied housing for all income levels. It also aligns with Governor Hochul’s commitment to tackling New York’s housing crisis.
The lack of available housing has become a significant barrier to attracting and retaining the workforce essential for the North Country’s vitality. The Accelerate Workforce Housing initiative specifically targets the needs of working families who earn too much to qualify for traditional housing assistance but are priced out of the current market, such as teachers, nonprofit workers, and healthcare aides. It will support housing opportunities for households with incomes between 120-200% of the Area Median Income (AMI). Under Governor Hochul’s leadership, New York State Homes and Community Renewal has invested $97.5 million to create or preserve more than 2,100 affordable homes in the North Country.
The initiative is built on a three-tiered development pipeline targeted at communities in the Adirondack region with populations of less than 10,000 seeking to add up to 20 housing units:
- Technical Assistance: The Lake Champlain – Lake George Regional Planning Board (LCLGRPB), with funding from the Adirondack Community Foundation and partners, will lead a technical assistance program for North Country municipalities that want to build more housing. The goal is to help 15 communities achieve “Pro-Housing Communities” certification from New York State and assist five more with updating local regulations to encourage housing development.
- Pre-Development: LCLGRPB will fund pre-development work, such as architectural engineering and infrastructure assessments, to advance housing projects to the “shovel-ready” stage. The goal is to have at least five communities complete the pre-development process for a total of at least 50 housing units. Projects will leverage philanthropic funding and a 1:1 municipal funding match.
- Capital for Construction: ESD awarded $3 million to the Development Authority of the North Country (DANC) to establish the North Country Housing Capital Revolving Loan Fund to provide flexible financing for both nonprofit and for-profit housing developers.
Empire State Development President, CEO & Commissioner Hope Knight said, “Housing is the foundation of a strong regional economy and a core priority of Governor Hochul. Through the Accelerate Workforce Housing initiative, we are closing critical gaps by aligning housing supply with employer demand—creating opportunity, strengthening communities, and fueling equitable growth across the North Country.”