(Cortland, NY)- Senator Lea Webb (SD52) and Assemblymember Anna Kelles (AD125) applauded the state’s $9.3 million investment in the Cortlandville Commons project in the Town of Cortlandville. The funding will be provided through the New York State Homes and Community Renewal’s Low-Income Housing Tax Credit competitive funding round and will fund construction of Cortlandville Commons, a 68-unit affordable and supportive housing project developed by Regan Development Corporation that also includes commercial space intended for a childcare provider. 

“I applaud this robust investment in affordable housing in Cortlandville,” said Senator Lea Webb. “I thank Governor Hochul for her partnership as we work together to increase access to safe, stable, affordable housing here in Central New York. I am happy that this project also includes a much-needed childcare center. This is a huge step forward in addressing the housing crisis for people with disabilities, seniors, and working families.”

Said Assemblymember Anna Kelles, “This is exactly the type of investment we need to address multiple community needs at once. The Cortlandville Commons project will create critically needed affordable homes while also expanding access to childcare and ensuring accessible housing for residents with disabilities. Stable housing and reliable childcare are the foundation to strong communities and local economic vitality and I’m thrilled to see New York State making this important investment in Cortland County”.

“This transformative project will develop a vacant lot in the town of Cortlandville into Cortlandville Commons,” said Gregory K. Leach, Cortlandville Town Supervisor. “Cortlandville Commons will add affordable housing and childcare options to the market for Cortlandville families, while bolstering economic development with the inclusion of space for commercial use, this project has been a long-time coming and we are grateful to our state partners for their advocacy on behalf of the Town of Cortlandville.” 

“Regan Development Corporation is proud to partner with New York State and local leaders to bring Cortlandville Commons to life,” said Larry Regan, President of Regan Development Corporation. “This project will provide high-quality, affordable housing for working families and supportive housing units for persons with developmental disabilities while also creating space for a much-needed childcare provider. We are grateful to Senator Webb, Assemblymember Kelles, and Governor Hochul for their leadership and commitment to expanding affordable housing opportunities in Cortland County.”

Background: 

Cortlandville Commons will be developed on vacant real property located at 978 State Route 13 in the Town of Cortlandville and will be an affordable residential multifamily building with 68 dwelling units and some commercial space, of which 10-units will be built as fully accessible and adapted for residents with mobility, hearing and or vision issues.  The project's nonprofit partner, Springbrook, will make referrals to the project to fill the fully accessible and adapted units and will make available the wide variety of services they offer to help ensure the independence of the residents. In addition to adding workforce housing to the region’s stock, Cortlandville Commons will also add a sorely needed childcare center. 

The project involves the new construction of a single four-story elevator building with 68 dwelling units, including 27 one-bedroom apartments, 37 two-bedroom apartments, and 4 three-bedroom apartments.  The apartments will be affordable to individuals and families with a range of incomes up to 60 percent of the Area Median Income (“AMI”) for Cortland County. The project also includes 6,200 square feet of non-residential space targeted for a daycare center. 

The awards are provided through New York State Homes and Community Renewal’s annual Low-Income Housing Tax Credit competitive funding round. Financing includes $66 million from its Federal and State Low-Income Housing Tax Credit programs and $176 million in subsidy loans. Tax credit and subsidy information for each project is available here. When combined with private funding, the projects are expected to generate $1 billion in overall investment.

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