The city of Hudson is set to benefit from a significant investment in affordable housing through Governor Kathy Hochul’s statewide housing initiative. As part of a broader effort to combat New York’s housing crisis, Hudson will receive $9.5 million to fund the Mill Street Lofts project. This development will bring 70 new mixed-income housing units to city-owned land, expanding access to affordable living for residents.
Mill Street Lofts aligns with the governor’s five-year, $25 billion housing plan, which aims to create or preserve 100,000 affordable homes across the state. The funding is part of $270 million awarded through the federal Low-Income Housing Tax Credit (LIHTC) program and state subsidies. This program incentivizes private investment to expand the housing supply and modernize communities.
Governor Hochul has championed legislation in Washington to further expand LIHTC. If passed, the Affordable Housing Credit Improvement Act could finance 100,000 additional units across New York over the next decade. By prioritizing affordability, sustainability, and local economic development, this investment will help tackle housing shortages in communities like Hudson.
The Mill Street Lofts development will incorporate energy-efficient features in line with the New York State Climate Leadership and Community Protection Act. This initiative promotes healthier living environments while reducing the carbon footprint of new housing projects. Additionally, all awarded developments, including Hudson’s, will offer free broadband internet under the ConnectALL initiative, ensuring digital accessibility for lower-income households.
This investment in Hudson is a major step toward solving the region’s housing crisis. By combining state and federal resources, the city is positioned to provide sustainable, affordable housing while stimulating local economic growth. As New York moves forward with its housing plan, Hudson remains a key part of the statewide effort to ensure safe and accessible homes for all residents.
Mathew Alvarez joined Rockland Daily News as a reporter in March 2020, but he’s no stranger to Rockland County. He grew up in New City and graduated from Ball State’s College of Communication, Information, and Media.
