HUDSON — The Galvan Foundation has announced plans to renovate 10 houses to create 29 new units of varying sizes by the end of the year to address the need for affordable housing in the city.
Galvan plans to spend $5.6 million to transform the units with help from a loan from the Bank of Greene County.
The plan includes a studio unit, five one-bedroom units, 18 two-bedroom units, four three-bedroom units and one four-bedroom unit.
The initiative is in addition to the Galvan Civic Motel at 3550 Route 9 in Greenport. Galvan has proposed a 25-room motel designed to address emergency housing needs in Columbia County.
The 10 properties were obtained through private sale and donated to Galvan by trustees, said Dan Kent, vice president of initiatives at the Galvan Foundation. The initiative is funded by contributions from Galvan’s trustees. Trustees have donated more than $30 million to Galvan over the years.
Twenty-six of the units will be located on/or south of Warren Street, which is considered in the lower-poverty rate census tract, according to the U.S. Census website.
“Looking at the research about the effects that living in a high-poverty neighborhood has on a child and how much better their chances in life of getting out of poverty can be if they are growing up in a neighborhood that has a lower poverty rate, we decided combine those ideas,” Kent said.
The units will be developed at 29-31 Fairview Ave., 260 Warren St., 22-24 Warren St., 356 Union St., 340 State St., 105 Union St., 357 Union St., 229 Union St., 357 Union St., 229 Union St., 69 N. Seventh St. and 335-337 Allen St.
The properties at 260 Warren and 22-24 Warren St. will have commercial space on the ground floor.
The plan to renovate 22-24 Warren St. and two other properties were removed earlier this month from the recommended list of projects for $10 million in state grant funding under Gov. Andrew M. Cuomo’s Downtown Revitalization Initiative.
Several of the properties under construction, or soon-to-be under construction, have historic significance.
The affordable-housing initiative aims to help low-income residents and rehabilitate historic buildings in Hudson, Kent said.
Some of the properties have been in the Galvan Foundation’s possession for several years. Galvan acquired properties at 260 Warren St. in 2013 and 22 Warren St. in 2012, according to Columbia County property records.
Galvan is prioritizing projects based on need.
“We determine when to start work on a building based on opportunities to meet community needs,” Kent said. “For example, when we purchased the Armory, we knew it could serve as a community center. However, at that time, we did not know there was an opportunity to partner with Hudson Area Library, Hudson Senior Center and Perfect Ten Afterschool program. When we identified the need for a new library, senior center and after-school program, we responded by developing a plan to meet that need by rehabilitating the Armory.”
Potential tenants may apply to occupy the units through the Galvan Foundation, which operates 180 affordable housing units.
Eligibility will be calculated using a person’s income and area median income, or AMI, or the household income for the median or middle household in the region.
Rent for a one-bedroom at 60 percent AMI would be $711; $933 for two bedrooms; $1,026 for three bedrooms; and $1,202 for four bedrooms, according to a statement from the Galvan Foundation.
Galvan maintains all of its properties, Kent said.
The program will also address income segregation within the city, according to Galvan.
“Economic segregation is particularly apparent in Hudson,” according to Galvan.
To reach reporter Amanda Purcell, call 518-828-1616 ext. 2500 or send an email to email@example.com, or tweet to @amandajpurcell.
Editor's note: This article reflects a change to the amount Galvan plans to spend and the locations of the 26 units.