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More affordable housing is coming

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March 20, 2007

Albany --  The city is using federal HOME dollars to partner with private and non profit developers to build new affordable low income housing.

About $776,000 will be awarded to developers to bring in rental units and single family homes for ownership.

Construction could begin as early as April. About 130 new homes or rental units will be built over the next several years.

"The main reason that we want to see new development is to improve and upgrade the current housing stock. It's more about the quality of the housing than the numbers of housing at this point," said Community and Economic Development Jennifer Clark.

All of the developers will repay the city for the loans, so that money can be recycled and used for other housing projects.

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