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News Release    

March 21, 2003  

County Executive Jumps in to Support Two Important Poughkeepsie Projects
 

Poughkeepsie... Dutchess County Executive William R. Steinhaus has recently sent letters of support to New York State Division of Housing and Community Renewal for the 400 Block of Main Street project, proposing 54 units of affordable housing, and for Hudson River Housing’s Scattered Site Rental Rehabilitation Program, proposing 19 units of affordable rental housing, both in the City of Poughkeepsie.

“The Pennrose/Duvernay + Brooks project is a joint venture between Pennrose Properties, a real estate development and management company out of Philadelphia, and Duvernay + Brooks, a real estate development and financial consulting firm with offices in New York City. The project will contain 24 one-bedroom units, 28 two-bedroom units and 2 three-bedroom units,” according to Steinhaus. The proposed rents will be affordable to households earning up to 60% of the area median income.

County Executive Steinhaus noted, “In addition to supporting Pennrose/Duvernay + Brooks’ funding application to NYS, the County is providing $370,000 from its HOME Investment Partnership Program toward the project’s construction. This funding was provided as part of my initiative to encourage the redevelopment of housing on Main Street in Poughkeepsie which was announced in my 2002 State of the County, and we are committed to this project.”

“Hudson River Housing, a highly regarded local non-profit development company, has extensive experience in rehabilitation and the development of affordable rental housing,” Steinhaus said. “The proposed 19 units will include 2 studios, 8 one-bedroom, 7 two-bedroom, and 2 three-bedroom units, significantly adding to the affordable rental housing inventory needed in the community.” The units will be made available to households whose income are 40-45% of the area median income.

Demonstrated support from the local community is one of the factors the State considers when reviewing and ranking the application. Funding decisions should be announced in July 2003.

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