National Equity Fund

New Amsterdam Apartments Preserves More Than 100 Affordable Housing Units for Seniors in New York

New Amsterdam (External)
August 28, 2023

Congratulations to our partners at Amsterdam Housing Authority and 3d Development Group LLC on the ribbon cutting ceremony of the New Amsterdam Apartments in Amsterdam, NY. It was an honor to have Governor Kathy Hochul and Mayor Mike Cinquanti speak at this event along with NEF's very own Emily Chen, other stakeholders, and community members.

The substantially renovated New Amsterdam Apartments offers 116 units of affordable housing for seniors aged 55+ earning at or below 80% of the area median income (AMI). Located within one mile of all major services, this development is truly a dignified safe haven for residents. The federal Rental Assistance Demonstration program enabled the rehabilitation to preserve the long-term affordability of the building.

The New Amsterdam Apartments' completion concludes the two-phase project to preserve almost 200 homes for seniors in the suburb, which started with the renovation of Phase I, Stratton Apartments, which currently provides 75 apartments for seniors aged 62+ with incomes at or below 80% AMI.

Learn more and see a photo of the finished apartment complex here.

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