This is a rendering of the a 63-unit affordable workforce housing project planned by the Saratoga Housing Authority and Norstar Development, designed by Balzer & Tuck Architecture.
Courtesy Balzer & Tuck Architecture<\/figcaption><\/figure>\nby Andrea Palmer
\nThe Saratoga Housing Authority is partnering with Norstar Development on a 63-unit affordable workforce housing project in Saratoga Springs.
\nWhen Paul Feldman took over as authority executive director he was asked to serve on a task force to address the affordable housing needs in the city. As the task force started looking, there was not much available land on which to develop housing.
\n\u201cI realized I had some land already owned by the Housing Authority, under a declaration of trust, that we could develop. We had three acres of land behind the Stonequist high-rise. It was basically going unused other than a picnic area out there for Stonequist residents, and some community gardens,\u201d said Feldman.
\nThe project, called Promenade Apartments, received $3.9 million for the project on land adjacent along West Circular Street.
\nFeldman met with Steve Longo from the Albany Housing Authority to get input on how to proceed. The authority then took on Norstar as a partner. They worked with Norstar on the design and plan and came up with funding from the state.
\nIn addition to the 63-unit project, Feldman also submitted an application to the state for $3.2 million to put another 24 units near the Jefferson Terrace complex.
\n\u201cWe\u2019ll be putting up 87 units of affordable housing over the next year and a half or so,\u201d said Feldman.
\nPromenade is expected to be complete in the spring of 2021.
\n\u201cWhen I was on the affordable housing task force, I met with several business owners and had a lot of sharp business owners on my board of the Housing Authority. Saratoga Springs is primarily a service-oriented, tourism-driven city. We have all these places that employ people but don\u2019t pay them very much. Many employees can\u2019t afford to live in Saratoga,\u201d said Feldman.
\n\u201cSo if you\u2019re running a restaurant, and you have employees driving to work from Albany or Lake George, maybe in a car that isn\u2019t very good, you\u2019ll get call-offs and that impacts your business. If you\u2019re a teacher or a cop or fireman just starting out, it\u2019s hard to afford to live here. There are real ramifications to everyone in not having affordable housing in Saratoga Springs,\u201d said Feldman.
\n\u201cSo we decided we would gear the project towards the workforce. With this project, people can literally walk to work if they work on Broadway.\u201d
\nThe task force had a market study done, and found there were over 1,000 housing units built over the prior 10 years\u2014none of which was affordable housing.
\nAffordable housing is generally defined by HUD as spending 30 percent or less of one\u2019s income on housing. In Saratoga Springs, this is based on the Albany-Schenectady-Troy average median income.
\nThe Saratoga Housing Authority will also be looking to rehabilitate the existing public housing in Saratoga Springs, starting with Stonequist Apartments.
\n\u201cWe did a procurement for the rehabilitation project and are partnering with Norstar on that as well,\u201d said Feldman.
\n\u201cOur Housing Authority\u2019s direction is to add and upgrade the housing stock of the city, and we\u2019re off to a pretty good start,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
by Andrea Palmer The Saratoga Housing Authority is partnering with Norstar Development on a 63-unit affordable workforce housing project in Saratoga Springs. When Paul Feldman took over as authority executive director he was asked to serve on a task force to address the affordable housing needs in the city. As the task force started looking, […]<\/p>\n","protected":false},"author":196,"featured_media":34552,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-34553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction-planning"],"yoast_head":"\r\n
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