Governor Kathy Hochul today announced the completion of construction of a new $32 million affordable housing development and arts center in the new Cherry Street neighborhood of Ithaca City. Known as Ithaca Arthaus, the 123-apartment development includes arts-related community facilities and offers 40 homes for young people who need support services to live independently.
“We are committed to providing access to quality, affordable, and welcoming housing where New Yorkers can live, earn, learn, and play in the communities they love,” Governor Hochul said. “Ithaca Arthaus is an exciting mixed-use development that will spur economic and creative growth in the city’s new arts district and provide essential affordable housing with supportive services for those in need.
Ithaca Arthaus is part of Governor Hochul’s sweeping plans to make housing more affordable, equitable and stable. The Governor introduced and successfully secured, in the recently passed State budget, a comprehensive new five-year, $25 billion housing plan that will increase housing supply by creating or preserving 100,000 affordable homes in New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.
The development includes 123 affordable apartments with 40 homes for young people coming out of foster care programs. They will receive support services through an Empire State Supportive Housing Initiative award to Tompkins Community Action, Inc., administered by the state Office of Temporary and Disability Assistance.
The ground floor of the development features two spaces – the Cherry Gallery and the Cherry Studio – allowing residents to engage in arts and theater activities, with the help of Cherry Arts, Inc., the non-profit corporation that manages the Cherry Artspace, located next to the new development. The Cherry Gallery will provide exhibition space for the visual arts as well as salon-style screenings of music, multimedia and performance art. The Cherry Studio will provide gathering and rehearsal space for workshops, after-school programs and group activities.
Located on Cherry Street along the Cayuga Inlet waterfront in a former industrial area southwest of downtown Ithaca, Ithaca Arthaus is near the Ithaca and Greyhound bus stations and several grocery stores, including a food cooperative, as well as pharmacies, medical offices and financial institutions. and retail options.
The development’s energy efficiency measures include ENERGY STAR qualified windows and appliances, an efficient ductless heating and cooling system, energy efficient LED lighting, direct metering for electricity, low airflow and building envelope insulation levels 25% higher than code requirements.
State funding for the $32 million Ithaca Arthaus includes $4.8 million in permanent tax-exempt bonds, federal low-income housing tax credits that generated $10.9 million in equity and $14 million in grants from New York State Homes and Community Renewal. The promoter of Ithaca Arthaus is the Vecino group.
Homes and Community Renewal Commissioner RuthAnne Visnauskas said: “Ithaca Arthaus is a $32 million investment that will anchor the city’s new Cherry Street neighborhood with affordable rents, exceptional arts-based community amenities, and supportive services for many young people transitioning to their first permanent home.” and stable. We are thrilled to bring such a well-rounded development to fruition, and we thank the City of Ithaca, Vecino Group, Cherry Arts and all partners who share our vision of building bright and vibrant downtown destinations. exciting tours across the great state of New York. »
Office of Temporary and Disability Assistance Commissioner Daniel W. Tietz said: “Supportive housing provides homeless New Yorkers with the services they need to stay in stable housing. The Arthaus Support Units will provide young adults in the Ithaca area with safe, affordable housing and lifesaving supports. I commend Governor Hochul for continuing to make affordable housing a priority of her administration, including projects like the Arthaus that provide targeted assistance to individuals and families to ensure they stay housed and succeed in the community. . »
Senate Majority Leader Chuck Schumer said: “Every Ithaca deserves access to safe and affordable housing, but historic underinvestment has created a housing crisis in places like Ithaca. I am proud that the Federal Low-Income Housing Tax Credit that I fought to protect and expand has provided the millions needed to make these hundreds of new affordable homes a reality. Housing is a human right and I will continue to fight for every dollar of federal support needed to help lay the groundwork in Ithaca for a brighter, more “groovy” and more equitable future for all residents.
State Senator Tom O’Mara said,We are grateful for the state’s continued investments like this to help the work of local agencies and communities to ensure affordable housing for area residents. Ithaca Arthaus will improve the lives of many young people in need of support services. The new housing development will make a huge difference to residents and help them live independently and safely in quality surroundings while continuing to improve and strengthen the fabric of the local community.
Acting Mayor of Ithaca Laura Lewis said: “The city appreciates Vecino’s commitment to undertaking this project, they have been a wonderful partner in addressing the need for more affordable housing in our community. Congratulations on the opening of Arthaus on Cherry Street. I would like to acknowledge the critical financial support provided by New York State Homes & Community Renewal, as well as the local incentives provided by the Tompkins County Industrial Development Agency, to make this project a reality.
Rick Manzardo, Chairman of Vecino Group said: “Ithaca understands the importance of art in the community. We are grateful to the city and our partners who understand that the need for affordable, supportive housing can expand into the creative realm and have trusted the Vecino Group to be part of that growth in the form of Ithaca Arthaus. Not only do our residents benefit from a place where they are supported in creating and sharing their art, but the community can also experience the heart and energy that creative expression can bring to our lives.
South Level Soaring Acceleration
Today’s announcement complements “Southern Tier Soaring,” the region’s comprehensive plan to generate robust economic growth and community development. The plan designed at the regional level aims to attract a talented workforce, develop activities and stimulate innovation. Today, the region is accelerating the rise of the Southern Tier with a $500 million investment from the state through the Upstate Revitalization Initiative. The state’s $500 million investment will spur private businesses to invest well over $2.5 billion — and the region’s plan, as submitted, calls for up to 10,200 new jobs. More information is available here.