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Hochul announces housing money for Mid-Hudson region

Feb 21, 2023 1:56 pm

The Daily Freeman reports that Gov. Kathy Hochul announced $150 million for mixed-use housing and infrastructure projects across the Mid-Hudson region on Feb. 21. Hochul is calling it the Mid-Hudson Momentum Fund with money over the next five years for mixed-use housing and infrastructure projects to help with all the newcomers moving to the area since the beginning of the pandemic. Hochul said in a press release that, “The new Mid-Hudson Momentum Fund will help to ensure that the region can continue to serve as a destination for families, workers, businesses, and tourists by helping to address the housing shortage, creating an equitable housing supply, and growing local infrastructure where communities need it most.” More than 33,000 new residents have moved into the Mid-Hudson Valley in the past two year, but regional housing stock availability was at less than one percent last year. The money is bing split with$75 million for mixed-use housing projects and $75 million for infrastructure projects. Hochul made the affordable housing crisis one of her main points in her "State of the State" speech and her new budget proposal. Read the full story in the Daily Freeman.

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