Construction is underway at Beaver Creek Apartments, a $22 million affordable housing development in the town of Farmington in Ontario County.
Beaver Creek Apartments will consist of 13 residential buildings with a total of 104 affordable homes. Residents will have access to Victor Central School District and nearby commercial corridors along state Route 332 and state Route 96 for jobs and services.
“When we build affordable housing in fast-growing areas with high-performing schools and access to good jobs, we provide families with new opportunities and strengthen the local economy,” said RuthAnne Visnauskas, commissioner, New York State Homes and Community Renewal. “This development will create the safe, affordable homes that will help guarantee as the Finger Lakes region keeps moving forward, all New Yorkers are moving forward with it.”
Beaver Creek Apartments is designed to complement Finger Lakes Forward, a $500 million state investment through the Upstate Revitalization Initiative, by providing workforce housing in an area experiencing economic growth and in a high-performing school district. The project is part of the governor’s five-year, $20 billion plan to create or preserve more than 100,000 affordable homes and 6,000 with supportive services. It joins the $4.8 million Pintail Crossing, which will offer another 64 homes for families in Victor CSD.
Developed by Home Leasing, the development features 13 new buildings on 15 acres with eight apartments, each. It primarily serves families with 32 one-bedroom, 40 two-bedroom and 32 three-bedroom apartments. All buildings are compliant with the Americans with Disabilities Act, and include balconies or patios as well as laundry facilities. A separate community building will house a kitchen, multipurpose room and exercise room for tenants.
Beaver Creek Apartments is located on the west side of state Route 332. The site is adjacent to Home Leasing’s 88-unit affordable senior housing development, Farmington Gardens I, financed by HCR in 2010.
This is new mixed-income development with 97 apartments available to households earning 60-90 percent of the area median income.
HCR provided $16.3 million for the development in the form of tax-exempt bonds and subsidy loans. Its federal low income tax credit allocation will generate more than $5.7 million in equity.
“This is great news for both the town of Farmington and Ontario County,” said John Marren, chairman, Ontario County board of supervisors. “These 104 affordable apartments will provide housing opportunities for many existing and new residents. This location is surrounded by high-performing school districts and many employment opportunities.”