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Providence Housing awarded grant from Federal Home Loan Bank of New York

January 27, 2014 — A $241,625 grant has been awarded to Providence Housing Development Corporation for the Son House Apartments project. Son House was a famed blue musician who lived in Rochester much of his life and also struggled with homelessness. The Son House Apartments, a 4.1 million building on Joseph Avenue in Rochester project provides 21 permanent supportive housing apartment units for individuals struggling with homelessness. The first floor also includes space for offices for The Catholic Family Center.

First Niagara Bank submitted the application for this funding. Other funding sources will include City of Rochester HOME funds, the New York State Housing Trust Fund and the Office of Temporary Disability Assistance Homeless Housing Assistance Program.

The Federal Home Loan Bank of New York’s AHP provides member-lenders with direct subsidies which are passed on to income-qualified households through sponsoring local nonprofit organizations.

The grants are part of $35.5 million in Affordable Housing Program (“AHP”) subsidies that the Federal Home Loan Bank of New York will award as its 2013 AHP grant round. At the Federal Home Loan Bank of New York, the AHP has supported 1,386 projects with nearly $475 million in grants, helping to create or preserve 60,250 units of affordable housing and generating an estimated $8.5 billion in total development costs.