Governor Hochul Announces Final Mid-Hudson Momentum Fund Awards, Completing $150 Million Regional Housing and Infrastructure Initiative

$22 Million Will Support Three Final Round II Projects in Peekskill, Newburgh and Haverstraw

$150 Million Has Supported 26 Projects Expected To Create or Unlock More Than 11,000 Homes, Including Nearly 4,000 Affordable Homes

Awards Advance Mixed-Use, Transit-Oriented and Waterfront Development in Pro-Housing Communities

Governor Kathy Hochul today announced the final Mid-Hudson Momentum Fund awards, providing $22 million in additional assistance to three developments - SoLo, Liberty Street Apartments and the Haverstraw Chair Factory - previously selected through Round 2 of the program. The new investments will help advance nearly 830 homes while supporting transit-oriented development, downtown revitalization and improved access to existing infrastructure and waterfront areas. Consistent with the Governor's Pro-Housing Communities Program, the Fund prioritized municipalities that have expanded their housing supply or demonstrated a commitment to pro-housing principles.

"The Mid-Hudson Momentum Fund has helped communities across the region tackle housing shortages, strengthen critical infrastructure and move ambitious development plans forward," Governor Hochul said. "With these final awards, we are building on that progress and helping deliver thousands of new homes, including nearly 4,000 affordable homes, in communities that have demonstrated their commitment to growing New York's housing supply."

Empire State Development President, CEO and Commissioner Hope Knight said, "These final Mid-Hudson Momentum Fund awards mark the culmination of a multi-year effort to address some of the region's most pressing housing and infrastructure needs. By providing additional resources to three previously selected Round 2 developments, we are helping them move closer to completion while creating new homes, strengthening downtowns and generating lasting economic benefits for their communities."

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "The Mid-Hudson Momentum Fund demonstrates what is possible when New York State invests in communities that are committed to building more housing and planning for sustainable growth. By prioritizing Pro-Housing Communities that are growing or taking steps to show they support expanding housing opportunities, streamlining development, and removing barriers to responsible growth, Governor Hochul is helping turn ambitious local plans into real results. These final awards will help advance hundreds of additional homes in Peekskill, Newburgh and Haverstraw while building on a $150 million investment that has helped unlock more than 11,000 homes across the Mid-Hudson region. Together, these projects are creating stronger, more vibrant communities and helping ensure that more New Yorkers can afford to live and thrive in these wonderful communities."

Mid-Hudson Regional Economic Development Council Co-Chairs Dr. Marsha Gordon and Dr. Kristine Young said, "The Mid-Hudson Momentum Fund has enabled communities throughout the region to advance projects that respond directly to local housing, infrastructure and economic development needs. This additional investment will help three important Round 2 developments continue moving forward, bringing new homes, commercial activity and renewed vitality to Peekskill, Newburgh and Haverstraw. We thank Governor Hochul for her sustained commitment to the Mid-Hudson region and its long-term growth."

Read the full press release here.