By: Kevin Olobzija
Original Article from the Rochester Business Journal
Meadow Reserve at Irondquoit, a $20.4 million affordable and supportive housing community for seniors, officially opened on Thursday.
Developed by Rochester Management, Inc., Meadow Reserve provides 80 affordable housing units for residents 55 and older. Half of the units are for households in need of supportive services, allowing the residents to still live independently.
“Meadow Reserve at Irondequoit will enable 80 households to age in place in a safe, energy-efficient complex with on-site health and social services, a fitness center, outdoor spaces, and easy access to nearby amenities and transit,” RuthAnne Visnauskas, commissioner of New York State Homes and Community Renewal, said in a news release.
“The State’s investments in forward-thinking developments like this one will help seniors across New York live independently in the communities they call home and boost our housing supply for generations to come.”
Meadow Reserve at Irondequoit is part of Gov. Kathy Hochul’s efforts to make housing more affordable, equitable and stable. She has launched a new $25 billion, five-year initiative that will create and preserve an additional 100,000 affordable homes in urban and rural areas across New York, including 10,000 with support services.
Meadow Reserve was built off Culver Road not far from Route 104. SWBR provided architectural services and LeCesse Construction was the builder.
There are three stories with 77 one-bedroom apartments and three two-bed units. Amenities include laundry facilities on each floor, a lounge, fitness center, landscaped gardens, a rooftop deck and other outdoor gathering spaces.
Through a special partnership with Rochester Regional Health, residents will also have access to on-site evaluation of their medical needs, as well as a service coordinator who will link residents to their necessary providers.
“We are so grateful to New York State and all our diligent partners who worked throughout the pandemic to create this beautiful and affordable community for seniors,” Rochester Management president and CEO Peggy Hill said. “We are very fortunate to have Rochester Regional Health partnering with us and coordinating critical services for our residents. Having these services will enable seniors to live independently longer with dignity and with the support they need.”
All apartments are affordable to households earning at or below 50 percent of the Area Median Income. In addition, the Rochester Housing Authority will provide eight Project-Based Section 8 Housing Choice Vouchers.
State financing includes $4.5 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated more than $5 million in equity, and $9.2 million in subsidy from HCR. Additional financing includes a deferred developer fee and sponsor note.