4 Rockland County Affordable Housing Projects Get Funding

NEW CITY, NY – Recent multi-million dollar loan awards will help fund the development of hundreds of affordable housing units in the region, county officials said Friday.

Rockland County leaders announced the recipients of Housing Action Loan Opportunity (HALO) Awards, which are going toward four affordable housing projects, including three in Haverstraw and one in Clarkstown.

Rockland County Executive Ed Day said the HALO program will help hardworking area residents “have access to attainable homes.”

"This is a monumental step forward in our ongoing efforts to address Rockland's housing crisis,” Day said.

The HALO program provides direct low-interest loans to borrowers who are creating or preserving housing that is attainable to the average county resident, officials said. The program was launched with federal American Rescue Plan Act funding. Proceeds from loan repayments will go back into the program for future projects.

Officials said the four projects will be designed to be consistent with the character of the neighborhoods where they are located.

The four HALO loans and projects announced Friday include:

• $3 million to support Pennrose NY LLC’s efforts to redevelop the former Haverstraw Chair Factory along the Hudson River to create 308 affordable units.
• $3 million to Westhab, Inc. for developing a vacant lot at 30 West St., Haverstraw, for an 81-unit affordable rental project for qualified low-income renters.
• $2.5 million to Sisters of Charity Housing Development Corp. to acquire and preserve an existing 90-unit affordable rental development called Haverstraw Place at 140 Route 9W for qualified low-income senior renters.
• $5 million to Regan Development Company’s special purpose entity Nannawit Commons LLC, to support development of a new 52-unit, affordable rental project for qualified low-income, senior renters aged 55-plus in Clarkstown.