$7.6M In Repairs Coming To Inwood Tower, Gov. Hochul Announces

UPPER MANHATTAN, NY — Gov. Kathy Hochul announced recently that 190 homes at Inwood Tower will remain affordable for the next 30 years with the help of a $7.6 million loan.

The funding to preserve the 190 apartments at 11 Fort George Hill through 2052 will also go to elevator repairs, roof replacement, gas line repairs, replacement of boilers, radiator replacement, and facade and brick repointing.

Additionally, the repairs will make the property more energy-efficient and also reduce costs.

The loan is from New York State Homes and Community Renewal, which develops and preserves affordable housing and invests in local communities.

"As New York State takes action to combat the housing crisis in the wake of the pandemic, this agreement protects critical support for an affordable housing community in an increasingly unaffordable neighborhood," Hochul said. "New York will continue to preserve and upgrade affordable housing developments across the State in order to ensure that they remain a safe and affordable housing resource for the next generation of New Yorkers."

Inwood Tower is a state-supervised Mitchell-Lama housing cooperative constructed in 1963 to provide affordable housing.

"Inwood is a hub of culture, community, and rich history. We must remain vigilant and work to preserve and protect our low and middle-income residents from displacement. This plan will ensure critical improvements are made while safeguarding the tenants who have made Inwood Towers their home."