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Schenectady has launched a $5.4 million affordable housing project on Hamilton Hill, aiming to transform six vacant buildings into 11 new residential spaces. The project, spearheaded by Better Community Neighborhoods, Inc. (BCNI), focuses on rehabilitating tax-foreclosed properties to provide quality housing. According to CBS6 Albany, eight of the units will be reserved for households earning up to 50% of the Area Median Income (AMI), and three for those earning up to 80% of the AMI.
The project is funded by a $4.4 million award from the New York State HOME American Rescue Plan Program, with additional contributions from the City of Schenectady’s American Rescue Plan Act and the Little Family Foundation. Schenectady Mayor Gary McCarthy emphasized the importance of creating diverse homeownership opportunities and revitalizing the neighborhood.
Construction on Germania Avenue began in October, with the first homes expected to be completed by May 2026 and the last by August 2026. BCNI plans to work with the Schenectady Community Action Program to identify eligible tenants and provide essential services. BCNI CEO Matthew Nelson stated, "It’s hitting two needs: housing is an essential element of everyone’s life, and so, providing more options for families and residents of the area is the first thing."