Locust Hill Workforce Housing Community, Rhinebeck, NY. Developed by a public private partnership led by the Housing Partnership Development Corp.
Source: The Kearney Group.

DEVELOPMENT UPDATE

Housing Partnership Leads Public Private Partnership Developing Workforce Housing in Town of Rhinebeck, Dutchess County, NY

The Housing Partnership is leading a public private partnership developing an 80-unit workforce housing community in the Town of Rhinebeck in Dutchess County, New York. Qualifying income for the rental units is 60 to 90 percent of Area Median Income.

The total development cost of the project, named Locust Hill, is about $30 million, with funding from New York State Low Income Housing Tax Credit financing and a $6.2 million grant from the Wells Manor Housing Development Fund Corp.

“Workforce housing, as called for in the Town of Rhinebeck’s Comprehensive Plan, is a crucial need. High housing costs force many public and private employees to make lengthy, costly commutes to other towns and counties to find affordable homes for themselves and their families,” said Jamie Smarr, President and CEO of the Housing Partnership. “These include first responders and health care personnel and employees of local businesses who serve the Rhinebeck community.”

“The new workforce housing community is on an underutilized 23-acre site that the Town identified for this purpose” said Ken Kearney, founder and president of the Kearney Group, which is partnering with the Housing Partnership in this development.

“The need for workforce housing is a persistent issue as public agencies and private employers face the challenge of retaining and recruiting staff,” said Denise George, President of Northern Dutchess Hospital, the Town of Rhinebeck’s largest employer. “The Locust Hill development is a significant factor in enabling people to live in the community in which they work.”

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