(Read more on the debt and equity markets and more on the multifamily market.)
ALBANY-New York Gov. Eliot Spitzer says the state will be financing $38 million in grants to help homeless families in 13 counties across the state. The funding will be used to support the development of 730 housing units with 879 beds.
Some of the largest grant allocations are to agencies in the New York metro region, including $5.5 million to the Fortune Society of Manhattan, a little more than $1 million to the Westside Federation for Senior and Supportive Housing and $3.5 million to Common Ground Community in the Bronx. Also in the area, the YWCA of White Plains will receive $5 million in grant funding and the Newburgh Ministry in Orange County has secured more than $1.8 million to help develop housing for homeless families.
"Some of our most vulnerable residents, including the elderly, victims of domestic violence, the mentally disabled and homeless youth will benefit from these projects," says Spitzer. "By providing them with the possibility of a stable home environment we are helping them to achieve self-sufficiency and economic security."
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