Albany recommends funding for 100 new homes

Update, June 6, 2022 - The Common Council unanimously approved awards for the Covid Recovery Task Force’s 35 recommended projects.

To help combat the affordability crisis, address racial homeownership disparities and help communities recover from the pandemic Habitat for Humanity Capital District and the Albany County Land Bank have set an ambitious goal to create 100 new affordable homes in the City of Albany and sell them to first-time homebuyers within the next five years.

As Albany grapples with the economic fallout tied to the Covid-19 pandemic, investments in new housing will accelerate our recovery. For every dollar invested by Habitat, an additional 74 cents is injected in our local economy. This joint effort leverages the strengths of our organizations to expand affordable homeownership opportunities, create jobs, increase property tax revenue and generate local spending. Our approach will create a foundation for the city’s equitable growth by transferring property back into community control and safeguarding neighborhoods against future displacement.

We are grateful to the Covid-19 Recovery Task Force for recommending an American Rescue Plan Act (ARPA) funding award for this community-based project. These funds will help significantly advance our goal of creating 100 new homes in five years and help attract the additional public and private funds needed to expand affordable, equitable homeownership opportunities for our neighbors.  

Christine Schudde, Executive Director
Habitat for Humanity Capital District

Adam Zaranko, Executive Director
Albany County Land Bank