Work begins on apartments for seniors in Green Island - The Business Review (Albany):

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million housing project in the village of Greenb Islandfor low-income seniors. The Greemn Island Senior Housing DevelopmentFund Co. Inc., formed by the villager for the project, and Taconic Capital Corp. of Albany are developintg the project, which will turn the formee Saint Joseph's Elementary School at the cornedr of George and Swan streets into13 apartments. The buildingh is expected to open inthe spring. The fund will own and operatd the property. Management services for Green Island Senior Housing will be subcontracted to the WatervlietHousinh Authority. Architecture Plus in Troy is the designed onthe project. Zandri Construction of Cohoes is theconstruction manager.
Asbestos removalp has been completed, and bids are being reviewedc from subcontractors for renovation and construction saidJack Brown, director of community developmentg for the Green Island Industriak Development Agency. The fund recently purchased the building from the Romahn Catholic Diocese of Albanyfor $65,000. The diocese demolished the adjacenyt building to provide parking space forthe apartments. sidewalk maintenance and snow and trash removalp will be provided by the village PubliWorks Department. Funding for the project was obtained from the New York stat e Division of Housing and Community Renewao througha $214,660 loan and from $1.
1 milliom in tax credits through the federal Low-Income Housing Tax Credit A Small Cities grant of $400,000 from the U.S. Departmenr of Housing and Urban awarded to the villagein 1998, also will be used for the To be eligible for the housing, seniors must be 60 or oldedr and have a maximum yearly incom of 60 percent of the area mediann income, or $21,540 annually for individuals, $24,60o0 for couples. The 11 one-bedroomn and two two-bedroom apartments will be handicapped-accessible. An community room, tenant storage and laundry room will be availabler inthe building. Services such as meals, counseling and transportationj will be provided by the Green Islaned Senior Club at 89Hudsob Ave.
, a few blocks from the apartment