A new affordable housing development, the Reserve at Saratoga Springs, has been completed in Saratoga Springs, New York. The $78 million project includes 202 affordable and supportive apartments spread across 12 buildings and is located about one mile from the city’s downtown area. This initiative is part of a broader effort by New York State Homes and Community Renewal to increase affordable housing options in Saratoga County.
Governor Kathy Hochul highlighted the importance of the project for the region. “The Capital Region’s continued growth has created a high demand housing market, particularly in vibrant communities with high-performing schools like Saratoga County,” Governor Hochul said. “This development delivers more than 200 energy-efficient, affordable homes in the heart of Saratoga Springs and will support the area’s workforce for years to come, proving that clean, affordable all-electric housing isn’t just possible, it’s happening right here in New York State.”
All apartments are reserved for households earning up to 60 percent of the Area Median Income. The NRP Group served as developer for the project. The site was previously an unused wetland, and its redevelopment included construction of multifamily buildings and townhouses designed to fit with neighborhood character. The city facilitated this growth through rezoning efforts intended to promote new housing.
The Reserve at Saratoga Springs features all-electric systems aimed at improving energy efficiency. Amenities include ENERGY STAR appliances, insulated walls, green label flooring, efficient lighting fixtures, and high-efficiency water heaters.
Funding sources for the project included over $28 million in equity from state and federal Low-Income Housing Tax Credit Programs and $23 million from a Homes and Community Renewal subsidy. Additional financial support came from a $400,000 grant by the New York State Energy Research and Development Authority (NYSERDA) and a $567,000 construction refund provided by Saratoga Springs. Operating funds for supportive apartments will be supplied through the Empire State Supportive Housing Initiative administered by the Office of Temporary and Disability Assistance.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas commented on the significance of the development: “The Reserve at Saratoga Springs is a testament to New York State’s commitment to expanding access to high-quality, affordable housing. This transformative $78 million development not only provides 202 energy-efficient homes for Saratoga Springs families but also strengthens our communities by supporting Governor Hochul’s ambitious housing agenda to create and preserve 100,000 affordable homes across the state. By leveraging innovative financing and partnerships, we are ensuring that vibrant communities like Saratoga Springs remain accessible to our growing workforce.”
Doreen M. Harris, President and CEO of NYSERDA said: “Projects like the Reserve at Saratoga Springs build upon New York’s efforts to expand affordable, healthy, and modern housing across the State. By incorporating clean technologies, these apartments will provide a highly efficient and comfortable living option to New Yorkers who need it most while also supporting the region’s growing workforce.”
Senator Charles Schumer noted federal involvement: “Every family in Saratoga Springs deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help build over 200 new units at the Reserve at Saratoga Springs. These newly constructed buildings will be energy-efficient, easily accessible to the CDTA and Amtrak. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul’s work increasing access to affordable housing in the Capital Region, and I will continue working to deliver federal resources to deliver more affordable housing across New York.”
Senator Kirsten Gillibrand added: “Expanding access to state-of-the-art, safe, and affordable housing is critical for all New Yorkers. The completion of the Reserve at Saratoga Springs will help ensure we can meet the housing and service needs of the Capital Region. I am proud that this development will create much-needed affordable housing in Saratoga Springs, and I remain committed to removing barriers to affordable and accessible housing for all New Yorkers.”
Representative Paul Tonko stated: “The completion of this project is an important step toward ensuring that every family here in our Capital Region has a safe, affordable place to call home. Thanks to the combined contributions of local, state, and federal authorities — including over $28 million in equity from Federal Low-Income Housing Tax Credit Programs — this new development is making more than 200 apartments available at a time when need for affordable housing is greater than ever. These energy-efficient units…will provide an opportunity for hundreds of families to live sustainably…for generations.”
Assemblymember Carrie Woerner said: “This project represents a strong collaboration between state and local governments and private sector…I appreciate that Governor Hochul has prioritized building workforce housing in Saratoga Springs…”
City Mayor John Safford remarked on progress made locally: “The success of our affordable/workforce housing initiative is almost breathtaking…We have over 1800 units already on books…Cooperation between City…and staff; notably Michael Dutre & Katie Tiedemann has been outstanding.”
Jonathan Gertman from NRP Group added: “The NRP Group is proud…to help New York achieve its ambitious goals…We applaud Governor’s ambitious agenda…”
Governor Hochul’s broader plan includes measures such as tax incentives for developers along with capital funding increases as part of recent budgets passed by lawmakers ([source](https://www.governor.ny.gov/news/governor-hochul-announces-landmark-housing-agreement-fy-2025-budget)). These initiatives are designed both as short-term responses—like pilot voucher programs—and long-term strategies aimed at creating or preserving tens of thousands more homes statewide ([source](https://hcr.ny.gov/news/governor-hochuls-five-year-25-billion-housing-plan-track-create-or-preserve-100000-affordable)). To date over 65,000 homes have been created or preserved under these plans.
Saratoga Springs itself benefits from participation in pro-housing programs which give certified localities exclusive access up to $750 million in discretionary funding ([source](https://www.governor.ny.gov/news/governor-hochul-announces-additional-communities-receive-pro-housing-community-certification)). Currently there are 350 such certified communities statewide.
