CPC closes $2.4 million permanent, Loan for supportive housing rehab, SVP Olcott structured the loan for 116 units

The Community Preservation Corporation (CPC) has closed a $2.4 million permanent loan to renovate 116 units of supportive housing at Hudson River Lodge. Operated by Hudson River Housing, the Hudson River Lodge is the primary emergency homeless and transitional housing facility for Dutchess County. "Hudson River Lodge is an essential part of the Dutchess County community, helping to stabilize families and ultimately enabling them to seek more permanent housing options and end the cycle of homelessness," said Doug Olcott, senior vice president and Hudson Valley regional director, CPC. "This project is an excellent example of CPC's commitment to financing supportive housing that will help families to get back on their feet, and we remain invested in both their future and the future of Dutchess County." Located at 389 Manchester Rd. in LaGrange, Hudson River Lodge is divided into two parts: a 100-unit, single-room occupancy bldg., and a 16-unit townhouse complex. Since 2005, the building, Gannett House, has served as the primary emergency homeless and transitional housing facility for Dutchess County and is sponsored by the Dutchess County department of social services (DSS), the New York State office of temporary and disability assistance (OTDA) and the New York State department of health (DOH). The 16 townhouse units are permanent housing units.