NYS HFA approves $9.3m mortgage to build 88 units of affordable housing

The board of the NYS Housing Finance Agency (HFA) has approved $9.3 million in financing for the construction of the Brookside II Apartments with 88 units of affordable housing. Brookside II Apartments will consist of 11 two-story buildings at 2883 Conifer Dr. The total cost of Brookside II Apartments is $12.7 million. HFA is providing a $6.5 million mortgage and a $2.8 million low-interest second mortgage. The project will receive an annual allocation of $389,241 in Federal Low Income Housing Tax Credits and a $3 million loan from the NYS Housing Trust Fund Homes for Working Families. The borrower will be Brookside Associates II, which is controlled by Conifer Realty, LLC.