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An 11-acre plot of vacant land in Rome, NY, will soon be transformed into 250 affordable housing units and a community center for veterans and their families.
Thanks to a $2.5 million grant from the New York State Economic Development Council, the project, which is being developed by Human Technologies Corporation and Pennrose, will also include a 165-bed homeless shelter as well as a 71-bed transitional living facility in Pittsfield, Mass., reports the Rome Democrat and Chronicle.
The project, which is expected to create 30 jobs when it's completed, is part of a $34 million grant round for 23 economic development projects in New York.
"We are breaking ground on a new era of commercial development in New York," Gov.
Andrew Cuomo said in a statement.
"By taking a bottom-up approach to state investment, we're creating jobs and spurring growth that is revitalizing regions while building assets for future success."
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Selected Foundation News
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Foundation: Changemakers
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Foundation: Nebraska Community Foundation
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Social Entrepreneurship
Spotlight
Role Philanthropy Plays in Impact Investing
CEO of the Community Development Financial Institution (CDFI) Nonprofit Finance Fund and impact investment book author, Antony Bugg-Levine, explains the role of how philanthropy serves as a catalyst in impact investments.