Stonewood Village
CURRENTLY UNDER CONSTRUCTION
Stonewood Village is located on 44 acres in Henrietta, NY. Stonewood Village consists of 62 1-bedroom apartments contained within two elevator buildings that serve elderly and people with disabilities and 124 3-bedroom townhomes for families located in 31 buildings containing four townhomes each. The buildings were constructed in 1977 and include a swimming pool and small community room. The property was purchased in 1993 by Pathstone Housing Action Corporation and will be redeveloped to preserve a large number of affordable rental units. The redevelopment plan includes the following:
- Construction of a bridge between the two elderly buildings which will include new community space and office space
- Construction of two new units in the elderly buildings
- Construction of a community room for the family units located net to the pool house
- Construction of maintenance building
- Energy upgrades to include a energy star appliances, new insulation, new doors and sealing
- New roofs on all townhome units
- New kitchen cabinets and bathroom vanities, new hot water tanks, new flooring and interior doors for all units
- New patios and fencing
- Sidewalk replacement, paving of interior roads, upgraded landscaping
- New siding on all buildings
Project Details
| Development Type: |
Rehabilitation |
| Number of Units: |
188 |
| Type of housing: |
Family/Elderly |
| Total Development Cost: |
31.4 million |
| Financing: |
Tax exempt bonds, NY Homes, TCAP, Sponsor loan, Seller Note, existing reserves, 4% low income housing tax credits, deferred developement fee |
| Location: |
Henrietta, New York |
| Project Start: |
December 2009 |
| Project Complete: |
March 2011 |
| Development Role: |
Development Consultant |
| Unit Mix: |
64-1 br Apartments; 124-3 br Townhomes |
| Architect: |
NH Architecture, PC |
| Contractor: |
Nathaniel Development Corporation |
| Developer: |
Pathstone Housing Action Corporation |
| Owner: |
Stonewood Village, LLC |
| Investor: |
Hudson Housing LLC |
| Lender: |
NY Housing Finance Agency - Construction & Permanent; JP Morgan Chase - Letter of Credit |
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