The Turnaround: Housing Authority, Developer Team Up to Revitalize Troubled Property

By Caitlin Jones
September 27, 2011 0 min read

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Tax Credit Advisor, September 2011: It doesn’t happen often. But sometimes you develop a housing project that makes an entire community whole again — totally healthy.

That’s what has happened in Watervliet, a blue-collar city of about 9,000 people in Upstate New York, just outside Albany.

In June, the local housing authority and a for-profit developer held a ribbon-cutting for Van Rensselaer Village, an 81-unit affordable garden apartment community for families that they renovated and revitalized using federal low-income housing tax credits, other funds — and a lot of grit and determination. Read More…