Constructing 39 new energy efficient units of affordable housing and a community building in seven structures on the side of a very steep hill was no easy feat. It required several months of blasting and trucking, very careful design and engineering, a mix of financing from a variety of sources and a well qualified development team.The total development cost is approximately 7.4 million dollars with financing provided by the NYS Housing Trust Fund, NYS Low Income Housing Tax Credits, Neighborhood Housing Services of America-CDFI, City of Ithaca’s Urban Renewal Agency, NeigbhorWorks® America and the Federal Home Loan Bank through M&T Bank.
310 Floral Ave
Cedar Creek is designed to serve a mix of family types with 44% of the units serving large families in 3 bedroom units, 38% designed as 2 bedroom units and 18% as 1 bedroom units. 15% of the units are fully accessible with an additional 13% fully adaptable. All of the units target families at or below 50% of AMI with five units targeting families below 30%.