Project in Cayuga Co. Begins Construction
Construction at INHS’s first development in Cayuga County is underway and is projected to be complete in early 2025!
Wheat Street Apartments, located in the Village of Cayuga at 255 Wheat Street and in partnership with the Gavras Center, includes the redevelopment of the former Cayuga Elementary School, a 40,000 sq. ft. school into 47 affordable housing units for low-to moderate-income households.
Thirty-one units will be in the former elementary school building, and 16 units will be located in three new townhome buildings constructed adjacent to the elementary school. Nine of the units are committed to individuals who have an intellectual or developmental disability.
Additionally, the funding sources used for the project require that all units be set aside for specific household income levels, based on the Area Median Income. For 2023, the Area Median Income for an individual in Cayuga County is $61,500. Forty-three are reserved for households with incomes at or below 50% of Area Median Income ($30,750 for an individual or $35,150 for a two-person household); and four units are reserved for households with income up to 70% of Area Median Income ($43,050 for an individual or $49,210 for a two-person household).
Applications will be available later this year. Email vneenan@ithacanhs.org with questions or submit your email here to receive notifications about applications and project updates. View the Wheat Street Apartments Fact Sheet here.
Please join INHS + Gavras Center on Tuesday, April 16, 2024 from 6-8 p.m. at Cayuga Onondaga BOCES (1879 W. Genesee St, Auburn) so we may answer any questions from the community. You can also visit ithacanhs.org/wheatstreetapts for an overview of the project.
The nearly $20 million project is funded by:
• Federal and State Low-Income Housing Tax Credit equity from Enterprise Community Partners
• construction loan from Key Bank NA
• NYS Homeless Housing and Assistance Program
• New York State Housing Trust Fund
• Office for People with Developmental Disabilities
• Capital Magnet Funds
• New York State Energy Research and Development Authority (NYSERDA)
