COMMUNITY NEED

Colonie is one of the Capital Region’s fastest-growing towns. New retail stores, hospitality and entertainment venues, and dining establishments – including many that have a national presence – are generating economic activity and providing jobs within the community.

At the same time, a growing number of people — including a significant portion of the workforce needed to support the expanding business community — are facing financial challenges. The economic impact of the COVID-19 pandemic has only intensified that situation. In particular, the rising cost of housing is putting additional pressure on essential workers, seniors, veterans, the disabled, and others facing challenging life circumstances. 

There is a demonstrated need for affordable housing in Colonie and throughout Albany County, as confirmed by an independent market analysis commissioned by Kearney Realty & Development Group. Further, Colonie’s housing market is relatively unaffordable for low- and moderate-income households, even as the very first goal in the town’s strategic plan is to “increase the inventory of affordable housing units.”

Download the full report here.

The Colonie Hills Housing Development aims to address this vital community need.