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Community Need

COMMUNITY NEED


We are enjoying an economic renaissance in the Capital Region. Our high-tech industry is a global jewel, bringing with it newfound opportunities. Our government, health care and higher education sectors are strong anchors that sustain the growing economy.

Colonie is one of the 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 impact and providing jobs within the community.

At the same time, there are people in our community – a number of whom comprise a significant portion of the workforce of those establishments – who face financial challenges. They include seniors, working families, veterans and individuals with special needs. We believe everyone deserves to share in our community’s exciting future and we are determined not to leave anyone behind.

There is a particular need for economical, supportive housing in Albany County, as current occupancy rates are nearing capacity. An independent market analysis commissioned by Kearney Realty & Development Group confirms the demand for supportive and workforce housing in the area. Colonie’s housing market is relatively unaffordable for low and moderate-income households. In fact, the very first goal in the town’s strategic plan is to “increase the inventory of affordable housing units.”

More information can be found in the full report:

https://www.colonie.org/departments/communitydev/documents/StrategicPlanNarrativeFinal.pdf