RSS has proposed to develop Colonie Hills, a $30 million, integrated supportive and workforce housing development that would be a first-of-its-kind in the Capital Region.
The project would be located at 179 Troy-Schenectady Road in the Town of Colonie and would include 13 residential units containing 128 high-quality apartments, handicapped adaptable for vision, hearing and mobility impaired, as well as a community center.
We intentionally incorporated a campus-style design that is intended to foster a strong sense of community for seniors, working families, veterans and individuals with special needs.
Funding for the project would come from a combination of sources including capital dollars from NYS Office of Mental Health and tax credits from NYS Homes and Community Renewal.
Colonie Hills will be on the tax rolls and pay real estate taxes. Real Property Tax Law 581-A dictates that the assessed value must take into consideration the affordable aspect of the project.