A new affordable housing development, the Reserve at Saratoga Springs, has been completed in Saratoga Springs, New York. The $78 million project consists of 202 affordable and supportive apartments spread across 12 buildings, located about a mile from the city’s downtown area. This initiative is part of ongoing efforts by New York State Homes and Community Renewal to expand affordable housing in Saratoga County, with nearly 900 homes financed in the region so far.
Governor Kathy Hochul stated, “The Capital Region’s continued growth has created a high demand housing market, particularly in vibrant communities with high-performing schools like Saratoga County. This development delivers more than 200 energy-efficient, affordable homes in the heart of Saratoga Springs and will support the area’s workforce for years to come, proving that clean, affordable all-electric housing isn’t just possible, it’s happening right here in New York State.”
The apartments are designated for households earning up to 60 percent of the Area Median Income. The NRP Group served as developer for the project. The complex was built on previously unused wetland space and includes multifamily buildings and townhouses designed to fit into the neighborhood’s character. City rezoning facilitated the construction by promoting local housing growth.
The Reserve at Saratoga Springs features all-electric infrastructure aimed at energy efficiency. Units include ENERGY STAR appliances and lighting fixtures, insulated walls, green label flooring, and high-efficiency water heaters.
Funding sources for the project included over $28 million from state and federal Low-Income Housing Tax Credit Programs and $23 million from HCR subsidy. Additional support came from a $400,000 grant provided by the New York State Energy Research and Development Authority (NYSERDA), as well as a $567,000 construction refund from the city of Saratoga Springs. Operating funds for supportive apartments will be supplied through the Empire State Supportive Housing Initiative administered by the New York State Office of Temporary and Disability Assistance.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The Reserve at Saratoga Springs is a testament to New York State’s commitment to expanding access to high-quality, affordable housing. This transformative $78 million development not only provides 202 energy-efficient homes for Saratoga Springs families but also strengthens our communities by supporting Governor Hochul’s ambitious housing agenda to create and preserve 100,000 affordable homes across the state. By leveraging innovative financing and partnerships, we are ensuring that vibrant communities like Saratoga Springs remain accessible to our growing workforce.”
New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Projects like the Reserve at Saratoga Springs build upon New York’s efforts to expand affordable, healthy, and modern housing across the State. By incorporating clean technologies, these apartments will provide a highly efficient and comfortable living option to New Yorkers who need it most while also supporting the region’s growing workforce.”
Senator Charles Schumer commented on federal involvement: “Every family in Saratoga Springs deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to help build over 200 new units at the Reserve at Saratoga Springs. These newly constructed buildings will be energy-efficient, easily accessible to the CDTA and Amtrak. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul’s work increasing access to affordable housing in the Capital Region, and I will continue working to deliver federal resources to deliver more affordable housing across New York.”
Senator Kirsten Gillibrand added: “Expanding access to state-of-the-art, safe, and affordable housing is critical for all New Yorkers. The completion of the Reserve at Saratoga Springs will help ensure we can meet the housing and service needs of the Capital Region. I am proud that this development will create much-needed affordable housing in Saratoga Springs, and I remain committed to removing barriers to affordable and accessible housing for all New Yorkers.”
Representative Paul Tonko highlighted collaboration among various levels of government: “The completion of this project is an important step toward ensuring that every family here in our Capital Region has a safe, affordable place to call home. Thanks to the combined contributions of local, state, and federal authorities — including over $28 million in equity from the Federal Low-Income Housing Tax Credit Programs — this new development is making more than 200 apartments available at a time when the need for affordable housing is greater than ever. These energy-efficient units, located in close proximity to convenient public transportation options, will provide an opportunity for hundreds of families to live sustainably, safely, and affordably for generations to come.”
Assemblymember Carrie Woerner remarked on public-private cooperation: “This project represents a strong collaboration between state and local governments and the private sector. I appreciate that Governor Hochul has prioritized the building of workforce housing in Saratoga Springs, a city with a significant need for housing that is affordable for the workforce that supports our small businesses.”
City Mayor John Safford said about local progress: “The success of our affordable/workforce housing initiative is almost breathtaking. We have over 1800 units already on the books and previously built in Saratoga Springs. The cooperation between the City and the New York State Housing and Community Renewal and our excellent staff; notably Michael Dutre and Katie Tiedemann has been outstanding.”
Jonathan Gertman from NRP Group stated: “The NRP Group is proud to partner with Governor Hochul HCR [Homes & Community Renewal] https://hcr.ny.gov/press-release/2025-08-28/governor-hochul-unveils-more-200-new-affordable-apartments-saratoga-springs)and Goldman Sachs https://www.goldmansachs.com/)to help New York achieve its ambitious housing goals.The long term affordable rentsand stable high qualityhousing enjoyedbythe currentand futureresidentsofReserveatSaratogaSpringswouldnotbepossiblewithouttheState’sinvestmentinaffordablehousing.WeapplaudtheGovernor’sambitioushousingagendaandagreatfulfortheopportunitytoimprovethelivesofsomanyinSaratogaspringsbydevelopinganewinclusiveandvibrantresidentialneighborhood.”
Governor Hochul’s broader strategy includes several measures enacted through recent budgets aimed at increasing statewide supply through tax incentives capital funding renter protections voucher programsandpoliciestoimproveaffordabilityfor tenantsandhomebuyers.Thestatehasalreadycreatedorpreservedmorethan65000homesunderthisplan.LocalitiescertifiedunderthePro-HousingCommunityProgramgainexclusiveaccesstostatefundingincludingSaratogaSpringswhichisoneof350communitiesthatreceivedsuchcertification.
