Affordable housing in Troy was not that easy
Troy Rehabilitation and Improvement Program and the nonprofit Unity House took six years, raising and spending $18 million, along with support from federal and state governments to construct 51 affordable apartments in Troy's North Central neighborhood, the Albany Business Journal says. The apartments, which rent to people at or below 60% of Area Median Income, are spread across eight lots. The groups had to get buy-in from multiple neighbors, to build funding support including a $13 million loan from NBT Bank, and apply for tax credits among other hurdles. People are already moving in, and those involved say the need is there for more units.
Residential real estate shortage continues
The inventory of homes for sale in the Albany region fell to 1,387 units in April, just 48.5% of what it was April 2021, the Albany Business Journal is reporting. A normal market has six or seven months of inventory, but the area now is under two months, the story says. This has driven more people to pre-qualify for loans so that they can make a serious offer more quickly and has driven the average price, according to Trust Co. bank, from $300,000 to $350,000, the story says.
Real Estate heat map shows the biggest gains
A story in the Times Union shows which municipalities have gained the most residential real estate value over the past year. The map shows costs for residential housing from light to dark blue, and clicking on a locality shows the ZIP code, the price and the percentage increase. Saratoga Springs is up 12%. Glens Falls is up 26%, and Lake George is up 30% over last year. The TU took the numbers from the Zillow housing app.
Jean Lapper may face Stec in the 45th
Democratic leadership in Queensbury told the Post-Star that Jean Lapper is not sure if she will run against Republican Senator Dan Stec in the state’s new 45th Senate District. This, even though the party is collecting signatures to get her on the ballot if she chooses to run, the story says. The election district maps changed last month, and the deadline to file nomination petitions is June 10.
Skidmore part-time and non-tenure-track faculty will vote to unionize this fall
A decision from the National Labor Relations Board last week opens the way for Skidmore College’s non-tenure track faculty to vote to create a labor union on campus, the Times Union reported yesterday. Part-time faculty will vote this fall whether to join SEIU Local 200 United. Non-tenure track full-time faculty will vote in a separate election. Voting will be held by mail from Sept. 12 to 26.