Cayuga Meadows, affordable housing for seniors in Ithaca, NY has been approved!
"A long-delayed plan for affordable senior apartments has been funded through a state grant and is poised to begin construction later this year.
The Ithaca town board convened Monday night to discuss property easements required from Rochester-based Conifer Realty LLC as one of the stipulations of receiving a building permit for construction.
The 3-story, 68-unit apartment building, to be called "Cayuga Meadows", would be located on a grassy field directly south of the Overlook at West Hill apartment complex, east of Cayuga Medical Center. Final site plan approvals for the 58,500 square-foot project, a mix of of 1-bedroom and 2-bedroom units, were granted in November 2013. Although the land is Cornell-owned, the 4.8 acres the building will be built upon will be subdivided from the rest of Cornell's land, and the project will be on the tax rolls.
The units will be available to individuals aged 55 and older, with incomes 60% or less or the Area Median Income (AMI). AMI in Tompkins County is about $53,000 per household, so a qualifying senior household would have an annual income of $31,800 or less. 7 units will be accessible to mobility-impaired individuals, and 3 units will be designed to accommodate hearing or visually-impaired occupants.
Actual rents have not been released by Conifer, but a second senior housing project they recently built in Ithaca, West Hill's Conifer Village Apartments, charges $678-$864/month for a 1-bedroom unit, and $803-$979/month for a 2-bedroom unit, with income limits of up to $43,300/year for a single senior, and $49,600/year for a couple.
Conifer Realty owns and manages several local apartment complexes, including the Cayuga View Apartments (part of Linderman), Conifer Village at Ithaca, Ellis Hollow Apartments, Linderman Creek Apartments, and The Meadows Townhomes."
Brian Crandall, Staff Writer at The Ithaca Voice.