FOR IMMEDIATE RELEASE

May 1, 2023

Mayor Noble Announces Historic Conversion of Stony Run to Affordable and Workforce Housing

KINGSTON, NY – Mayor Steven T. Noble is pleased to announce that he has finalized the regulatory agreement to convert the Stony Run apartment complex to affordable and workforce housing.

Mayor Noble said, “Since we first proposed the concept of Stony Run converting from a market-rate housing complex to a regulated workforce housing complex, I have worked to bring all parties together to understand the process, the impacts to tenants, and the importance of creating 266 additional units of affordable housing in the City of Kingston.

“Today, I am happy to report that, through thoughtful and deliberate discussions, all parties involved have come to a resolution that will benefit the residents of Stony Run and our entire community. Our agreement includes both an updated regulatory agreement as well as a memorandum of agreement (MOA) between the City and the property owners. With this agreement, Stony Run will become the largest affordable and workforce private housing complex in the City of Kingston and Ulster County.”

With this agreement, Stony Run will have income restrictions in place for future tenants:

10% of apartments capped at 110% of AMI*

15% of apartments capped at 100% of AMI*

20% of apartments capped at 90% of AMI*

55% of apartments capped at 80% of AMI*

*Affordable and workforce defined by HUD

Since working with the Stony Run Tenants Union, changes to the original agreement include requiring a municipal preference program so that Kingston residents have access to these below market rate apartments, and the creation of a mandatory Stony Run Resident Board that will include three representatives of the property owners and two tenant representatives elected by the tenants.

Additionally, the agreement:

- Is binding for 40 years

- Keeps the Emergency Tenant Protection Act (ETPA) in place while our housing emergency is in effect

- Ban short-term rentals

- Allows for up to 50 units of supportive housing for individuals making 60% AMI or less

- Protects current tenants from income requirements

- Requires $66,500 to be placed annually in the Replacement Reserve for emergency repairs

- Forbids denial of Section 8 vouchers

- Requires that residents of Stony Run and the City Comptroller will receive a report detailing all ongoing capital-related projects for the initial 12 months of the agreement.

- Restricts the property owner from applying for HUD/HCR major capital improvement increases, unless approved by the Comptroller

Mayor Noble said, “I want to thank the Stony Run Tenants Union for their openness and their readiness to work together for a common goal. I want to thank AKER for their willingness to hear the requests of the tenants and do their best, within the law and the agreement’s framework, to meet those requests. I also want to thank the Common Council members who worked with me to make sure that accurate information was shared with our community about this agreement.”

Stony Run Tenants Union said, “The voices of the Tenants Union, other Kingston residents, the Mayor and the Common Council have gone into this agreement to convert Stony Run to workforce affordable housing. Through our many burning struggles, we, the Tenants Union here at Stony Run, are extremely happy about the time and consideration that was committed to including some of our provisions to be written into the regulatory agreement. Tenant organizing has made this conversion so much better. It is our hope that it is replicated in other housing units that face similar problems and we encourage tenants to organize. We feel this is a win for Stony Run and we are very thankful to Mayor Noble for negotiating on our behalf.”

The documents are awaiting final approval by the necessary parties with an expectation that all approvals will be finalized in the next 60 days.

Mayor Noble established the Department of Housing Initiatives in 2020 to support housing planning in the City of Kingston. The Department manages housing-related grants, supports the construction of new market-rate and affordable housing, develops policies to protect existing residents, and addresses the connection between housing and sustainability, health, and mobility. The Department also reviews the disposition of city-owned property suitable for housing development and collaborates with local and regional housing organizations. Current projects include city-wide rezoning efforts, the Right to Counsel program, the Tiny Homes Project, short-term rental guidelines and many more. Visit https://kingston-ny.gov/housing.