FOR IMMEDIATE RELEASE
May 27, 2025
Mayor Noble Announces Launch of Housing Nonprofit
KINGSTON, NY – Mayor Steven T. Noble is pleased to announce that the City of Kingston will launch a new nonprofit public enterprise to spur the development of publicly-owned affordable and mixed-income housing.
The City of Kingston developed this model in partnership with the Center for Public Enterprise, a national nonprofit that supports public agencies on development programs in the housing sector. The nonprofit will provide construction loans from a revolving loan fund to help projects through the construction phase. The model does not rely on the low-income housing tax credit program, vouchers, or any other scarce state and federal grants to be successful.
Mayor Noble said, “We believe instituting this new, innovative model of mixed-income housing at the local level will put us at the forefront of combating the housing crisis. Implementing this model will allow us to leverage resources that will close the gap and will help create more housing in our community.”
This model is based on proven successes from other jurisdictions that have implemented the model, most notably the Housing Opportunities Commission in Montgomery County, Maryland, the Atlanta Urban Development Corporation, and the City of Chattanooga. Collectively, this program has supported over 5,000 units that have been built or are currently in predevelopment.
Under this mixed-income public development model, the City will provide low-interest construction loans in exchange for public ownership and permanent affordability. A typical project supported by this model will include a dedicated mix of deeply affordable units at 50% area median income, affordable units at below 80% area median income, and market-rate units.
“I’m thrilled that the City of Kingston has explored how it would take a more direct role in stimulating mixed-income housing development. As I’ve stated before, this model is a clear win-win: The City will create deeply affordable housing units with a minimal amount of public equity investment while a developer is able to overcome traditional financing challenges to get a project built,” said Bartek Starodaj, Director of Housing Initiatives. “I look forward to working with the rest of the Administration and the Common Council on next steps.”
In Governor Hochul’s 2026 Budget, $50 million has been designated to promote mixed income housing development in Upstate communities. The 2026 Budget complements the Governor’s housing package passed last year and her continued efforts to create or preserve 100,000 affordable homes in five years.
The Director of Housing Initiatives will present this model to the Common Council’s Community Development and Housing Committee on May 27, 2025.
The Center for Public Enterprise focuses on broadening the public sector’s capacity to deliver economic development through publishing original research and policy innovations, and by partnering directly with public agencies on designing and implementing development programs. CPE works with local, state, and federal government agencies, as well as advocacy organizations, researchers, and academics to support successful design and implementation of public development programs.
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. Visit https://kingston-ny.gov/housing.