Richard Gordon explains plans to make the former Moses Ludington Hospital a senior citizen housing complex. Liberty Affordable Housing Inc. and Inter-Lakes Health have announced they have received funding for the $7 million project that will turn the now-vacant facility into 31 one-bedroom units for low-income seniors. It will be called Moses Circle Senior Apartments.
Plans to make the former Moses Ludington Hospital a senior citizen housing complex will move forward.
Liberty Affordable Housing Inc. and Inter-Lakes Health have announced they have received funding for the $7 million project that will turn the now-vacant facility into 31 one-bedroom units for low-income seniors. It will be called Moses Circle Senior Apartments.
Construction is scheduled to begin in May 2012.
Liberty and Ti officials began working on the project in 2006. The process included an Adirondack Park Agency map change in 2007 that made the project exempt from Adirondack Park Agency oversight. Previous funding requests had been denied.
The old MLH building is owned by Inter-Lakes Health, which owns and operates the current hospital, nursing home and adjacent Lord Howe Estates senior housing complex.
The plan is for the senior apartments to be operated by CRM Rental management, a division of Liberty, which now operates Lord Howe Estates in conjunction with Inter-Lakes Health.
“Moses Circle Senior Apartments is moving forward thanks to the support of Sharon Reynolds from PRIDE of Ticonderoga, town of Ticonderoga Supervisor Debra Malaney and former Supervisor Robert Dedrick,” said Rich Gordon, Liberty regional property manager. “New York State Sen. Betty Little and Assemblywoman Teresa Sayward have been strong advocates of the project since its inception. In addition, Congressmen Chris Gibson and Bill Owens have backed the project, along with U.S. Sen. Kirsten Gillibrand.”
Moses Circle Senior Apartments is one of 35 projects chosen statewide to receive funding to build and preserve affordable housing under New York State Homes and Community Renewal’s competitive 2011 Unified Funding round.
Funding for the project is through New York State Homes and Community Renewal with a $1.36 million low-interest HOME loan and an allocation of federal low-income housing tax credits. The tax credits will be converted to a private equity investment of $5.66 million.
“Project financing is anticipated to close in late April 2012 allowing for construction to start in May,” Gordon said. “The renovations will be completed within 18 months with rent-up to occur in the fall of 2013.”
Moses Circle Senior Apartments will include modern, energy efficient apartments with central air conditioning and EnergyStar appliances. The building will include an elevator, large community room with kitchen, outdoor covered portico overlooking Moses Circle, a computer room, laundry facilities and management office. The entire building will be handicap accessible with four units fully adapted for people with mobility impairments.
The project will include onsite parking, new landscaping with seating areas and a walking path surrounding the building that will also connect to the crosswalks on Montcalm Avenue.
Liberty Affordable Housing Inc. is a not-for-profit developer with over 1,200 units of quality affordable housing across New York State.