Hudson Pointe Apartments

90 Grand Street, Newburgh, NY 12550
Status: Available
Year Built: 1929
Price: UNPRICED
# of Units: 65
# of Buildings: 1
# of Stories: 8
Rentable SF: 32,393
Lot Size: 0.36 Acres

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Quick Stats:

  • LIHTC Property for Seniors Aged 55 and Older in the Newburgh Community, Located 60 miles North of New York City
  • Property is Located within an Opportunity Zone
  • Affordable Housing Restrictions Expire in 2028
  • Newburgh is the Largest Historic District in the State and Nestles along the Hudson River Bringing in Waves of Tourists Throughout the Year
  • Residents of the Property Benefit from a Plethora of Community Amenities, Including a Fitness Center, Community Room, and Courtyard Area

Description:

Hudson Pointe is a 65-unit affordable housing community for seniors 55 and older located in historic downtown Newburgh, NY. Residents enjoy access to major shopping areas, dining, and health care facilities, as well as views of the Hudson River. The well-established Newburgh neighborhood is located only 60 miles north of New York City, and 90 miles south of Albany.

The property was built 1929 and rehabbed and placed in service in 1998 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% and 60% of Area Medium Income (AMI) limits, which are provided by the New York State Housing Finance Agency. The property is beyond its initial tax credit compliance period.

Dedicated and formally opened in June of 1930, the Hotel Washington became the mainstay of government officials, powerful corporate bigwigs, and the wealthy with 148 elegant rooms. The original name was Hotel Newburgh, but the public was asked for names and of the 1,026 entries, 367 mentioned Washington, and 76 actually offered Hotel Washington, with the original name getting only 14 endorsements. Now dedicated as Hudson Pointe Apartments for seniors, the historic building offers studio and one bedroom apartments with standard features that include an all electric kitchen, ceiling fans, and extra storage. Residents benefit from community amenities such as a fitness center, courtyard, community room, gated off street parking, controlled access, business center, elevators, and a laundry facility.

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