The U.S. Department of Housing and Urban Development announced it will grant $500,000 to rehabilitate a building in Monticello, New York.
HUD will rehabilitate the Strong Building at 430 Broadway in order to provide affordable housing units for low-income residents. The grant will be funded through HUD’s HOPE VI Main Street Program.
This program seeks to rejuvenate older, downtown business districts in small communities without changing the area’s traditional and historic character. It provides grants to be used for affordable housing in existing, obsolete buildings.
In order to be eligible for these grants, communities must have an ongoing Main Street revitalization effort.
“Main Street is the heart and soul of so many communities across our nation,” HUD Secretary Ben Carson said. “HUD is proud to support this public-private venture and breathe new life into a building that may have otherwise become forgotten history.”
The Strong Building, a three-story brick building on an intersection in the Village of Monticello’s business district. The building has been vacant for the past 10 years and currently has extensive water damage. An architectural assessment found that the exterior walls and foundation are sound, but demolition of the interior and replacement of the roof are necessary to retain its historic charm.
The grant will allow the building to improve these areas and construct it into 16 affordable housing units. The total development is estimated to cost $1.2 million.