Kingston City Land Bank Announces Opportunity To Purchase Two More Affordable Single-Family Homes

January 16, 2023

FOR IMMEDIATE RELEASE

Kingston, NY – The Kingston City Land Bank (KCLB) is pleased to announce the opportunity to purchase two fully renovated, affordable single-family homes located at 237 E. Union Street and 63 German Street. These 3-bedroom homes are currently undergoing extensive renovations, including energy efficiency upgrades and new windows, kitchens, bathrooms and heating/cooling systems. Construction is expected to be completed by July 2023.

These two homes are part of New York State’s Legacy Cities ACCESS Program. Both homes were formerly vacant properties foreclosed on by the City and purchased by the KCLB for the full price of back taxes.

“As the first organization to utilize the Legacy Cities ACCESS program, we are excited to offer these beautifully renovated homes to the community at an affordable price,” says Bob Dennison, Chair of the KCLB’s Acquisition, Disposition and Construction Committee. “We believe everyone deserves the opportunity to own a home, and we are committed to making that dream a reality for as many people in our community as possible. We also recognize and appreciate the legislature and Governor for creating this amazing program.”

“For two years the KCLB has worked faithfully towards this moment: the opportunity to offer two wonderful homes for sale below market-rate,” says Aron Chilewich, Chair of the KCLB’s Communications and Fundraising Committee. “We look forward to spreading the word of our marketing campaign to prospective buyers and, later this year, to proudly handing over the keys to the homes’ new owners.”

“We congratulate the Kingston City Land Bank on moving swiftly to implement their recently announced Legacy Cities Access grant, and thank the NYS Division of Homes & Community Renewal for continuing to invest in Kingston,” says Kingston Mayor Steve Noble. “I am so pleased to see the Land Bank work so diligently to transform these formerly vacant houses into beautiful homes and look forward to seeing them sold to first-time homebuyers from the community.”

“This is a golden opportunity,” says Alderman Steve Schabot, Alderman for Ward 8. “In my district and our City, owning an affordable home has become increasingly difficult. I look forward to seeing these properties returned to productive use for our community.”

Homes are available to first-time homebuyers, and each home will have a maximum cash purchase price of $194,995.* Homeownership Counseling will be provided by PathStone of Newburgh. The homes will be sold through a lottery system, and the application period will end on March 18, 2023. First-time homebuyers interested in learning more about the opportunity and starting an application can begin the process by visiting KCLB.org/homes.

maxiumum household income for qaulification infographic: 3 ($69,120), 4 ($76,800) 5 ($82,960), 6 ($89120)

Click HERE for our public notice flyer in English and Spanish. Click HERE for our planned finishes, floor plans and historical photos!

*Cash Purchase Price is dependent on numerous factors including but not limited to final interest rate, NYS HCR down payment assistance, and additional subsidies, and including enforcement debt, based on credit and due diligence factors and all subject to qualifications and availability.

**Income limits set using 2022 Area Median Income figures for Ulster County

The Kingston City Land Bank was formed in collaboration with the City of Kingston for the purpose of acquiring title to tax-foreclosed and other distressed properties, removing barriers to redevelopment, and returning properties to the tax rolls. Our mission is to foster an equitable community where vacant or distressed properties are transformed into community assets that improve the quality of life for Kingston residents, stabilize and enhance neighborhoods, and create new pathways for social and economic development.

For more information about the KCLB and to join our mailing list for updates, visit KCLB.org and follow us on Instagram at @kingstoncitylandbank