The Kingston City Land Bank Completes Affordable Homeownership Pilot Program

April 11, 2024

The Kingston City Land Bank (KCLB) is proud to announce it has completed its five-home affordable homeownership Pilot Program. The final home in this program, 124 Franklin Street, had been vacant for 60 years. The property is now fully renovated, and the home will be sold this month to a first-time homebuyer for $210,066.

The Pilot Program commenced in mid-2020 when the KCLB purchased the first of five vacant single-family homes from the City of Kingston for the full price of back taxes with the goal of rehabilitating these homes and selling them affordably to first-time homebuyers.

Following a public RFP to select General Contractors, rehabilitation of the first three properties began in early 2021. These first three homes were fully renovated and sold that same year. Following construction completion, the homes were offered for sale to qualified applicants based on household size and income.

Construction commenced on the fourth home, 149 Greenkill, in 2022, and the home was also fully renovated and sold that year.

The rehabilitation of 124 Franklin commenced in early 2022. The scope of work included upgrades to structural, plumbing, and electrical systems, as well as new kitchens, baths, flooring, windows, and doors. The home received efficiency upgrades including insulation, Energy Star windows and appliances, and high efficiency electric mini-split systems for heating and cooling.

The general contractor for this work was Maeda Construction, a Certified MWBE General Contracting firm based in Staatsburg. Goldstein Hall provided legal counsel to the partnership. Homeownership Counseling services were provided by PathStone Community Improvement of Newburgh.

In 2023, the Kingston City Land Bank received a 2023 Excellence in Historic Preservation Award from the Preservation League of NYS for its renovation work under this program.

“The Pilot is complete, but our work has just begun,” says Mike Gilliard, Executive Director of the Kingston City Land Bank. “Thank you to our community for trusting us to follow through on our commitment to return vacant properties to productive use–regardless of the challenges along the way–and produce the most well-designed, affordable homes in Kingston.”

The KCLB currently has an additional 18 single-family homes either in active development or fully renovated and preparing for sale, with more in the pipeline.

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