Four New York Historic Properties Restored for Housing

New investment projects have created 156 affordable apartments across four upstate New York cities.

Updated on Sept. 29, 2026 in Commercial

Four New York Historic Properties Restored for Housing

Live Poll

Do you believe public-private partnerships are an effective way to increase affordable housing in your community?

Foss & Company has closed financing for four historic rehabilitation projects in New York, resulting in the creation or preservation of 156 affordable housing units. The projects are located in Buffalo, Albany, Fredonia, and Kingston.

Why it matters

These investments address persistent financing gaps in small-scale rehabilitation projects that tax credit equity alone often fails to cover. By targeting mid-sized buildings, this initiative preserves local historic structures while expanding affordable inventory.

The developments include 28 units at the Eckhardt Building, 49 units at the Selfridge & Langford Building, 40 units at 343 Central, and 39 units at 80 Washington St. The Eckhardt Building additionally provides 22,000 square feet of commercial space.

The players

Foss & Company

An investment firm that specializes in tax-advantaged financing for historic rehabilitation and affordable housing development.

The details

The projects utilize the Small Building Participation Loan Program to provide low-interest financing for adaptive reuse. By pairing this funding with state and federal Historic Tax Credits, developers can bridge funding gaps that otherwise stall the rehabilitation of mid-sized buildings. Construction is already complete on the Eckhardt Building in Buffalo, demonstrating the efficacy of this combined financing model for older, small-scale assets.

September 29, 2026: Article publication date.

The Home Front

These projects represent a shift toward revitalizing mid-sized historic buildings through targeted public-private financing. This model highlights an ongoing regulatory effort to keep smaller, older properties viable for modern, rent-restricted housing.

Residents in Buffalo, Albany, Fredonia, and Kingston can monitor their local city planning websites to track when newly rehabilitated affordable units become available for application. Consider checking if similar historic preservation initiatives in your neighborhood offer income-restricted housing options.

The takeaway

This initiative proves that combining low-interest loans with historic tax credits can turn obsolete commercial buildings into viable affordable housing. Interested renters should check with local housing authorities for updates on unit availability in these four historic properties.