Saratoga County is one of the fastest-growing regions of New York and soon Saratoga Springs will have more available housing units to support the city’s growing workforce.
Beacon Communities and the Saratoga Springs Housing Authority announced a $42.8 million project this month to demolish six buildings on Allen Drive that make up 24 units.
The organizations plan to construct six three-story buildings in their place, a mix of 98 one- two- and three-bedroom units.
Saratoga Springs Housing Authority Executive Director Paul Feldman says nearly 40 of those units will be prioritized for people working in the Capital Region.
“Most people who know Saratoga Springs knows it’s really, primarily, a hospitality and travel and tourism destination. And many of the businesses are like restaurants, and retail and hotels and things like that. And a lot of people who work in those places don’t make a lot of money and to be able to afford a market-rate apartment in Saratoga Springs is impossible, they’d be paying 60-70% of their income,” said Feldman.
Rent for the workforce-prioritized units will cost roughly 30% of a renter’s monthly income.
With the completion of this project, Feldman says the Housing Authority will manage and own around 350 affordable units.
A recent Saratoga Chamber of Commerce economic report found that median home sale prices in the county rose more than 6% from 2023 to 2024, sitting roughly at $436,000.
Chamber President Todd Shimkus says creating more affordable housing options is a priority.
“The reality is that the median sales price of a home now across Saratoga County is over $400,000 and within the city it’s over $600,000. And if we don’t do something about adding affordable housing, workforce housing to the mix of what’s available here, that will be detrimental to our economy. We have to provide opportunities for people to be able to afford to live in the same community where they work,” said Shimkus.
A 2016 housing study commissioned by the city found 80% of renters struggle with housing costs.
Republican Mayor John Safford says additional units of workforce housing will help the city grow and attract young residents.
“We're very excited about a project that is really oriented for folks like yourself or nurses or city workers. Just working with the state to make sure that it's designed to actually help young people like yourself get a place to stay in Saratoga," said Safford.
The project is being funded by bonds from the New York state Division of Housing and Community Renewal as well as federal and state low-income housing tax credits.
In 2023, a project to build 202 affordable units on the city’s west side received more than $60 million in state funding.
Shimkus says he wants to see more support for similar projects.
“What we really need the state to do is to be way more flexible. This is not something that can be solved by housing authorities alone or by non-profits. This is going to take everybody. It’s a challenege everywhere across New York state, particularly in areas like ours whee our economy is growing. And we’ve got to have New York state work more closely with private developers that want to provide the same type of housing that the Housing Authority is looking to do here,” said Shimkus.
Beacon Communities Development Director Dan Bellgraph says this project was easy to sign on to.
“It’s in an area with a growing economy, a thriving economy, access to great schools, and it’s an area where a lot of the people who work in the area can’t afford to live there and take advantage of the amenities in the community. So, it’s exciting for me and it’s exciting for Beacon just to be able to do a project like this in an area where we should be doing more affordable and workforce housing projects,” said Bellgraph.
Leasing is set to being in 2026.