Construction begins on affordable housing development in Tannersville

TANNERSVILLE, N.Y. (NEWS10)– Construction on an affordable housing complex, called Cold Spring Apartments, in Tannersville has begun. According to the New York State Homes and Community Renewal Commissioner Ruthanne Visnauskas, the housing development will include 56-units for seniors and local workers.

The project is part of a larger downtown revitalization initiative, creating housing that is critical for the Hunter Mountain-adjacent community. The project, developed by RUPCO, included demolishing the former Cold Spring Hotel and nearby vacant buildings to make space for the $31 million project.

According to RUPCO, the vision for Cold Spring Apartments began when the Hunter Foundation reached out to the organization to help address a growing crisis: local restaurants, retail shops, and Main Street boutiques in Tannersville were struggling to stay open more than three days a week due to a lack of affordable housing for workers. In response, Cold Spring Apartments was developed to provide much-needed workforce and senior housing.

“The apartments at Cold Spring directly respond to that need by providing high-quality, affordable homes for the local workforce and seniors,” RUPCO CEO Kevin O’Connor said. “With the support of Governor Hochul and our many funding partners, we’re not just creating housing—we’re strengthening Main Street, boosting the local economy, and investing in a more equitable and sustainable future for the Catskills.”

“Cold Spring Apartments marks a transformative step forward for Tannersville, turning a long-blighted site into a vibrant, energy-efficient community that residents will be proud to call home,” Gov. Kathy Hochul said.

The apartments will spread across three buildings, offering studios, one, two and three-bedroom units. According to RUPCO, 40 units will be available for households earning between 50% to 90% of the Area Median Income, 11 units will be available for area residents who work in Greene County and 15 units for residents over 55 earning up to 60% of the Area Median Income.

It will also feature a community center, a multipurpose room, a playground and gardens. Officials said the apartments will be designed to meet Passive House (PHIUS) standards, including a geothermal heat pump system for heating, cooling and hot water.

“Cold Spring Apartments demonstrates how communities across New York State can take advantage of blighted, vacant lots and introduce affordable housing opportunities that incorporate the latest high-performance energy saving technologies,” New York State Energy Research and Development Authority (NYSERDA) President and CEO Doreen M. Harris said. “Investing in efficient and resilient building solutions that meet the needs of all residents will not only improve quality of life, but also support meaningful progress toward revitalization efforts underway across the state.”

According to the New York Homes and Community Renewal, the project was funded through state and federal tax credit programs, clean energy funding, the state’s DRI program, Greene County and the Community Preservation Corporation. The project complements Hochul’s $25 billion five-year housing plan.

The village of Tannersville also received a state Pro-Housing certification.

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