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Three Loan Recipients Will Boost Affordable Housing in Village of Haverstraw; Fourth Awardee Planning 52-Unit Project in Nanuet
By Tina Traster
In what could almost be described as a giddy atmosphere, Rockland County on Friday meted out a total of $13.5 million in revolving loans to four affordable housing developers. All told, the four developments would add 441 affordable units, and shore up 90 affordable senior apartments.
“This is a monumental step forward in our ongoing efforts to address Rockland’s housing crisis,” said Rockland County Executive Ed Day.
The need for affordable housing is dire countywide, affecting working class people, millennials, and seniors who are trying to sell homes and downsize. Three of the awardees’ projects are in the Village of Haverstraw, which has been a fierce champion of affordable housing for several years. However, two of the three recipients – the Chair Factory and Westhab Inc. – have been stymied for more than a year by Town of Haverstraw Supervisor Howard Phillips’ opposition to PILOT (Payment In Lieu of Taxes) agreements for affordable housing developments.
“This is a monumental step forward in our ongoing efforts to address Rockland’s housing crisis,” said Rockland County Executive Ed Day. “The HALO (Housing Action Loan Opportunity) program is not just about creating housing—it’s about building stronger, more stable communities by ensuring that hardworking Rockland residents have access to attainable homes. With the support of our partners and the dedication of our Office of Community Development, we are making real progress toward a brighter future for all.”
Pennrose NY LLC, which is redeveloping the former Haverstraw Chair Factory along the Hudson River, and Westhab, which is developing a vacant lot located at 30 West Street, each received $3 million loans. The Chair Factory calls for 405 units, 308 of which will be affordable. The Westhab plan envisions an 81-unit affordable rental project for qualified low-income renters at 60 percent AMI (area median income) or below.
“In the midst of a regional housing crisis, Rockland County is showing leadership by making the HALO funds available to developers to build housing that is affordable to the community,” said Andrew Germansky, Senior Vice President of Real Estate Westhab, Inc. “Our development is a testament to the value and impact of true public/private partnerships.”
A $2.5 million HALO loan was awarded to Sisters of Charity Housing Development Corporation to acquire and preserve an existing a 90-unit affordable rental development at 140 Route 9W for qualified low-income senior renters. Haverstraw Place Enterprises, the holding company for the Sisters, purchased the property for $8.1 million in December.
“Haverstraw Place is home to more than 90 seniors who will be able to age in place, remaining in their broader community because of the County’s investment,” said Matthew Janeczko, CEO & President of Sisters of Charity Housing Development Corporation.
Regan Development Company, a large regional affordable housing builder, received a $5 million loan via Nannawit Commons LLC for a site it plans to acquire at 250 South Middletown Road in Nanuet, south of the Main Street shopping corridor. The project calls for developing a 52-unit, 100 percent affordable, senior, rental project for qualified low-income renters at or below 80 percent AMI in Clarkstown.
“One of the goals of this development is to allow Rockland County seniors to sell their homes, retain the equity in those homes, and still stay in the community that they help to build where they have roots,” said Larry Regan, a company principal. “The goal is to have Rockland Seniors who are living on their retirement income, pensions or Social Security be able to live in a new affordable rental building that is high quality, energy efficient new construction in a walkable neighborhood with all amenities at their fingertips.”
Regan told RCBJ the company is in the process of applying to the Town of Clarkstown for planning and zoning approvals for the redevelopment the site.
The HALO fund provides direct loans to borrowers in support of the creation or preservation of housing that is attainable to the average Rockland resident, with proceeds from loan repayments flowing back into the fund for future housing opportunities. All projects will be consistent with the character of existing neighborhoods, according to the county. Loan applications were due this past summer.
The HALO program, unanimously approved by the County Legislature in April 2024, was among the recommendations to the County of Rockland after it conducted its first housing needs assessment to address the housing crisis.
So far, the County has closed on two of the four loans. The Sisters of Charity loan was for $2,500,000. The interest only loan runs through January 1, 2030, and carries a 2% interest rate, paid quarterly. The Pennrose loan was for $3,000,000, carries a 1% interest rate, paid quarterly, and runs through January 1, 2026.
The loans to Westhab and Regan Development Company are expected to close later in 2025, according to a county spokesperson.
There is a deficit of 4,230 affordable units for those making under $60,000 annually, according to the Rockland County Housing Needs Assessment, prepared by Pattern for Progress. The report says 57 percent of Rockland homes are single-family detached homes – unaffordable to the average resident. The single-family average sales price is $683,000. A median household income of nearly $100,000 can qualify for a $260,000 mortgage. And fewer than 2 percent of single-family homes sold are less than $300,000 according to the 2022 Multiple Listings Service.
The Village of Haverstraw has thrown its weight behind the $340 million Chair Factory project that will transform the fallow riverfront site and bring 450 housing units, 70 percent of which will be a combination of affordable and up to 40-year rent stabilized workforce housing.
However, the project is dependent upon PILOT (payment in lieu of taxes) incentives. The Village, Rockland County Industrial Development Agency (IDA) and the school district have all shown support for the plan. Phillips and the Haverstraw Town Board, however, are the only holdouts.
It remains unclear how the potential denial of PILOTs could impact Westhab and the Chair Factory projects.
Notably, Village of Haverstraw officials Mayor Michael Kohut and Village Trustee Richard Sena, Clarkstown’s Supervisor George Hoehmann, and county officials attended the press conference. Phillips, who was invited, was not present.
In October, the county declared the long-vacant and deteriorated Sain Building at 18 New Hempstead Road in New City, “surplus property,” which means that it has cleared the way for a sale and redevelopment into a mixed-use residential project.
The county is seeking a preferred developer to engage in a long-term lease or purchase of the 3.69-acre site and construct much needed “workforce” housing. Day has said the development must provide workforce housing, public green space, a buffer zone to protect neighbors, and fit with the character of the neighborhood. The Sain building sits on the corner of New Hempstead Road and North Main Street, across from the Rockland County Courthouse and administration building.
