Ticonderoga Plans to make the former Moses Ludington Hospital a senior citizen housing complex will move forward.
Liberty Affordable Housing Inc. and Inter-Lakes Health have announced they have received funding for the $7 million project that will turn the now-vacant facility into 31 one-bedroom units for low-income seniors. It will be called Moses Circle Senior Apartments.
Construction is scheduled to begin in May 2012.
Liberty and Ti officials began working on the project in 2006. The process included an Adirondack Park Agency map change in 2007 that made the project exempt from Adirondack Park Agency oversight. Previous funding requests had been denied.
The old MLH building is owned by Inter-Lakes Health, which owns and operates the current hospital, nursing home and adjacent Lord Howe Estates senior housing complex.
The plan is for the senior apartments to be operated by CRM Rental management, a division of Liberty, which now operates Lord Howe Estates in conjunction with Inter-Lakes Health.
“Moses Circle Senior Apartments is moving forward thanks to the support of Sharon Reynolds from PRIDE of Ticonderoga, town of Ticonderoga Supervisor Debra Malaney and former Supervisor Robert Dedrick,” said Rich Gordon, Liberty regional property manager. “New York State Sen. Betty Little and Assemblywoman Teresa Sayward have been strong advocates of the project since its inception. In addition, Congressmen Chris Gibson and Bill Owens have backed the project, along with U.S. Sen. Kirsten Gillibrand.”
Moses Circle Senior Apartments is one of 35 projects chosen statewide to receive funding to build and preserve affordable housing under New York State Homes and Community Renewal’s competitive 2011 Unified Funding round.
Funding for the project is through New York State Homes and Community Renewal with a $1.36 million low-interest HOME loan and an allocation of federal low-income housing tax credits. The tax credits will be converted to a private equity investment of $5.66 million.