Rockland County Unveils $13.5 Million in Housing Action Loan Opportunity Awards
NEW CITY, NY—Rockland County Executive Ed Day, alongside the Office of Community Development, County Legislators, award recipients, municipal leaders, and more, officially announced the four Housing Action Loan Opportunity (HALO) Awards involving up to $13.5 million in loans on Jan. 31.
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 funds for future housing opportunities.
The first award is a $3-million HALO loan for predevelopment in support of Pennrose NY LLC to redevelop the former Haverstraw Chair Factory along the Hudson River to create 308 affordable units.
The project breakdown includes: 64 units at 30% AMI (Area Median Income) or below; 93 units at 60% AMI or below; 78 units at 80% AMI or below; nine units at 90% AMI or below; 43 units at 110% AMI or below and 17 units at 130% AMI or below.
The second award is an up to $3-million HALO loan to Westhab, Inc. in support of developing a vacant lot located at 30 West St. in Haverstraw for an 81-unit affordable rental project for qualified low-income renters at 60% AMI or below. The third HALO loan is for $2.5 million 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.
“This is a monumental step forward in our ongoing efforts to address Rockland’s housing crisis. The HALO 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,” said County Executive Day. “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.”
The HALO program, unanimously approved by the County Legislature in April 2024, was one of several key recommendations to the County of Rockland in its first-ever comprehensive community and housing needs assessment, as a method to address the housing crisis.