Panel approves site plan for Watertown housing complex
WATERTOWN, New York (WWNY) - Developers are one step closer to building a large affordable housing complex on Watertown’s north side.
The city’s planning commission approved a site plan for the four-story, 61-unit apartment building on Main Avenue on Tuesday.
Neighbors of Watertown, which would manage the property, says it’s for low-income tenants and people dealing with substance abuse and mental health problems.
Next, the developers plan to look for ways to fund the $20 million project.
“Fifteen million dollars of it will be a tax credit, but the state could also give us a federal home loan bank,” Neighbors executive director Reginald Schweitzer said. “There’s multiple other sources that will stack right in with this. The state kind of has a toolbox of different funding sources that they can fund projects like this.”
Neighbors of Watertown will learn if it received the funding by early 2024.
They hope construction will begin next fall.
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