100 Chenango Place

In 2010, Liberty Affordable Housing assumed ownership of ABC Housing Development Fund Company, Inc., with the Liberty Board replacing the ABC Board. Located in the City of Binghamton, Broome County, New York, 100 Chenango Place is a 144-unit low-income senior housing complex originally financed with an FHA insured Section 236 mortgage and featuring an 83-unit project-based Section 8 contract.

In November 2015, Liberty secured financing for a comprehensive renovation and preservation of the project. The funding package included Tax-Exempt Bonds, 4% Low-Income Housing Tax Credits, and Homes for Working Families funding through NYS HFA. NBT Bank, N.A. provided construction credit enhancement, while First Sterling served as the syndicator for the Federal Tax Credits. Additional funding sources included the current Reserve for Replacement Reserves, interim income, and other developer equity.

The rehabilitation, completed in December 2016, involved significant upgrades such as new kitchens, bathrooms, flooring, ENERGY STAR lighting and appliances, roofs, masonry repairs, new windows, and modernized elevators, ensuring improved living conditions and energy efficiency for residents.