The NRP Group Breaks Ground on Fully Affordable Housing Community in Albany County, New York

Selkirk Reserve is NRP’s second affordable housing project in the capital region, furthering its commitment to providing accessible housing to local families and individuals

The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with New York State Homes and Community Renewal (HCR) and nonprofit organization Soldier On has broken ground on Selkirk Reserve, a 72-unit, fully affordable housing community in Bethlehem, New York.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240212505219/en/

Rendering of Selkirk Reserve; courtesy of The NRP Group.

Located on a spacious 15.67-acre site, Selkirk Reserve (aka Hudson on Nine) consists of nine two-story, eight-plex buildings and a clubhouse. Built under the 9 percent tax credit program, the project marks NRP’s second affordable housing development in the region and will be solely owned and managed with on-site staff by the company.

"Selkirk Reserve is a testament to The NRP Group's unwavering commitment to addressing the pressing need for affordable housing in New York state,” said Jonathan Gertman, Senior Vice President of Development at NRP. “Through steadfast partnerships that have been the cornerstone of this project we overcame so many challenges - the kind of which are too often placed in the way of much-needed housing. As a result, we have the opportunity to change the lives of the families that will live in this Capital Region housing.”

Located less than 10 miles from downtown Albany at 939 Route 9W, Selkirk Reserve will offer workforce housing with units available for households earning 30 to 60 percent AMI. The apartment community will also provide comprehensive case management and wrap-around support services for 12 qualified veterans experiencing homelessness through a holistic partnership with Soldier On and an award granted by The Empire State Supportive Housing Initiative (ESSHI).

“It is particularly gratifying to have reached this moment as so many individuals are facing significant challenges and need help,” said Bruce Buckley, Chief Executive Officer, Soldier On. “We are looking forward to partnering with the NRP Group in Selkirk, New York. This project will give twelve veterans a chance to once again be fully franchised members of the community they so bravely served.”

Selkirk Reserve will comprise 24 one-bedroom units ranging from 702-784 sq. ft, 24 two-bedroom units ranging from 910-1,003 sq. ft, and 24 three-bedroom units ranging from 1,127- 1,207 sq. ft. Each residence will be outfitted with a kitchen pantry, microwave, dishwasher, bulk storage, large closets, and a programmable thermostat. Spacious units will also include universal design features such as switches placed lower on walls, outlets placed higher on walls, non-slip flooring or lower pile carpeting, and lever faucets.

The heart of community living at Selkirk Reserve will be the on-site clubhouse– a vibrant hub designed to bring residents together. The multifaceted space will act as an integral meeting point housing a community room, amenity center, office area, conference room, activity room, and kitchen. Residents, families and their guests will also have access to spacious outdoor amenities including a playground, highlighted with lush greenspace, and raised garden beds.

“The Capital Region's continued economic growth has created an urgent need for more high-quality, affordable housing opportunities to accommodate the expanding workforce,” said New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas. “Selkirk Reserve will boost the region’s housing supply with 72 energy-efficient homes in the town of Bethlehem, including 12 with supportive services for veterans. With access to high-performing schools and excellent amenities, future residents will benefit from the many opportunities that a good quality home can provide. Congratulations to the NRP Group, Soldier On, and all who have contributed to reaching this milestone.”

Adhering to New York State’s All-Electric Buildings Act (AEBA), which bans fossil fuels—including natural gas hookups—in most new buildings, Selkirk Reserve will be an all-electric community with its residents purchasing electricity for heating, cooling, cooking, and domestic water heating. Throughout the development, NRP will fully integrate green design and building practices as well as other notable features including Energy Star products and materials, achieving HCR’s goal of creating energy-efficient housing.

In the project's early stages, NRP received notable community support from local Bethlehem community organizations, including “Housing for All” and “Neighbors for Affordable Housing.” The project’s design vision was brought to life by RDL Architects and Hershberg & Hershberg Consulting Engineers, while Key Bank will act as the construction lender and equity investor.

Selkirk Reserve is expected to be completed in August 2025.

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 50,000 apartment homes and currently manages over 25,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

About HCR

HCR develops, preserves and protects affordable housing and invests in economically vibrant communities. The agency work with many private, public and nonprofit partners to create safe, healthy and affordable housing opportunities for all New Yorkers. HCR is charged with carrying out Governor Hochul’s new $25 billion, five-year, comprehensive housing plan to increase housing supply by creating or preserving 100,000 affordable homes across New York including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.

About Soldier On

Soldier On is a private nonprofit organization committed to ending veteran homelessness. Since 1994, the organization has been providing homeless veterans with transitional housing and supportive services. In 2010, Soldier On opened the first Gordon H. Mansfield Veterans Community, a permanent housing cooperative that provides formerly homeless veterans with safe, sustainable, affordable housing – transitioning them from homelessness to homeownership. This housing model will be replicated nationally as Soldier On continues to change the end of the story for homeless veterans throughout the country.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240212505219/en/