Governor Hochul Announces Start of Construction on 101-Unit Affordable Housing Development in Wayne County

Governor Kathy Hochul today announced the start of construction on Coventry Commons, a $59 million project creating 101 affordable apartments in the historic former Reed Manufacturing Company’s factory and office space in Wayne County’s village of Newark. In the past five years, New York State Homes and Community Renewal has created or preserved nearly 400 affordable homes in Wayne County. Coventry Commons continues this effort and is included in Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide. Nearly 60,000 homes have been created or preserved to date.

“The solution to the housing crisis confronting our communities is to create more housing,” Governor Hochul said. “Coventry Commons will do that and more for the village of Newark. This development will transform a vacant historic site into 101 affordable apartments, and is an important component in the ongoing revitalization of the village’s downtown corridor. As we strive to develop more affordable housing opportunities across the state, we are grateful for our partnerships with certified Pro-Housing Communities like Newark who understand the value of investing in the future of New York.

The historic complex, which is listed in the State and National Registers of Historic Places, has been vacant since 2005 and developed through a joint venture with Housing Visions and New CDM, LLC. Reed Manufacturing was nationally known for producing large-scale enamelware that was popular in both households and hospitals. The site consists of a three-story 1903 brick factory building that will contain 96 apartments and a two-story brick office building that will contain five apartments. All apartments at Coventry Commons will be set aside for households earning up to 80 percent of the Area Median Income.

The development of Coventry Commons is supported by Newark’s Downtown Revitalization Initiative Strategic Investment Plan, which aims to transform downtown neighborhoods into vibrant centers that offer a high quality of life and are magnets for redevelopment, business, job creation, and economic and housing diversity.

Construction of Coventry Commons will also include upgrades to an existing on-site playground. Residents will have access to a fitness room, bulk storage space, co-work rooms and free Wi-Fi throughout the complex.

The highly-energy efficient, all-electric development is designed to meet Clean Energy Initiative Existing Buildings and Enterprise Green Communities standards, with efficiency measures including air-tight construction, native drought tolerant plantings, and heat pump technology for both space conditioning and domestic hot water heating.

State financing for Coventry Commons includes State and Federal Low Income Housing Tax Credits that will generate $27.9 million in equity and $10.7 million in subsidy from New York State Homes and Community Renewal. The New York State Office of Parks, Recreation and Historic Preservation has facilitated the use of Federal and State Historic Rehabilitation Tax Credits, providing nearly $11.5 million in equity for the project. Empire State Development provided $2 million in Downtown Revitalization Initiative funding. The development also benefits from over $1.2 million in Clean Energy Initiative, a partnership between HCR and NYSERDA that aligns the development and preservation of affordable housing with New York’s affordable and just transition to a clean energy economy.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Coventry Commons is a shining example of how we can address New York’s housing crisis by transforming vacant, historic properties into vibrant, affordable homes. This $59 million project not only preserves a piece of Newark’s rich history but also creates 101 energy-efficient apartments for working families in a revitalized downtown, strengthening the community for years to come. Thank you to Governor Hochul for her continued support of development that improves affordability, transforms neighborhoods and preserves pieces of our State’s history.”

New York Secretary of State Walter T. Mosley said, “The Downtown Revitalization Initiative is breathing new life into communities and helping to address the state’s housing crisis through creative projects like Coventry Commons. Once complete, this affordable housing development will bring the village of Newark one step closer to achieving its vision of becoming a more vibrant and livable community.”

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Throughout New York State, centuries-old buildings are waiting to be restored to serve their communities in a new way, like we see here in the village of Newark with the transformation of the former Reed Manufacturing Company’s factory. This landmark building will be retrofitted with sustainable construction standards and modern efficiency technology, bringing new life to this vacant site and creating a clean and affordable housing option for the residents of Wayne County.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Governor Hochul’s continued Downtown Revitalization Initiative investments are bringing new life to communities statewide. The transformation of this former manufacturing site reflects the administration’s commitment to preserving New York history while building its future, through creating affordable housing, economic growth and new opportunities for generations to come.”

New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simon said, “By utilizing incentives like the state and federal historic rehabilitation tax credit programs, communities throughout the state are leveraging their development projects to generate higher impact while creating vibrant, reclaimed spaces. Finding partners to collaborate on initiatives that help address needs like affordable housing helps make these plans a reality and has an immediate impact on the lives of New Yorkers. We are honored to be part of these efforts.”

Housing Visions President and CEO Ben Lockwood said, “Housing Visions & NEW CDM are pleased to partner to provide the village of Newark with a highly impactful development that renews a once great asset into 101 apartments within a 3-minute walk of Main Street.”

NEW CDM, LLC President and Director of Business Development Christopher Pisanti and Cory Bendekovic said, “Saving this historic building and repurposing it to meet a real need in the community has been at the heart of Coventry Commons from day one. This project preserves an important piece of Newark’s past while creating new opportunities for its future. We’re incredibly grateful for the overwhelming support we’ve received—not just from our state and local partners, who share in the vision of what this site can once again become, but from the residents of Newark, whose excitement and encouragement have fueled this effort every step of the way.”

Village of Newark Mayor Jonathan Taylor said, “We are thrilled to have the Coventry Commons Project breaking ground. Newark has a need for housing for young professionals and those who would like to age in place. Coventry Commons will be a big step towards filling the housing needs in our community. The Reed Manufacturing facility once was a bustling hub of commerce, and we are excited to see its revitalization and return to prominence in our village. We would like to thank the Governor and all the partners who are making Coventry Commons a reality.”

Governor Hochul’s Housing Agenda

Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners.

The FY25 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro-Housing Communities certification is now a requirement for localities to access up to $650 million in discretionary funding. To date, nearly 300 communities have been certified, including the village of Newark.