When completed, Hale Creek Preserve will offer 64 one- and two-bedroom apartments for income-eligible seniors earning between 30–60% of the area median income. Units will range from 627 to 816 square feet and include amenities such as:

• Elevator access
  
• Laundry on each floor
  
• A community room
  
• Fitness center
  
• Free Wi-Fi throughout the building

Fourteen of the units will include onsite support services funded through the NYS Empire State Supportive Housing Initiative, ensuring that residents who need additional resources can remain independent and connected.

The site will also feature new walking trail connections along Hale Creek, offering direct access to nearby community resources such as the Johnstown Area Community Center and Senior Citizens Center. These improvements will be donated back to the city for public use.

This project was born out of a clear and urgent reality: many seniors in Fulton County are living in homes they no longer wish to—or are able to—maintain. Mayor Amy Praught recently underscored this point:

“We have a lot of seniors that live in properties they no longer can care for, or no longer want to care for. This gives them a beautiful apartment in central downtown Johnstown, close to everything they need. It makes the market more available for others and gives our seniors a place to go that feels like home.”

By helping seniors move into well-designed, right-sized housing, the community also frees up larger homes for working families—alleviating housing pressure across income levels. This kind of “housing chain reaction” is exactly the kind of inclusive growth FCIDA is proud to support.

Hale Creek Preserve reflects the FCIDA’s mission in action: transforming underused land into a community asset, leveraging public-private partnerships to serve local needs, and creating economic opportunity for the long term.

It also reinforces our region’s reputation as a place where high-impact projects get done. With a streamlined local process, a cooperative city administration, and a pro-housing designation from New York State, Johnstown is demonstrating that small cities can take bold steps toward housing security and inclusive growth.

To ensure the project remains financially viable over the long term, FCIDA is partnering with the developer to structure a Payment in Lieu of Taxes (PILOT) agreement. This alternative to traditional property tax assessment helps create predictability and stability for affordable housing projects, which operate with less margin for unexpected costs.

Rather than relying on annual assessments tied to net operating income, the proposed PILOT sets payments based on a fixed formula: $250 per unit annually, with a 2% annual escalation. Over 30 years, this structure will enable the project to meet its financial obligations while ensuring stable, forecastable revenues for the city and county.

This kind of structure also helps the project qualify for critical funding, including the developer’s application to the New York State Homes and Community Renewal (HCR) for 9% Low Income Housing Tax Credits and other equity sources.

Hale Creek Preserve is expected to generate significant local economic activity. The project will:

• Create more than 200 construction jobs during buildout
  
• Employ five full-time and up to 15 part-time staff once operational
  
• Contribute over $1.1 million in new wages annually to the regional economy

Additionally, the project team has committed to sourcing labor and materials locally whenever possible, creating immediate and long-term benefits for the community.

As development continues, FCIDA will remain closely involved—providing support, coordination, and oversight to ensure that Hale Creek Preserve delivers on its promise to the community. From financing assistance to infrastructure guidance, our role is to reduce risk and keep momentum moving.

But the credit belongs to more than one agency. This is a testament to what happens when a city, a county, and a team of experienced developers come together around a shared purpose.

In a time when affordable, age-friendly housing is more important than ever, Hale Creek Preserve offers a model for how to meet that need—not someday, but now.

If you’re interested in learning more about how FCIDA supports projects like this, or if you’re considering development in Fulton County, we invite you to connect with us directly. Our door is open, and we’re ready to help.