NCPR: What does it take to build affordable housing for local residents and workers in Lake Placid?

Story by Amy Feiereisel, North Country Public Radio

On May 10, sixteen townhomes went up for sale at the Fawn Valley Development in Lake Placid. Over half are currently under contract. 

To buy one, you have to be a full time resident, work in Lake Placid, and make less than 200% of the area median income (or AMI). The homes cannot be used as short term rentals, there's a cap on how much they can be sold for.

But Fawn Valley is not Section 8 housing, and doesn't qualify as 'affordable housing' under the state definition, which is designated for people who make less than 80% of AMI. The housing wasn’t paid for through any state or federal program.

It was privately developed and represents a unique model in the North Country.

Read or listen to the full story at NCPR: https://www.northcountrypublicradio.org/news/story/49895/20240606/what-does-it-take-to-build-affordable-housing-for-local-residents-and-workers-in-lake-placid