New York Launches $150 Million Housing Central New York Fund Amid Micron Technology Expansion
New York State has introduced the Housing Central New York (HCNY) Fund, a $150 million public-private loan fund to accelerate mixed-income housing development, spurred by Micron Technology's $100 billion semiconductor plant in Onondaga County. The fund, announced on February 19, 2026, is backed by $30 million from Empire State Development and $120 million from private partners, including Micron. HCNY aims to support at least 2,500 new homes over seven years, addressing a projected need for 30,000 additional units in the Syracuse region by 2038.
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The Housing Central New York (HCNY) Fund has been launched with $150 million aimed at developing mixed-income housing across Central New York due to anticipated growth from Micron Technology's semiconductor plant in Onondaga County. Announced on February 19, 2026, the fund comprises $30 million from Empire State Development and $120 million from private partners, including Micron and regional banks.
Administered by the Community Preservation Corporation, HCNY will provide low-cost financing for housing projects facing financial challenges. It targets six counties and aims to support 2,500 new homes over seven years, addressing a broader regional need for approximately 30,000 units by 2038.
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