Foss & Company Closed Four Historic Housing Projects

The firm utilized state and federal tax credits to create 156 affordable housing units across New York.

Updated on Sept. 29, 2026 in Commercial

Screen-print poster illustration of a historic brick apartment building facade, evoking the theme of affordable housing restoration. — Foss & Company has completed the rehabilitation of four historic properties in New York, adding 156 affordable housing units to the state's inventory. AI Illustration. Upload story photo >

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Foss & Company has finalized investments for four historic rehabilitation projects throughout New York state. These developments successfully created or preserved 156 affordable housing units in Buffalo, Albany, Fredonia, and Kingston.

Why it matters

Small-scale rehabilitation efforts often struggle with financing gaps that tax credit equity cannot cover alone. By pairing tax credits with the Small Building Participation Loan Program, these projects secure necessary capital for assets that larger structures typically overlook.

The completed portfolio includes 28 units at the Eckhardt Building in Buffalo, 49 at the Selfridge & Langford Building in Albany, 40 at 343 Central in Fredonia, and 39 at 80 Washington St. in Kingston. The Eckhardt Building also features 22,000 square feet of commercial space.

The players

Foss & Company

Foss & Company is an investment firm that specializes in tax credit and historic rehabilitation financing.

The details

The projects utilize the Small Building Participation Loan Program, which offers low-interest financing designed for the adaptive reuse of existing structures. Construction is currently complete on the Eckhardt Building, while the overall initiative relies on a combination of state and federal Historic Tax Credits.

September 29, 2026: Date of article publication.

Roadmap

The strategy of pairing tax credit equity with specialized state loan programs represents a critical shift toward revitalizing smaller historic assets. This approach allows developers to bridge funding gaps that historically prevented the adaptive reuse of mid-sized urban buildings.

Residents in the designated project cities will gain access to 156 newly rehabilitated, rent-restricted housing units. These projects also modernize long-vacant or aging historic buildings, potentially increasing local commercial activity through added retail and office space.

The takeaway

The success of these developments highlights the effectiveness of layering multiple government incentives to rehabilitate smaller historic properties. Future projects in the state may increasingly rely on similar combinations of tax credits and low-interest loan programs to ensure financial viability.