Schenectady, N.Y., December 16, 2025 — The Board of Directors of the Capital Region Land Bank met this evening and approved a $400,000 grant in support of a $1.8 million project that will boost home ownership in Schenectady’s Mont Pleasant neighborhood.
Richard Ruzzo, Chair of the Capital Region Land Bank and Deputy Chair of the Schenectady County Legislature said, “The Land Bank is proud to help fund this program that is making home ownership a reality for more Schenectady families. We are replacing blighted structures with attractive new homes, and we are selling the new homes allowing us to reinvest that funding right back into more new housing.”
Mayor Gary McCarthy said, “We continue to work with key partners like the Land Bank and BCNI to create new housing in our neighborhoods. We also thank Congressman Paul Tonko for his support of this effort to help families buy their first home right here in Schenectady.”
The grant will be used by Better Community Neighborhoods Inc. (BCNI) to renovate two vacant, two-family homes on Pleasant Street. One home will be converted to a single-family home while the other will remain a two-family. A blighted, vacant building on Pleasant Street will be demolished and be replaced by a new home. Another new home will be built on Congress Street where a condemned property once stood before it was demolished by the Land Bank. A new home built by the Land Bank on Congress Street recently sold quickly, reflecting the growth in Schenectady’s housing market. All the new homes will be energy efficient and will serve homebuyers earning at or below 80% of Area Median Income (AMI),
Kristen Pirro Evans, Executive Director of the Capital Region Land Bank said, “The Land Bank is pleased to partner with BCNI to improve access to quality housing in our community. This project will make homeownership attainable for four more Schenectady families while addressing seriously blighted properties and boosting momentum that is building in the Mont Pleasant neighborhood.”
The Land Bank, BCNI, Schenectady County and the City of Schenectady have partnered on multiple development projects in Mont Pleasant including the construction of a new branch library, a new Boys and Girls Club, the new 60-unit Mosaic Apartments on Crane Street, demolition of more than 50 derelict properties, improvements to Orchard Park and a new splash pad at Wallingford Park.
Additional funding for the home ownership program in Mont Pleasant comes from a $750,000 2024 Community Project Fund award provided by Congressman Paul D. Tonko, a $240,000 award from the Federal Home Loan Bank of NY, a $200,000 HUD HOME Program award from the City of Schenectady, and $10,000 from Broadview Federal Credit Union.
“This project is central to our ongoing efforts to revitalize Schenectady neighborhoods, expand access to homeownership, and help families build long-term, generational wealth,” said Matthew Nelson, CEO of BCNI.
In addition to the rehabilitation and construction activities, BCNI offers a range of support services to potential new homeowners, including first-time homebuyer counseling, financial literacy, budgeting, down payment assistance grants (if available), and post-purchase counseling all designed to help families build generational wealth.
The Capital Region Land Bank is administered by the Schenectady County Metroplex Development Authority as part of the County’s unified economic development team.
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