Government > Departments > Development and Planning > Neighborhood Revitalization > Midtown

Midtown Colleges and University District

$5,000 Homeownership Grant Program

Within the City of Albany’s “Midtown” area, there are several different educational institutions. The colleges and university located in this area are centers of activity and stability. These institutions are essential in the growth and development of Albany. In order to enhance the areas surrounding these colleges and university, the Midtown Homeownership Program was developed to assist new homeowners. The Program is focused on strengthening Albany neighborhoods by increasing the rate of homeownership in the City. The Midtown Homeownership Program is available to individuals or families purchasing a home within the Midtown Homeownership Zone and offers a $5,000 forgivable loan to be used toward down payment and closing costs. The eligible Phase I and II boundaries of the Program are outlined on the map.

There are two different components of the Midtown Homeownership Program. First, there is the Employer Assisted Housing (EAH) program, which is available to faculty and staff of Albany College of Pharmacy, Albany Law School, Albany Medical Center, College of St. Rose, Sage Colleges, or the University of Albany. Second, the Citizens Bank Grant Program is available to any individual or family that is not employed by any of the colleges listed within the EAH program, but must obtain the mortgage through Citizens Bank. Citizens also offers discoun