RICHFIELD SPRINGS, NY (WUTR/WFXV/WPNY) – A Richfield Springs building project is receiving some funding from the State of New York for their work on providing energy-efficient homes for families.

The Bank Lofts project, a project that is looking to repurpose the First National Bank building, will receive $110,000 from the Buildings of Excellence Competition. The complex received Early-Stage Design Support from Governor Kathy Hochul’s $1.1 million plan to help ensure cost-effective, low carbon solutions are put into projects from the start of their design.

The project, estimated to cost about $2.5 million by its end, is reported to house nine families in total, as well as ground-level commercial space.

The announcement also comes in support of Governor Hochul’s goal to develop two million environmentally friendly homes by 2030.  In all, over half of the projects in the Buildings of Excellence competition will start construction in what the state calls “disadvantaged communities,” and over 1,300 housing units will serve low to moderate income households. Every project that received funding from the competition is all-electric and carbon neutral, meaning no fossil fuels will be used in daily operations on-site.

The project in Richfield Springs is scheduled for completion in the spring of 2024.