Reed Street

Reed Street, Little Falls, NY, 13365

Project Overview

New construction, family-oriented community with on-site childcare services

The Reed Street mixed-use project envisions the development of an approximately 17-acre situated within a residential neighborhood in Little Falls, NY near local schools and parks. Reed Street represents the culmination of a multi-decade dream to bridge the gap between the top and bottom end of the housing market in Little Falls, and bring within reach a stable, quality environment for individuals and families to grow and prosper. Reed Street delivers on this dream by providing safe, high-quality affordable housing for individuals and families in a bucolic, wooded setting.

Pennrose is actively working with Rock City Development, ICAN, and stakeholders to create a unified vision in support of the City of Little Fall’s 2018 Comprehensive Plan (the “Little Falls Plan”) and the 2022 Herkimer County Community Development Strategic Plan (the “Herkimer Plan”).

Reed Street will offer approximately 130,000 square feet of new housing and indoor community amenities, containing 138 units of affordable housing. The development will be configured in nine stacked flat style buildings, and one centrally located community facility with daycare that will serve Reed Street residents and the public, a management suite, fitness center, and residential amenity space. The program identified the need for affordable family-oriented rental housing and envisions:

41 one-bedroom units
86 two-bedroom units
11 three-bedroom unit

The project includes a diverse mix of housing with rents that will be affordable to individuals and households with incomes up to 60% of the Area Median Income (AMI) for the Utica-Rome, NY MSA.

The site plan embraces the beautiful scenery and topography of the site to create a multi-level community, with buildings gently stepping down the grades in a series of building rows around two main concentrations to northern and southern ends of the site. The site maximizes greenspace. The development will incorporate sustainable designs and be 100% electric.