Crannell Square in Poughkeepsie, New York

Wespath’s Positive Social Purpose (PSP) Lending Program contributed funding to the construction of a Poughkeepsie, New York, housing development with five apartments reserved for individuals with mental health conditions, and seven apartments designated for people with physical disabilities. Residents in these units can access on-site support services from a local not-for-profit organization.

The 75-unit apartment building, Crannell Square, is an affordable housing development that also has 26 apartments earmarked for artists. The Crannell Square lobby doubles as a gallery space for a resident artist to display work for free.

Crannell Square is an energy-efficient building, achieving a LEED Gold certification. The building opened in June 2022 and includes a laundry room, community room, performance practice room and 30 parking spaces.

Wespath invested $5,550,000 in the project and worked with intermediary Community Preservation Corporation. Wespath’s funding for Crannell Square was completed in December 2022.