ALBANY, N.Y. (NEWS10) – New, affordable housing has opened in the Capital Region.

The new housing is part of an ongoing development at the Sheridan Hollow community in Albany. On Wednesday, apartments for 57 families and individuals opened.

The apartments join 20 Habitat for Humanity houses and are part of a five-year strategy to redevelop the neighborhood. The Sheridan Hollow Village was completed with $1.5 million in housing tax credits, plus financing through Governor Andrew Cuomo’s Regional Economic Development Council initiative.

“We really think it’s a catalyst that will help revitalize and sustain the neighborhood, and continue to enhance the positive things that are going on in the neighborhood,” Housing Visions Vice President of Business Development Ben Lockwood said. “And the positive aspects, such as location, major job centers, downtown cultural activities, so we’re excited about that.”

Partners for the revitalization project include Habitat for Humanity, Housing Visions, and Homes and Community Renewal.