.🏦 Grant Opportunities and IncentivesSeveral state and local incentive programs may reduce project costs and support adaptive reuse:Restore NY Grant ProgramProvides funding for redevelopment of underutilized or blighted propertiesEligible for up to $2 million per project, depending on municipality sizePrioritizes reuse over new constructionNY Empire State Development (ESD) GrantsOffers capital support for projects that create jobs or enhance infrastructureMay apply if the self-storage facility includes mixed-use or light commercial componentsBrownfield Cleanup Program (BCP)If the industrial site is eligible, investors can receive tax credits for cleanup and redevelopmentLocal Industrial Development Agencies (IDAs)May provide property tax abatements (PILOT agreements), sales tax exemptions, and low-interest financingEngaging with local planning departments and economic development councils early in the process can help identify available resources.🧮 Key Metrics to ConsiderMetricTypical Range (Upstate NY)Conversion Cost (PSF)$40–$70Monthly Rent (PSF)$1.00–$1.50Cap Rate6.5%–8.5%Vacancy Rate8%–15%Typical ROI8%–12%Stabilization Timeline12–24 months🔍 Final ConsiderationsBefore moving forward with a conversion project, investors should conduct a thorough feasibility study including:Local self-storage supply and demandTraffic counts and visibilityZoning and permitting analysisBuilding condition and environmental risksExit strategies and management optionsSelf-storage remains one of the most stable sectors in CRE, especially when combined with the cost efficiency of industrial reuse.

Every NY tenant, especially downstate has been completely educated via advocacy groups and TV/web ad campaigns on the ins/outs of wielding the legislative controls to take advantage of the uninformed landlord.  

Some of the major changes include extended tax cuts, cuts to social programs, more funding for the border and deportations, and a prediction of over 3 trillion to the national debt in the next 10 years. 

They have a program their allowing you to purchase very similarly to the VA program ($0 down) but the catch is the interest rate and a flat fee.

have any updates on the program?

@Shara Lear doesn't matter what platform or program it is, biggest challenge is consistently wearing it and actually doing what it tells you to do. 

. - I personally haven't taken advantage of any sustainability credits, but we do have a Chicago Suburb project that is utilizing historic tax credits.I did find some opportunities on the web for making multifamily properties more energy efficient.  

I joined the program to build something together.

Many lenders offer physician-specific programs with low down payments and more flexible DTI requirements.In a competitive market, networking is key.

This strategy can provide reliable, government-backed rental income while also helping meet affordable housing needs in your community.I have over 18 years of hands-on experience in real estate investment, property management, and leasing including expertise in the Housing Choice Voucher Program (Section 8) across Cleveland and surrounding suburbs.