Fawn Valley Homestead Development boosts local economy

LAKE PLACID | "Last year was great for Homestead Development Corporation," said Steve Sama, President of Homestead Development Corporation. "Along with modular components purchased from Simplex Homes, we built 16 two-bedroom townhomes and a brand new 3,000-square-foot food pantry and thrift shop – all in Lake Placid." The Fawn Valley housing development has allowed local essential workers and those who have served the community to become first-time homeowners and remain in the community. In the process, the project has also spurred economic growth. "Home ownership has been a dream of mine since I was an undergrad, but as prices continued to increase, that dream seemed less and less possible," commented a new resident of Fawn Valley. "Closing on my first home feels like an accomplishment that couldn't be possible here in Lake Placid without this initiative and group coming together to make it happen." Additionally, residents of Lake Placid have benefitted from the shared community vision of Homestead Development Corporation, the Lake Placid Central School District, Village of Lake Placid, Town of North Elba, local philanthropic organizations and individual donors in 2024. The groups' cooperation resulted in the completion of the new Fawn Valley housing development, a project that includes six single-family homes and sixteen two-bedroom townhomes, and Thrive and Thrift, a newly constructed community food pantry and thrift shop located next to the Shipman Youth Center. Thrive and Thrift, which opened last November, is an enhanced food pantry and thrift shop offering affordable clothing and household goods. The new 3,000-square-foot building serves as a transition from a food pantry that had been run by the Ecumenical Charity Program in the basement of St. Agnes Church for over 30 years and Lake Placid's previous thrift shop which had recently been displaced from its former location on Mirror Lake Drive. Thrive and Thrift also serves as a vital resource for community care and connection. "I believe in what Homestead is doing for our community and am so thankful that so many people have supported its efforts to provide affordable housing, accessible food and basic household necessities to year-round residents who care deeply for each other," added a patron of Thrive and Thrift. The food pantry is now open every Friday from 9 a.m. – noon and the thrift shop is open Wednesdays, Thursdays and Saturdays from 10 a.m. – 2 p.m. and on Fridays from 1 – 5 p.m. 2024 Notable Statistics Of the new Fawn Valley townhouse residents, five are in the healthcare field, three work for the Olympic Regional Development Authority or U.S. Olympic and Paralympic Committee, two are educators, two work for municipal government and one in the hospitality industry. The Fawn Valley and Thrive and Thrift projects generated $3,000,000 into the local trades' economy through the hiring of carpenters, plumbers, excavators, electricians, and painters. The combined projects also utilized local professional services by employing attorneys, engineers, surveyors, appraisers and mortgage lenders. The 16 townhouses have added $3,120,000 of valuation to the North Elba, Essex County and Lake Placid Central School District tax base. Fawn Valley's single-family homes and fourteen of the sixteen townhomes have been sold – only two of the townhouses are still available. More information about Housing Development Corporation can be found at www.homesteadadk.org.

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Fawn Valley Homestead Development boosts local economy

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