The project is due to bring 60 new apartments to the New York village alongside other developments in progress in the area – Fawn Valley and the Peaks at Lake Placid.

MacKenzie Outlook is the only development that will have units for rent at an "affordable" price, between $528 (£388/€464) to $1,045 (£769/€919) per month.

It was originally expected to house athletes during the Games before being turned over to long-term renters.

However, Adirondack North Country Sports Council executive director Ashley Walden said it will now be taking in workers instead.

A housing-needs assessment study released in 2020 showed around 1,500 "workforce and affordable level" housing units in North Elba and Lake Placid are required to reach a target of half the local workforce living within the community.

MacKenzie Outlook developer Larry Regan said creating affordable housing to boost the local economies is his company’s vision.

Regan said he hopes to pre-lease the apartments to long-term tenants before the Games so the units will be ready for move-in at the beginning of February 2023, just over a week after the Games end.

Lake Placid 2023 is set to run from January 12 to 22 next year in what is the 31^st edition of the event.

Provided it goes ahead, it will be the second time that the United States has staged it after the 1972 Games, which were also in Lake Placid.