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Albany IDA Project Index

Block75 Apartments

Project Number: 01011506

Project Address: 1475 Washington Avenue

Applicant Name: 1475 Washington Avenue Associates LLC

Owner(s): Jon grant, Frank Seidman and Frank Seidman Irr. Family trust, Nimish Sangrajkah ATBE, Jared Zeisler, Fran & Kristina Donato ATBE, Jessica Starkey

Developer: Capital Solutions

Project Description:

The project consists of the construction of a +/- 183,750 SF, four-story, private student housing complex. The structure will consist of approximately 271 student beds (118 units) that will sit over a 145 space parking podium. The fully furnished units will be configured between 1 and 4 BR/BA combinations and will share common room space and a kitchen area. Further amenities include an office area, fitness center, clubhouse, and courtyard area. The Applicant currently has a $1.3 M option in place to purchase the land at 1475 Washington Avenue.

Approval Date: 03/19/2015

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $1,523,280

Estimated Employment Impact: 90 construction jobs and 7 full-time equivalent jobs created, 0 full-time retained

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