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Albany IDA Project Index

1475 Washington Avenue Associates

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 rooms will be configured between 1 and 4 BDRM/BA combinations and will share common room space and a kitchen area. The units will be fully furnished and marketed to students attending local universities. 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. The property will be owned and operated by the Applicant.

Approval Date: 03/19/2015

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $1,483,724

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

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