Albany IDA Project Index

Colvin Avenue Commons, LLC

Project Number: TBD

Project Address: 60 Colvin Avenue, Albany NY

Applicant Name: Colvin Avenue Common, LLC

Owner(s): Regan Development Corp.

Developer: Regan Development Corp.

Project Description:

The project involves the construction of two buildings totaling +/- 71,870 SF. The mixed-use development will include 63 units of affordable housing and +/- 4,800 SF of commercial space intended to house a daycare facility. The project will be funded in part through 9% low-income housing tax credits. The residential units will serve income qualifying residents that fall between 40% and 80% of the area median income. Support services on site will be provided by Rehabilitation Support Services, Inc.

Approval Date: August 22, 2024

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $2,836,889

Estimated Employment Impact: Twelve full-time equivalent and sixty construction jobs.

Albany IDA Project Index

Colvin Avenue Commons, LLC

Project Number: TBD

Project Description:

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