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Albany IDA Project Index

The Gateway Apartments

Project Number: 01011202A

Project Address: 4-6 Sheridan Avenue

Applicant Name: 4 - 6 Sheridan, LLC

Owner(s): Guy Alonge III, Clemente Parente, Daniel Sanders

Developer: Gary Brown

Project Description:

This building, a former restaurant and brewery, was vacant for two years due to bank foreclosure under the previous owner. The applicant is currently in the midst of rehabilitating the five story, 21,000 sq.ft. commercial building into a mixed-use structure. The building will house 13 market rate apartments (studio, one bedroom and two bedroom) on floors 2-5 and 3,000 sq.ft. of retail/ restaurant space on the first floor. The project requires the removal and replacement of many of the existing partition walls, plumbing, electrical wiring, HVAC, windows, etc.

Approval Date: 10/20/2011

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $142,706

Estimated Employment Impact: 24-40 Construction jobs and 40 full-time jobs created, 0 full-time retained

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