Albany IDA Project Index

45 Columbia Street Assoc. LLC (2026 Project)

Project Number: TBD

Project Address: 43 Columbia Street, Albany, NY

Applicant Name: 45 Columbia Street Assoc. LLC

Owner(s): Redburn Real Estate Partners, LP

Developer: Redburn Development Partners

Project Description:

The project involves the conversion of underutilized parking areas in an existing mixed-use apartment building. The project will add 37 units of workforce housing, resulting in a total of 59 residential units and 40 onsite parking spaces.

Approval Date: 5/20/2026

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): The decrease in revenue to the taxing jurisdictions is offset by the following benefits: the addition of over 35+ residents to the CBD, and the reuse of an existing commercial structure.

Estimated Employment Impact: The project is anticipated to create 50 construction jobs and retain 0.5 existing jobs.

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