Albany IDA Project Index

Broadway Albany Realty LLC

Project Number: 01011507

Project Address: 833 Broadway

Applicant Name: Broadway Albany Realty, LLC

Owner(s): Lewis Norry

Developer: Norry Management Corp.

Project Description:

The project consists of the rehabilitation of existing commercial office space at 833 Broadway for a new call center for Maximus, Inc. (tenant). 112,000 SF of the 140,000 SF building is vacant commercial office with one existing tenant (Citizens Bank) occupying the remaining 28,000 SF. Maximus is a NYSE listed company in the health insurance services industry, an approved contractor with NYS for its Health Care Exchange and has signed a five year lease for occupancy of 92,000 SF of the building. The project is an expansion of an existing facility at Corporative Woods in Albany and will not have a negative impact on employment at the existing facility. The property will be redeveloped for multi-tenant occupancy, including renovation of the existing structure, HVAC and mechanical equipment replacements and associated surface parking. The application does not cover any items that may be purchased by the tenant. The Applicant purchased the property in December of 2014 for $2.76 million.

Approval Date: 06/03/2015

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): No PILOT.

Estimated Employment Impact: 40 construction jobs and 400 full-time jobs created, 0 full-time retained

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