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Albany IDA Project Index

Home Leasing

Project Number: 01011805

Project Address: Clinton Avenue & Ten Broeck Street

Applicant Name: Home Leasing, LLC (Clinton Avenue Apartments Housing Development Fund Corporation)

Owner(s): Deborah Leenhouts, Jeffrey Leenhouts, Catherine Sperrick, Megan Houppert, Sarah Hunt

Developer: Home Leasing

Project Description:

The project consists of the revitalization of approximately 210 units in approximately 70 existing row houses and 2 vacant parcels. Approximately half of the units are currently vacant, and eight buildings are condemned. The project will be Mixed Income and Affordable Housing: approximately 10-15% of units will be middle income at 60 to 90% of the Capital Region Area Median Income (AMI) and 85-90% of units will be affordable at 50 or 60% AMI. The rehabilitation of the properties will be comprehensive and will be guided by the State Historic Preservation Office as the developers will utilize historic tax credits.

Approval Date: 12/21/2017

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $2,562,320

Estimated Employment Impact: 65 Construction jobs and 5 full-time jobs created, 2 full-time retained

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