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Albany IDA Project Index

Livingston School Apartments

Project Number: 01011411

Project Address: 315 Northern Boulevard

Applicant Name: LV Apartments LP

Owner(s): LV Apartment GP, LLC, LV Apartments GP, LLP, LV Apartments GP, SLP

Developer: Winn Development

Project Description:

After more than three years of vacancy, the project includes the re-use of the former Philip Livingston Magnet Academy, which served as a junior high and middle school from 1932 to 2009. The project consists of converting the structure into 103 affordable senior (55+) residential rental units with associated common area amenities and parking. Once complete, the project will provide quality affordable senior housing to residents earning 50%, 60% and 90% of AMI. The Applicant currently has a $2.5 million option in place with the school district to purchase the building and approximately 12 acres, of the approximately 16 acres, of land it currently sits on. The school district will retain approximately 4 acres in front of the building along Northern Boulevard.

Approval Date: 09/19/2013

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT):

Estimated Employment Impact: 100 construction jobs and 3.5 full-time equivalent jobs created, 0 full-time equivalent retained

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