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Albany IDA Project Index

Lofts at Pine Hills

Project Number: 237

Project Address: 237 Western Avenue

Applicant Name: The Lofts at Pine Hills, LLC

Owner(s): Patrick Rafferty and Heather Rafferty

Developer: The Lofts at Pine Hills, LLC

Project Description:

The Project proposes to construct a +/- 124,300 SF, 5-story mixed-use residential commercial retail structure containing approximately 97 residential market rate apartment units and 6,000 SF of commercial retail space on the ground floor intended for two tenants. The 1.62 acre project site, which currently has 11 vacant structures that will be demolished, will also include approx. 99 off-street parking spaces.

Approval Date: 03/18/21

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $2,942,949

Estimated Employment Impact: 150 Construction jobs and 5 full-time equivalent jobs created, 0 full-time retained

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