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Albany IDA Project Index

Morris Place

Project Number: 01012006

Project Address: 105 Morris Street

Applicant Name: Morris Place LLC

Owner(s): Sameh Asaad, Gihan Asaad

Developer: Sameh Asaad

Project Description:

This project consists of the demolition of an existing apartment building and the construction of a five story apartment building. Indoor parking will be built for 16 cars at grade, and four floors of apartments will be constructed above. The project will contain a total of 28 residential dwelling units. It is anticipated that the community of tenants will include young professionals, graduate/medical students and staff of Albany Medical Center, which is a short walking distance away.

Approval Date: 10/18/2018

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $752,578

Estimated Employment Impact: 40 construction jobs and 2 full-time equivalent jobs created, 0 full-time equivalent retained

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