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Albany IDA Project Index

New Scotland Village

Project Number: 1

Project Address: 563 New Scotland Avenue

Applicant Name: 563 New Scotland Ave, LLC

Owner(s): Ryan Jankow (100%)

Developer: Jankow Companies

Project Description:

The project consists of the construction of 188 residential market-rate apartment units in four (4) buildings on 3.31 acres of land totaling +/- 300,000 SF. Seven (7) existing underutilized structures will be demolished. There will be a clubhouse/office portion of one building, common areas, parking for +/- 255 cars and approx. 15,000 SF of ground floor retail/commercial space available.

Approval Date: 01/16/20

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): 8,464,701

Estimated Employment Impact: 85 Construction jobs and 13 full-time jobs created, 2 full-time retained

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