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Albany IDA Project Index

One Columbia Place Realty LLC

Project Number: 01011505

Project Address: 1 Columbia Place and 48 Sheridan Avenue

Applicant Name: One Columbia Place Realty, LLC

Owner(s): Marc Paquin

Developer: Cass Hill Development Co.

Project Description:

The project consists of the revitalization of a 25,368 SF historic structure built in 1840. The project includes the conversion of a vacant commercial office building into 21 one and two bedroom market-rate residential units. A portion of the property (nearly 25%) collapsed in August 2014. Consequently, the Applicant invested $170,000 in shoring and stabilizing the structure in addition to $25,000 in architectural and engineering fees.

Approval Date: 06/18/2015

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $397,429

Estimated Employment Impact: 25 construction jobs and 1 full-time equivalent job created, 0 full-time retained

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