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Albany IDA Project Index

Park South Partners LLC

Project Number: 01011501

Project Address: New Scotland, Dana Ave, Robin Street & Morris Street

Applicant Name: Park South Partners LLC

Owner(s): Norman Massry, Mark Rosen, MRP Associates LLC

Developer: TriCity Rentals

Project Description:

The project consists of the acquisition of leasehold interest in land encompassed by New Scotland Avenue, Dana Avenue, Robin Street, and Morris Street as well as a portion of land encompassed by New Scotland Avenue, Morris Street, Robin Street, and Myrtle Avenue. The existing buildings will be demolished and six new buildings will be constructed. The project will include approximately 268 market-rate apartments, 21,000 SF of retail space, 103 surface parking spaces, tenant amenities, as well as appropriate public infrastructure and site improvements.

Approval Date: 09/18/2014

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $6,755,747

Estimated Employment Impact: 200 construction jobs and 11 full-time equivalent jobs created, 0 full-time equivalent jobs retained

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