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Albany IDA Project Index

Parkview Apartments

Project Number: 01011414

Project Address: 400 Hudson Avenue

Applicant Name: TMG-NY Albany I, LLC

Owner(s): TMG-Parkview, LLC, Stratford Capital or a designee will serve as Special Limited Partner. An investment partnership will serve as Limited Partner.

Developer: The Mulholland Group

Project Description:

The building currently offers 179 units of affordable housing for seniors and special needs persons. The property was constructed in 1972 and has been operated by Gideon Lodge #140 B’Nai B’Rith Housing Development Fund (B’Nai B’Rith) since its completion. The project will consist of acquiring the property from B’Nai B’Rith with the intent of continuing current operations. In doing so, the Applicant will add an additional three units and renovate the property in order to bring the structure in line with today’s codes and standards. Renovations will include new kitchens and bathrooms, upgrading the buildings systems and updating the lobby.

Approval Date: 08/15/2013

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $2,562,254

Estimated Employment Impact: 60 construction jobs and 0 full-time equivalent jobs created, 5 full-time equivalent retained

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