We've been watching the activity at 27 Western Ave in Albany recently. The property -- which is across from Washington Park, adjacent to the downtown UAlbany campus -- is a former school. It's currently undergoing a residential conversion project.
Always curious about these sorts of re-purposing projects, we talked with the development company. And here's what's up.
The plan for 27 Western Ave includes 31 units, says Ali Gutman with Fairbank Properties. The building will include studio, 1 BR (single floor lofts, and duplexes), and 2 BR apartments. Rents will range from $750 per month for studios, $900-$1350 for 1 BRs, and $1500-$2000 for 2 BRs. Rent includes parking (1 space for each unit -- apparently there was some concern about that), fitness center, laundry, a bike room, and water. Utilities and heat are not included. [TU]
The project website includes renderings and unit floor plans.
Gutman says the project is almost complete. They're expecting to start showing the apartments in mid-September and start signing leases at the start of October.
Fairbank bought the property from the Albany school district in January 2011. The Albany schools had been using the building as the Adult Learning Center. [Biz Review]
Gutman says Fairbank was drawn to the stately building because of its large windows, brickwork, and wide staircases with "huge" landings. She says the building will retain some of its original details (though, sorry, no chalkboards). The units have ceiling heights that range from 12-17 feet, and include exposed piping and ductwork.
Another factor that drew the developer: location. The building is right across from Washington Park, within walkable distance of Lark Street and downtown.
There are large format exterior photos of the building at the top page -- scroll all the way up.
27 Western Ave apartments
27 Western Ave
Albany, NY 12203
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