Sheridan Hollow redevelopment: now rented

Sheridan Hollow redev 2016-August

Looking east along Sheridan Ave toward downtown Albany. Those two larger buildings in the foreground are the mixed-use buildings that will eventually include space for Habitat for Humanity Capital District and The Hungry Hollow cafe.

Here's a quick update on the ongoing Sheridan Hollow redevelopment project in Albany, one of the most interesting real estate projects in the Capital Region...

The 57 rental units centered around Sheridan Ave and Dove Street have been rented or otherwise set aside, and a large majority of them are now occupied. (There was an official ribbon cutting this week.) The units are distributed among 17 buildings constructed by the Syracuse-based org Housing Visions, and they join the 20 owner-occupied single-family and two-family homes already built there by Habitat for Humanity Capital District. (Habitat's now working on 10 new homes nearby.)

The rents for the affordable housing units are based on a sliding scale, according to Housing Visions. For example: rents for a 1BR unit range from $615-$1076 based on a household's income. If you're curious, there's a more detailed breakdown of the rents after the jump.

Housing Visions has also built two mixed-use buildings at the site. Both will include residential units upstairs, one of them with units set aside from tenants referred to Housing Visions by social services orgs. Also planned for the mixed-use buildings: office space for Habitat and a cafe -- the Hungry Hollow -- scheduled for a grand opening in October.

Rents

The Housing Visions rental units in Sheridan Hollow are available to households with incomes that are 40-70 percent of the area median income (AMI) for a household's size. For 2016, the AMI for a family of four in the Albany-Schenectady-Troy metro is $82,000. (For one person, it's $57,400.) So, for a family of four, 40 percent of the AMI is $32,800 and 70 percent is $57,400.

Depending on where a household's income falls on that spectrum, its rent is set accordingly. Rents -- including utilities -- can be up to 30 percent of a household's income.

Here are the maximum rent ranges for the Sheridan Hollow units, according to Housing Visions:

1BR: $615 - $1,076

2BR: $738 - $1,297

3BR: $853 - $1,492

4BR: $952 - $1,664

(Housing Visions says there are just two 4BR units in the Sheridan Hollow project.)

Comments

This is such great news. Well done, Habitat! The buildings look great, too.

My favorite bit, though: The name of the cafe.

These look good but I'll reserve my reservations for a few years. HAbitat hasn't exactly used the highest quality building materials.

Say Something!

We'd really like you to take part in the conversation here at All Over Albany. But we do have a few rules here. Don't worry, they're easy. The first: be kind. The second: treat everyone else with the same respect you'd like to see in return. Cool? Great, post away. Comments are moderated so it might take a little while for your comment to show up. Thanks for being patient.

What's All Over Albany?

All Over Albany is for interested and interesting people in New York's Capital Region. In other words, it's for you. It's kind of like having a smart, savvy friend who can help you find out what's up. Oh, and our friends call us AOA.

Search

Recently on All Over Albany

The Albany Book Festival is this coming weekend and it also includes a big list of local authors

A reminder that the first Albany Book Festival is this Saturday, September 29 on UAlbany's uptown campus. The lineup is absolutely stacked with prominent authors,... (more)

Drawing: Oktoberfest Block Party VIP tickets

The annual Oktoberfest block party in North Albany organized by Wolff's is this Saturday, September 29. We have two VIP tickets for the festival to... (more)

Anarchists in the townhome

Over at the Times Union, Lynda Williams profiles a group of freegan anarchists who have been squatting in a vacant Albany townhome without utilities for... (more)

The deadline to apply for this year's $2,500 AOA Startup Grant is this week! And you should apply! Yes, you!

How's that entry for this year's AOA Startup Grant coming along? The deadline for entering this year's $2,500 AOA Startup Grant contest is this Wednesday,... (more)

Troy Letter

Check it out: Local journalist Luke Stoddard Nathan has started a weekly email newsletter about all sorts of Troy-related things. It is called, fittingly, Troy... (more)

Recent Comments

La Mexicana is a treasure. We always buy a few packages of the Chorizo and freeze them (after stopping in for tacos) -Great market and really cool restaurant.

Drawing: Oktoberfest Block Party VIP tickets

...has 11 comments, most recently from Katie

Morning Blend for Sep 24

...has 1 comment, most recently from ace

Mapping out the future for an alternative transportation network in the Capital District

...has 3 comments, most recently from ivan vamos

Stuff to do this weekend

...has 3 comments, most recently from Rich

All the current Stewart's seasonal summer ice cream flavors, ranked

...has 7 comments, most recently from Amy Smith