Items tagged with 'Luke Stoddard Nathan'

How 27 properties in a Troy neighborhood ended up in a shaky situation -- and the complicated path back to solid footing

Beman Park 2152 Fourteenth St

One of the properties on Fourteenth Street.

By Luke Stoddard Nathan

On January 12, 2012, Rensselaer Polytechnic Institute in Troy issued an emergency notification, advising students who rented off-campus housing from a company called Campus Habitat "that the continuation of their ability to reside in that residence may be in immediate jeopardy." Campus Habitat had not paid its mortgage, utility bills, or real-estate taxes for several months, and was "involved in a large similar foreclosure lawsuit" near a school in Illinois, the alert advised.

Some 200 students escrowed or withheld rent; many sought new housing. And the memo was prophetic: Within weeks, the student-rental company's largest area lender, SEFCU, posted foreclosure notices on the doors of 27 homes.

Today students still occupy most of these homes, but it wasn't a straight path to this point. Sited in teetering neighborhoods in a city never far from "fiscal chaos," this critical assemblage of student housing, over the past half decade, has entailed a tangle of litigation, a protracted sale period, a surprise intervention, and millions of dollars in public and private investment -- all to overcome the actions of a landlord who profited at the community's expense and left a sizable chunk of the neighborhood untended.

(there's more)

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

Approval for another big apartment project, Warehouse District reuse, Pine Hills demos, and more exciting tales of the Albany planning board

Exciting Tales of the Albany Planning Board is a program recorded before a live studio audience once a month in which the fates of multi-million... (more)

Flowers from the Netherlands, then

Decorative arts break: The earthenware tiles above are from the collection of the Albany Institute -- they date to around 1625 and they were made... (more)

Chuck Schumer is supporting marijuana decriminalization (and thinks legalization in states has worked out pretty well)

Chuck Schumer says he'll be introducing legislation for decriminalizing marijuana on the federal level, which would allow states to decide on the legality of recreational... (more)

History days at Cherry Hill and Ten Broeck Mansion

Historic Cherry Hill and the Ten Broeck Mansion in Albany are again hosting early May history days, this time on May 6: Historic Cherry Hill:... (more)

Morning Blend

Cities and trash + The city of Albany is apparently behind schedule on mapping out a plan for how to handle its trash after the... (more)

Recent Comments

... Also I would try a Tux shop. They do measurements for other tux shops all the time (for free), it's an industry courtesy. Waldorf Tux shop (Lark St) is an independently owned, "old school" tux shop--real sense of proper fitting---not just taking the "closest size" from the rack. ...

Chuck Schumer is supporting marijuana decriminalization (and thinks legalization in states has worked out pretty well)

...has 1 comment, most recently from ace

Where to donate a virtually new mattress?

...has 10 comments, most recently from EMB

Stuff to do this weekend

...has 1 comment, most recently from Audrey

A look around the new Cafe Madison

...has 2 comments, most recently from mg

The new season of the CDPHP Cycle bike share has started up

...has 4 comments, most recently from Paul