The construction has been completed on Station 25, a two-building affordable housing development in the City of Albany, New York, US.
The $22m project, developed by Conifer, is part of the Park South Urban Renewal Plan.
The complex includes a five-storey residential structure and a repurposed historical building, formerly the Fire Signal Equipment Building, which now hosts the development’s amenities.
The building dates to 1917 when it served as the original fire signal equipment building for the Albany Fire Department.
After closing in 1967, it was converted into the Louise Corning Senior Citizens Center in 1976, which operated until 2011.
The building stood vacant until Conifer’s acquisition and subsequent development into Station 25.
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By GlobalDataThe development now features 51 apartments providing residents access to amenities such as a community room, bicycle storage space, and a fitness centre.
It also has an outdoor playground accessible to individuals with mobility impairments and is located next to the Boys & Girls Clubs of the Capital Area’s Albany Clubhouse.
New York governor Kathy Hochul said: “The completion of Station 25 brings more than 50 critically needed apartments to an Albany neighbourhood identified for revitalisation by local leaders, while at the same time preserving a historic gem for years to come.
“My administration is committed to neighbourhood revitalisation and combating the affordability crisis in every region of the state through transformative investments in new construction and housing preservation.”
Station 25 has achieved certification from the US Green Building Council’s Leadership in Energy and Environmental Design for Homes Program and the Environmental Protection Agency’s Energy Star Multifamily New Construction Program.
The development incorporates energy-saving features such as Energy Star-rated light fixtures, appliances, and new heating and air-conditioning systems.
Financial support for the project came from the Housing and Community Renewal federal and state Low Income Housing Tax Credit programme, which generated approximately $11m in equity and $6.9m in subsidy.
Additionally, the City of Albany contributed $500,000 through the HOME programme, further facilitating the development of this affordable housing initiative.
