NewsApril 11, 2019
75 New Luxury Apartments Open in Albany on Renovated Historic Industrial Site
On April 10, 2019, CDREIT (Capital District Real Estate Investment Team) held a grand-opening event to celebrate the completion of @HudsonPark Luxury Apartments, which offers 75 new studio and one-bedroom apartments designed for a live-work-play lifestyle in the Hudson/Park neighborhood of Albany, an area bounded by Washington Park, Lincoln Park and the Empire State Plaza. The former industrial site was recently used by Long Energy and originally by the Hinckel and Dobler breweries. The event will feature a ribbon-cutting ceremony, information on the historic breweries that made up the site, and beer tasting.
The three-building complex at 160 Myrtle Avenue maintains its historic character while housing fully modern apartments – a blend of old and new reflected in its name, @HusdonPark, according to Gilah Moses, a partner of CDREIT, the developer. “Each apartment is unique, like a mini work of art, thanks to our incredible architects at 3t. There are amazing features like brick walls, towering ceilings, spiral staircases leading to a loft area, and original beams. Some apartments include a Murphy bed that converts to a sofa and others have private entrances.”
@HudsonPark apartments include window treatments and have kitchens with luxury finishes including stainless steel appliances and quartz countertops. Some apartments have an in-unit washer and dryer, and all residents have access to laundry facilities on each floor. Community amenities include a sunlit heated courtyard, co-working space, modern fitness center, secure bicycle storage, lounge, and pet grooming center.
“Restoring a historic building is incredibly important to the community – and making trendy, comfortable housing available is a plus too,” Moses said. The community offers studio and one-bedroom apartments ranging from 285-938 square feet and rent for approximately $900-$1,500 per month. The property is marketed and managed by Sunrise Management & Consulting of Albany.
The Hudson/Park neighborhood is within walking distance of businesses around the New York State Capitol, restaurants and popular nightlife destinations on Lark Street and Delaware Avenue, and cultural destinations like the New York State Museum, Albany Institute of History & Art, and the Palace Theatre.
Made possible with support from the City of Albany Industrial Development Agency in the form of NYS sales and mortgage recording tax exemptions and federal and NYS Historic Tax Credit program in partnership with NYS Parks, the $13 million investment will greatly strengthen the neighborhood through the industrial site’s reuse.
“This redevelopment will reinvigorate an underutilized industrial site, increase its value to the City’s taxing jurisdictions and further densify Hudson/Park,” said City of Albany Industrial Development Agency CEO and Capitalize Albany Corporation president Sarah Reginelli. “Strengthening this neighborhood has a great impact, and its growth will boost surrounding businesses on Lark Street and Delaware Avenue.”
For more information on @HudsonPark, located at 160 Myrtle Avenue, Albany, please visit www.athudsonpark.com or call (518) 801-0160.