ALBANY, N.Y. (NEWS10) – The Albany County Land Bank is looking for input on an area in the city’s Beverwyck neighborhood that is set for redevelopment. The group is looking for experienced and qualified parties to submit proposals for how to change a 1.8-acre space in the neighborhood.
The Land Bank put out a Request for Qualifications on Tuesday, seeking a development team or partnership who can finance and redevelop what is currently a quartet of separate adjoining properties between Central Avenue and Washington Avenue. The goal is to transform those properties into a mixed-use development, that can provide affordable housing and community hub space. The hope is to house one or more nonprofits, community groups, services, small businesses or services there, to benefit the property’s neighbors in Beverwyck.
“Before us is a rare opportunity to transform a large assemblage of vacant properties into something that benefits the surrounding community,” said Adam Zaranko, Executive Director of the Albany County Land Bank Corporation. “Through this unique approach we hope to bring together qualified developers and local organizations to facilitate the type of creative collaborations that make for really impactful projects.”
The 1.86 acres break down into 81,021 square feet. The four structures include 130 Ontario St., 135 Ontario St., 134 West St. and 154 West St. All four were purchased by Albany County Land Bank through tax foreclosure sales.
The land bank has already received inquiries from nonprofits and community organizations interested in the properties. The group says that most inquiries received were from groups that lacked either the finances, expertise or experience needed to perform the degree of redevelopment needed.
The land bank is hoping to create a community hub that would directly help surrounding neighbors. In some cases, that can mean pharmacy and medical services, nonprofits offering youth programming, fitness centers, shared classroom spaces, or indoor marketplaces.
“There is so much untapped potential in the Beverwyck and West Hill neighborhoods and this is an exciting opportunity for a developer to leave their mark on a city that continues to recover, grow, and thrive like never before,” said Albany County Executive Daniel P. McCoy. “Projects like this that combine multiple tax-foreclosed properties are examples of how our Land Bank is helping us revitalize entire swaths of Albany County at a time, and the inclusion of mixed-income housing and a Community Hub space will have an important impact on the surrounding community.”
The Request for Qualifications, and more details regarding the site, can be found through Albany County Land Bank’s website. The land bank was established in 2014.
