ALBANY, N.Y. (NEWS10) — A foreclosed building was acquired by Albany Clinton Redevelopment from Albany County Land Bank. In March 2021, work began on restoring the building starting the $1.2 million project.
525 Clinton Ave was left in poor condition being a shell of a building, needing joists, floors, and partitions. After the restoration, 16 apartments were created in nine months. These apartments were all rented within two and a half months. NYS and Federal Rehabilitation Tax Credits aided in funding and this process.