Governor Hochul Announces Completion of $22 Million, 51-Unit Affordable Housing Development in Albany

Governor Kathy Hochul today announced the completion of construction of Station 25, a two-building affordable housing development in the City of Albany featuring 51 apartments on a historic property in the Park South neighborhood. Developed by Conifer, the $22 million development consists of a newly constructed five-story residential building adjacent to a vacant historic two-story former Fire Signal Equipment Building which now houses the development's amenity spaces. In the past five years, New York State Homes and Community Renewal has created or preserved nearly 1,500 affordable homes in Albany County.

"The completion of Station 25 brings more than 50 critically needed apartments to an Albany neighborhood identified for revitalization by local leaders, while at the same time preserving a historic gem for years to come," Governor Hochul said. "My administration is committed to neighborhood revitalization and combating the affordability crisis in every region of the state through transformative investments in new construction and housing preservation."

Station 25 complements the City of Albany's Park South Urban Renewal Plan by revitalizing an underused plot and reactivating the disused historic Fire Signal Equipment Building on site. Amenities include a community room with a kitchenette, bicycle storage space, and a fitness center. The development also includes an outdoor, mobility impaired accessible playground and is located next door to the Boys & Girls Clubs of the Capital Area's Albany Clubhouse.

The energy efficient development, which has been certified by the US Green Building Council LEED for Homes Program and EPA Energy Star Multifamily New Construction Program, utilizes features including Energy Star rated light-fixtures and appliances and new energy efficient heating and air conditioning systems.

The building initially served as the original fire signal equipment building for the Albany Fire Department from 1917 until it closed in 1967. The building was then converted into the Louise Corning Senior Citizens Center in 1976 and remained open until 2011. It was abandoned in 2011 and remained vacant until its purchase by Conifer.

The project is supported by HCR's federal and state Low Income Housing Tax Credit program that generated approximately $11 million in equity and $6.9 million in subsidy. The City of Albany provided $500,000 through the HOME program.

Governor Hochul's Housing Agenda

Governor Hochul is committed to addressing New York's housing crisis and making the state more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York's housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide, and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 45,000 homes have been created or preserved to date.

Last August, Governor Hochul also announced the Pro-Housing Communities Program. Pro-Housing Community certification is a requirement for localities to access up to $650 million in state discretionary funding. To date, more than 160 communities have been certified, including the City of Albany.

Housing and Community Renewal Commissioner RuthAnne Visnauskas said, "The housing crisis facing New Yorkers requires investment in both newly constructed buildings and the revitalization and preservation of unused properties to create affordable opportunities. Through this $22 million investment in Station 25, dozens of households will benefit from a safe, modern home, increasing vibrancy in the heart of Albany's Park South neighborhood and preserving a piece of history for generations to come. Thanks to Governor Hochul's commitment to improving affordability for New Yorkers and the collaboration we have with our Pro Housing Communities such as Albany, we can continue to make these projects a reality across the state."

Assemblymember Patricia Fahy said, "New York State and the Capital Region are in the midst of a housing and affordability crisis. We must continue to build out our affordable housing stock to ensure that every New Yorker and Capital Region resident has access to a roof over their heads. I'm pleased to see the former Central Fire Alarm Station on Delaware Ave repurposed into new affordable housing units that will benefit our community and reduce housing insecurity in our area as part of our multi-pronged approach to aggressively addressing the housing crisis."

Albany County Executive Daniel P. McCoy said, "As demand for homes continues to outpace supply across the nation, affordable housing continues to be a top priority for countless New Yorkers. That's why I'm thrilled to see this incredible project come to fruition and move the needle on this pressing issue. Station 25 brings a unique mix of modern living spaces with a restored historic building, adding to the vibrancy of the Park South neighborhood. With plenty of amenities nearby, including Lark Street, this is a home Albany County residents can be proud of."

Albany Mayor Kathy Sheehan said, "I am thrilled to welcome a new affordable housing complex to the City of Albany thanks to the commitment of Governor Hochul and NYS HCR. Thanks to the work done by the state, this structure has been rehabilitated through adaptive reuse to create 51 affordable housing units for Albany's residents and families. The former Central Fire Alarm Station, now known as Station 25, has a historic past and has contributed to our city for over 100 years, first as the Central Alarm Fire Station for the Albany Fire Department, then as the Louise Corning Senior Citizens Center. As it enters the next era, the new life this building will continue to bring to our city is an exciting opportunity to provide stability for residents in need of housing."

Contact the Governor's Press Office