Community Preservation Corp. places $1.53M in financing for 800-806 Broadway redevelopment

ALBANY, NY — With the redevelopment of 800-806 Broadway completed, property on the cusp of Albany’s warehouse district and Arbor Hill neighborhood has 15 new one and two-bedroom apartments. A $2 million investment made by developer Patrick Chiou of 800 Broadway, LLC transformed four dilapidated buildings, abandoned for nearly a decade near the district’s southern edge and considered dangerous to enter. The property was acquired through an Albany County auction. An event was held recently to celebrate the project’s completion.
“These 15 newly renovated one and two-bedroom units are another example of the revitalization underway at the gateway between our growing Warehouse District, Arbor Hill, and Downtown neighborhoods,” said Albany Mayor Kathy Sheehan. “Thank you to Patrick Chiou for making this sizeable investment in these neighborhoods, and to the Community Preservation Corporation (CPC) and Capitalize Albany for their assistance in making this project a reality.”

 

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