Urban League, city take title to apartments


After 18 months of planning and negotiating, the Urban League of Northeastern New York Inc. and the Albany Housing Authority officially have become the joint owners of the Dudley Park apartment complex in the city of Albany. The new owners took title after a foreclosure sale in Albany by the U.S. Department of Housing and Urban Development. The former owner, a private company based in Florida, had defaulted on its mortgage with HUD. The partnership that now owns Dudley Park plans an extensive renovation of the deteriorated complex, reducing the number of apartments and increasing green space and other amenities. The goal of the rehabilitation project is to have the tenants eventually purchase their apartments.

From the Albany Business Journal

Construction to start on Urban League Compex

The Urban League of Northeastern New York Inc. has broken ground on a 60-unit housing complex in the Arbor Hill section of the city of Albany. The homes will start out as rental housing, but the Urban League plans to sell the houses to tenants beginning in the next five years. The $6.5 million project, called Partnership Homes, is being financed by a $110,000 grant from the city and a $6.4 million tax-exempt bond issued by the Albany Housing Authority. It is part of a larger $38 million revitalization plan that includes building a 14-store, 100,000-square-foot neighborhood shopping center called Gateway Commons, as well as rehabilitating 200 units of existing housing and purchasing and redeveloping Dudley Park, a deteriorating 263-unit apartment complex on Lark Drive. The Urban League plans an August ground breaking for Gateway Commons.

From the Albany Business Review