The Monroe, at 49 Sheridan Ave., is the largest residential project currently under construction in Downtown. The project will redevelop a vacant industrial building into 43 luxury one- and two-bedroom loft-style units. Apartments will offer modern amenities including wood floors, stainless steel appliances and solid surface countertops as well as off street parking spaces and private terraces/patios. These units will be ready for rent spring 2012. Capitalize Albany Corporation approved a Main Street grant for the construction rehab project, approved a primary loan on the project financing and facilitated real property tax abatement on the increased value through the IDA program as well as worked with attracting a first floor tenant for the district.
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