New Student Housing Facility Opens At 1385 Washington Avenue Supporting Growth at Albany World-Class Institutions

August 23, 2018

A ribbon cutting ceremony on Thursday marked the official opening of Auden Albany, a new private student dorm facility located at 1385 Washington Avenue, the site of the former Red Carpet Inn. This $30.5 million project, a 101-unit or 322-bed 142,000 sq. ft. student housing facility created nearly 100 construction jobs. The facility will boost revenue to local taxing jurisdictions and assist in attracting top talent to Albany’s world-class institutions.

Over the next seven years alone, the project is estimated to generate $1,996,201 in real property taxes, an increase of more than five times the revenue anticipated to have been collected without this new investment. Once its PILOT agreement concludes in 2024 the project is projected to produce $522,396 in real property taxes annually for local taxing jurisdictions.

The state-of-the-art facility stands four stories tall and was constructed over a partially-underground parking garage of 48,000 sq. ft. with 141 parking spaces. Units are fully furnished, one to four-bedroom units. Residents can enjoy amenities such as in-unit laundry, fitness center, study rooms, residents lounge, gaming room, two court yards and more.