An Historic Rehabilitation To Convert 120 Madison Ave Into Mixed-Use Development With 11 Multifamily Apartments

June 18, 2026

$4.7 million Project Will Activate Vacant Tax-Exempt Former Masonic Lodge

View Announcement Press Release 

The historic rehabilitation of 120 Madison Avenue by Hoke Development will convert the long-vacant and tax exempt former Masonic Hall located in Albany’s South End Neighborhood into the Prince Hall Apartments. The $4.7 million investment made possible with City of Albany Industrial Development Agency (IDA) support will create new housing options, commercial spaces and at least three permanent and 20 construction jobs.

The renovation will convert the upper floors into 11 multifamily apartments with 3,000 square feet of ground-floor commercial/retail space.

120 Madison Avenue is currently a vacant 3-story, approximately 14,000 square-foot commercial building requiring a full rehabilitation, including re-establishment of utilities, structural repairs, facade improvements, and hazardous materials abatement. Its current configuration serves its prior use by various clubs and organizations; most recently, it served as a Masonic Hall and does not include residential units.

In connection with the project and Hoke Development, on Thursday, the City of Albany IDA board approved an application to provide assistance to 120 Madison Ave, LLC in the form of New York State sales and mortgage recording tax exemptions, and real property tax abatements. The project will also utilize grant funding made possible through the City of Albany’s successful eighth-round Restore New York Communities Initiative application submitted in coordination with Capitalize Albany Corporation.