Groundbreaking At 745 Broadway, $22.7 Million Mixed-Use Development Set To Strengthen Neighborhood Connectivity
May 26, 2022
The start of construction was celebrated at 745 Broadway in downtown Thursday. Rosenblum Companies’ new $22+ million mixed-use development will strengthen neighborhood connectivity between downtown, Clinton Square and the warehouse district, while also tripling revenue to local taxing jurisdictions anticipated without the new investment. It was unveiled the building’s name will be Industrie.
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Industrie will be a newly constructed, 110,000 square foot, five-story mixed use building offering 80 studio, one- and two-bedroom apartments as well as 2,200+ square feet of street-level commercial space with restaurant-ready infrastructure facing the Broadway arterial. Extensive communal amenities for residents include a roof deck with cook station, coworking lounge, fitness center, pet spa, package center, heated indoor bicycle storage and onsite parking with EV charging stations.
The project will be constructed on the site of a 1.38-acre parcel used as a parking lot. Made possible with support from the City of Albany Industrial Development Agency this investment is projected to generate $3.2 million for local taxing jurisdictions over its PILOT period alone — boosting revenue more than three times anticipated without this new investment.
Industrie is Rosenblum’s second multifamily project in downtown Albany. The first, 17 Chapel Boutique Condominiums, was a catalyst for downtown multifamily residential development as part of the Downtown Residential Initiative. Industrie represents another first for the company – Rosenblum’s inaugural zero-emission apartment building.
Industrie will utilize fully electrified systems including air-source heat pumps for space conditioning and energy recovery ventilation combined with an enhanced building envelope and smart building controls to achieve at least 30% higher efficiency than a code compliant building. By increasing efficiency and offsetting energy use with a planned rooftop solar PV array, no fossil fuels will be used in building operations. Moreover, continuously filtered ventilation, controlled humidity, elimination of combustion pollutants and low VOC material selection provide superior air quality and disease resistance.
The project is committed to achieve certification to the EPA’s ENERGY STAR Multifamily New Construction program and EPA’s Indoor airPLUS program as well as NYSERDA’s Carbon Neutral-ready designation. Funding is being provided through the NYS Clean Heat Program sponsored by National Grid and the New Construction – Housing program administered by the New York State Energy Research and Development Authority (NYSERDA).
In addition to modeling more sustainable building design, Industrie will further accelerate downtown Albany’s ongoing revitalization supporting Impact Downtown Albany plan implementation and serve as another critical link connecting the downtown core and warehouse district. Its nonpareil location will provide residents with immediate access to numerous neighborhood attractions including the Palace Theater, theREP, the newly opened Skyway and forthcoming Clinton Market Collective, the Hudson riverfront and Mohawk Hudson Hike-Bike Trail.
Industrie was designed by Syvertson Rigosu Architects (SRA) of Clifton Park. Re:Vision Architecture, a B-Corp certified, deep green architecture and sustainability consulting practice based in Philadelphia, PA, provided envelope consultant and energy modeling. Aries Power, an Albany-area distributed generation development company is the Solar PV project manager; with the addition of the solar at 745 Broadway, Rosenblum has over two megawatts of rooftop solar production capacity installed or in development. Rosenblum Development is serving as the construction manager.
Apartments are scheduled to become available in phases beginning summer 2023. Prospective residents can sign up for updates on construction and leasing at www.industrieapartments.com.
Alex Kutikov of Redmark Realty is handling leasing of the commercial space, which can be subdivided into two distinct storefronts. Interested parties should contact Mr. Kutikov at 518-952-7500 or [email protected].
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