{"id":2767,"date":"2022-12-15T12:05:49","date_gmt":"2022-12-15T17:05:49","guid":{"rendered":"https:\/\/www.jersen.com\/?p=2767"},"modified":"2023-01-30T12:39:27","modified_gmt":"2023-01-30T17:39:27","slug":"jersen-construction-group-awarded-albany-college-dorm","status":"publish","type":"post","link":"https:\/\/www.jersen.com\/jersen-construction-group-awarded-albany-college-dorm\/","title":{"rendered":"Jersen Construction Group Awarded Albany College Dorm"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-2768 size-medium alignleft\" src=\"https:\/\/www.jersen.com\/wp-content\/uploads\/Albany-Dorm-300x225.jpeg\" alt=\"College dorm project Jersen Construction Group, Albany, NY.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.jersen.com\/wp-content\/uploads\/Albany-Dorm-300x225.jpeg 300w, https:\/\/www.jersen.com\/wp-content\/uploads\/Albany-Dorm-768x576.jpeg 768w, https:\/\/www.jersen.com\/wp-content\/uploads\/Albany-Dorm.jpeg 800w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Jersen Construction Group has been awarded a $50M Student Dorm located at 1415 Washington Avenue in Albany. This 556 Bed facility will include covered parking and 4 story apartments.<\/p>\n<p><a href=\"https:\/\/www.jersen.com\/projects-education\/\">Jersen Construction Group has built a number of college dormitories<\/a> in the Capital Region of New York.<\/p>\n<p class=\"content__segment combx paywall__content\">The former CrestHill Suites in Albany has been reduced to rubble to prepare the site for the construction of an $80 million student apartment complex.<\/p>\n<p class=\"content__segment combx paywall__content\">Scenic Investments of Manhattan will build 231 apartments at 1415 Washington Ave. across from the University at Albany, the latest example of a developer targeting the area near the university.<\/p>\n<p class=\"content__segment combx paywall__content\">Hundreds of apartments have been built in recent years geared toward students who want modern housing and amenities closer to campus than what&#8217;s available in the city&#8217;s neighborhoods.<\/p>\n<p class=\"content__segment combx paywall__content\">The builder is Jersen Construction Group of Waterford, with a scheduled completion by the start of the 2024 school year.<\/p>\n<p class=\"content__segment combx paywall__content\">&#8220;We&#8217;re excited after a lot of planning and hard work to get moving on construction,&#8221; said\u00a0<a href=\"https:\/\/www.bizjournals.com\/albany\/search\/results?q=Evan%20Podob\">Evan Podob<\/a>, a partner in Scenic Investments and a 2004 UAlbany graduate.<\/p>\n<p class=\"content__segment combx paywall__content\">Costs for materials and other items have risen but the overall budget is in line with what was anticipated.<\/p>\n<p class=\"content__segment combx paywall__content\">&#8220;When you put these deals together and you go to build them there&#8217;s a little bit of value engineering, but we are confident and excited to deliver a great product for the school and its students,&#8221; Podob said.<\/p>\n<p class=\"content__segment combx paywall__content\">Rents will be comparable to what&#8217;s being charged at Auden Albany and Block 75 Apartments, two other privately owned student rentals on Washington Avenue.<\/p>\n<p class=\"content__segment combx paywall__content\">The 95-room CrestHill Suites had been used for\u00a0<a href=\"https:\/\/www.bizjournals.com\/albany\/news\/2017\/09\/21\/no-dorm-at-suny-poly-means-hotel-living.html\">several years to house students attending SUNY Polytechnic Institute<\/a>.<\/p>\n<p><img decoding=\"async\" class=\"alignleft wp-image-2780 size-medium\" src=\"https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1-300x225.jpeg\" alt=\"Foundations for the new 1415 Western Avenue College Dorm project at SUNY Albany. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1-300x225.jpeg 300w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1-1030x773.jpeg 1030w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1-768x576.jpeg 768w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1-1536x1152.jpeg 1536w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-1.jpeg 2000w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/> <img decoding=\"async\" class=\"alignright wp-image-2781 size-medium\" src=\"https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3-225x300.jpeg\" alt=\"Demolition at the new 1415 Western Avenue College Dormitory project completed by Jersen Construction Group. \" width=\"225\" height=\"300\" srcset=\"https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3-225x300.jpeg 225w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3-773x1030.jpeg 773w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3-768x1024.jpeg 768w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3-1152x1536.jpeg 1152w, https:\/\/www.jersen.com\/wp-content\/uploads\/1415-3.jpeg 1500w\" sizes=\"(max-width: 225px) 100vw, 225px\" \/><\/p>\n<p class=\"content__segment combx paywall__content\">As part of the deal, Scenic Investments negotiated an agreement with the city of Albany to comply with a zoning requirement that&#8217;s intended to provide affordable housing.<\/p>\n<p class=\"content__segment combx paywall__content\">The &#8220;inclusionary zoning&#8221; ordinance, which took effect in 2017, requires the owners of new multifamily buildings with more than 50 units to sell or rent at least 5% of the units at prices affordable to people who earn no more than the area median household income in Albany.<\/p>\n<p class=\"content__segment combx paywall__content\">The new Washington Avenue development was the first student dormitory project subjected to the requirement, but Scenic Investments sought an alternative arrangement given that college students won&#8217;t live there year-round and rely on a mix of loans, grants and family savings to pay the rent.<\/p>\n<p class=\"content__segment combx paywall__content\">Under the agreement, Scenic Investments will instead make a $300,000 donation to Habitat for Humanity Capital District (the amount was initially $150,000).<\/p>\n<p class=\"content__segment combx paywall__content\">&#8220;We&#8217;re just putting the finishing touches on the agreement,&#8221; Podob said. &#8220;Once that&#8217;s settled, we&#8217;ll be making our payments.&#8221;<\/p>\n<p class=\"content__segment combx paywall__content\">The first $150,000 is due when construction begins, the final payment upon completion.<\/p>\n<p class=\"content__segment combx paywall__content\"><a href=\"https:\/\/www.bizjournals.com\/albany\/search\/results?q=Christine%20Schudde\">Christine Schudde<\/a>, executive director of Habitat for Humanity Capital District, said the funding will fill the gap in construction costs for 12 homes.<\/p>\n<p class=\"content__segment combx paywall__content\">Homes built by Habitat in Albany&#8217;s Sheridan Hollow neighborhood and elsewhere in the city now cost about $280,000 to build, due to rising costs.<\/p>\n<p>Source: <a href=\"https:\/\/www.bizjournals.com\/albany\/news\/2022\/09\/27\/students-apartments-ualbany-washington-avenue.html\">https:\/\/www.bizjournals.com\/albany\/news\/2022\/09\/27\/students-apartments-ualbany-washington-avenue.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Jersen Construction Group has been awarded a $50M Student Dorm located at 1415 Washington Avenue in Albany. This 556 Bed facility will include covered parking and 4 story apartments. Jersen Construction Group has built a number of college dormitories in the Capital Region of New York. The former CrestHill Suites in Albany has been [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":2768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[14,6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - 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