14490 full.pdf - Georgia Department of Community Affairs
14490 full.pdf - Georgia Department of Community Affairs
14490 full.pdf - Georgia Department of Community Affairs
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6. PLANNED AND PROPOSED<br />
According to area planning and building <strong>of</strong>ficials, there are no projects either under<br />
construction or planned for the market.<br />
A spokesperson for the Albany Economic Development Commission stated that<br />
downtown Albany is currently undergoing significant commercial redevelopment.<br />
She noted that renovated downtown housing, though not currently being<br />
redeveloped, would be forthcoming as part <strong>of</strong> the <strong>full</strong> downtown redevelopment<br />
process. The proximity <strong>of</strong> this site to the redevelopment in downtown Albany<br />
enhances the value <strong>of</strong> the proposed South Albany Village.<br />
I. INTERVIEWS<br />
The following summarizes interviews with area leasing agents, government <strong>of</strong>ficials,<br />
and economic development department representatives regarding the proposed<br />
subject development and/or the overall apartment market.<br />
According to Albany area apartment managers, city development <strong>of</strong>ficials, and the<br />
Albany Economic Development Commission, Albany is in need <strong>of</strong> new, quality<br />
housing, particularly in the downtown area. One apartment manager said there “isn’t<br />
much nice housing in downtown Albany.” Much <strong>of</strong> the housing that used to exist has<br />
been torn down since a major flood occurred in 1994. That which is still standing is<br />
low in quality and appears dilapidated.<br />
Albany Economic Development Commission member Linda Moore said there are<br />
“pockets <strong>of</strong> downtown Albany with very substandard housing.” She said downtown<br />
needs new, affordable housing to compliment the commercial revitalization that is<br />
currently going on downtown. This revitalization will include significant upgrades to<br />
<strong>of</strong>fice and retail space and a downtown riverfront park that will be in proximity to the<br />
proposed site.<br />
Another apartment manager said she “gets a lot <strong>of</strong> prospective tenants at her Tax<br />
Credit property, but none <strong>of</strong> them can get in because the property is always 100%<br />
occupied.” Many people she has to turn away would likely qualify for the proposed<br />
Tax Credit units.<br />
In summation, most seem to agree that the Albany area, particularly downtown, needs<br />
quality, affordable housing, especially with the economic growth that revitalization<br />
and the addition <strong>of</strong> a riverfront entertainment park should bring to downtown.<br />
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