Office parks · New York
Albany Felt Company Complex
Under construction housing redevelopment of a historic industrial site; aligned with 'reinhabit' strategy, supported by housing market data, but no details on design, affordability, or timeline. · summary, model-written
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Site profile4 elements · what this retrofit is built with · tap a chip for the evidence
Retrofit in the pipeline
This site: …under construction record · all sites with this3+ other atlas sites within 10 km
This site: 5 within 10 km computed · all sites with thisReinhabited
This site: The Lofts at One Broadway record · all sites with thisHousing
This site: …new_use field newtypes-extraction · all sites with thisNow
| Status | Under constructionWikipedia no source |
|---|---|
| Strategy | Reinhabitation, under constructionWikipedia no source |
| New uses | housingWikipedia no source |
| What is there now | The Lofts at One Broadwaynewtypes-extraction reported |
Site context
| Housing permits, Albany County (NY), 2024 | 523 units in 5+ unit buildings, 28 in 2–4, 190 single-family; 2023: 394 in 5+Census BPS |
|---|---|
| Other atlas sites nearby | 5 within 10 km, 8 within 25 km: W. Averell Harriman State Office Building Campus (6.2 km); 5-story vacant warehouse (6.6 km); Uncle Sam Atrium (7.1 km); Latham Circle Mall (8.1 km); Northway Mall (8.1 km)computed |
| Retail trade in the county, 2025 (BLS QCEW) | 20,338 jobs in 1,172 establishments; average annual pay $43,777; employment location quotient 0.87; employment +0.4% on the yearBLS QCEW 2025, NAICS 44-45, private |
| Jobs located in the tract, 2022 | 4,226 jobs; 63 in retail trade, 101 in accommodation and food (workplace blocks summed to tract 36001013602)Census LEHD LODES8 WAC 2022 |
| Upward mobility (Opportunity Atlas, 2010 tract) | children of low-income (25th percentile) families reached the 43th income percentile as adults; 2.6% incarcerated at the 2010 count (184 children in the sample); born 1978–83, measured 2014–15Opportunity Insights |
| Food access (USDA FARA 2019, 2010 tract) | low-access at 1 mile, not low-income; 100% of residents more than 1 mile from a supermarket; poverty rate 14.3%; median family income $84,536; 113 SNAP householdsUSDA ERS |
| Schools | Menands Union Free School District (KG-12); 2 public schools within 1 mile: NORTH ALBANY ACADEMY MIDDLE SCHOOL; MENANDS SCHOOLNCES EDGE |
| Elevation | 35 ft above sea level at the site pointUSGS 3DEP |
| Storm events in the county, 2016-2025 | 367 county-logged events: 240 thunderstorm wind, 54 flash flood, 38 flood, 27 hail; $8,379,000 property damage reported; forecast-zone events (most flood, winter and heat) not countedNOAA Storm Events |
| Homes for sale in ZIP 12204, 2026-09 | median list price $714,900 (+63.5% on the year); 10 active listings; median 53 days on market; 42% with a price cutRealtor.com Research |
| Retail trade in the county, 2012 to 2023 | 1,233 establishments (-6%); 20,596 jobs (-5%)Census CBP |
| Housing market in the county | typical home value $372,401 (+4% 1 yr, +32% 5 yr); typical rent $1,697/mo (+5% 1 yr), 2026-09Zillow Research |
| Traffic on the busiest road within 600 m (2024) | 11,140 vehicles a day on BROADWAY (minor arterial, 4 lanes); 1,213 trucks; 40 counted segmentsFHWA HPMS |
Summary, model-written
The Albany Felt Company Complex (Menands, NY), originally a 1902 industrial felt manufacturing site, is being redeveloped as The Lofts at One Broadway. It is currently under construction as housing, per the record. The strategy is 'reinhabit' (reusing the site for new purpose), with housing confirmed as the new use. The site is listed on the National Register of Historic Places (2014).
Why. The project is already in progress: it is under construction, approved, and sold to a developer with housing plans (per 'opp_reasons'). The housing market shows strong demand (ZHVI $372,401, 4.1% annual growth). Nearby context includes 5 developments within 10km, including a proposed state office campus 6.2km away. The project aligns with the 'reinhabit' strategy seen in 5 peer projects (e.g., Cohoes Commons, Uncle Sam Atrium).
Where it stands. Status: under construction. Permits show 190+ single-unit, 28 two-to-four-unit, and 523 five-plus-unit housing units approved for 2024 (total value $171.8M).
For a planner
- No details on timeline, design, or affordability provided.
- No data on traffic impact beyond current Broadway traffic (11,140 ADT, minor arterial).
For a developer
- Housing market data (ZHVI, ZORI) is current and positive. Project is not speculative—it is under construction with permits issued.
- No information on construction costs, financing, or occupancy rates is available in the record.
What we do not know yet
- No details on whether historic designation affects redevelopment constraints.
- No information on whether the housing will be market-rate, affordable, or mixed-income.
- No data on competition from other housing projects beyond the 5 nearby developments listed.
Generated by qwen3-30b-a3b-64k:latest on Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b) from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.
Similar sites
- W. Averell Harriman State Office Building Campus, Albany, NY · Office parks · same strategy: reinhabit; also in NY; 6 km away
- Cohoes Commons, Cohoes, NY · Malls · same strategy: reinhabit; also in NY; 11 km away
- Uncle Sam Atrium, Troy, NY · Malls · same strategy: reinhabit; also in NY; 7 km away
- Midtown Plaza, Rochester, NY · Malls · same strategy: reinhabit; also in NY
Elsewhere on the web
Search images: Google · Bing · Commons · references: ULI case studies · Google Scholar
Multifamily screen
- already in play: under construction, approved, or sold to a developer with housing plans
- housing in the record
Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.
History and original facts
| Original developer | Albany Felt Companynewtypes-extraction |
|---|---|
| Anchors | Albany Felt Company |
| County | Albany County |
| Census division | 2 · Mid-Atlantic |
| Notes | Draft from Wikipedia, model-extracted, unreviewed: The Albany Felt Company Complex, originally built in 1902 for industrial felt manufacturing, is being remodeled into apartments as The Lofts at One Broadway. |
Not yet recorded: acres, GLA, year opened, retrofit year. Know it? Tell us.
Background
The former Albany Felt Company Complex, now The Lofts at One Broadway, is located along Broadway (partly New York State Route 32) in eastern Albany County, New York, United States. It is mostly within the village of Menands, with a small portion at its southern end within the city of Albany. In 2014 it was listed on the National Register of Historic Places. In 1902 the Albany Felt Company built the first of several buildings on the site to manufacture industrial felt for the region's paper industry. Soon that building became its corporate headquarters; it expanded regularly over the first half of the 20th century to the complex's present size.
Excerpt from Wikipedia (authors and history), CC BY-SA 4.0. May be older than the record above.
Sources
- Albany Felt Company Complex · CC BY-SA 4.0
1 quoted sentence
Albany Felt Company Complex
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