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Committee advances LaSalle Station DDA for mixed‑income redevelopment; developer estimates $120 million
Summary
The Committee on Community Development voted Wednesday to recommend a designated-developer agreement for the LaSalle Station redevelopment, proposed by Wendell Companies with an Albany-area development partner. The project is planned to include about 338 residential units, mixed incomes and an estimated $120 million in construction costs.
The Committee on Community Development voted Wednesday to recommend a designated-developer agreement (DDA) for the LaSalle Station redevelopment, a transit‑oriented mixed‑use project proposed by Wendell Companies with an Albany development partner.
Dan Leonard of Wendell Companies introduced the proposal, saying the site spans about 11.5 acres adjacent to the LaSalle Station and would include mixed‑income housing and nonprofit service space along a public plaza. "This is an ideal site," Leonard said, adding the team had engaged nonprofits and planned a mix of transportation options that would let residents rely less on cars.
The developer said the current proposal calls for roughly 338 residential units, with about 320 in apartment buildings and a range of 12–24 townhomes. The last construction cost estimate the team cited was about $120,000,000, though they noted that figures could change as the design evolves. Chris Albanese, joining by video, outlined financing and regulatory arrangements commonly used with housing finance agencies and tax credits: "When we enter a project with HFA, we enter into a regulatory agreement, and the rents are based on the area median income," he said, and noted subsidy terms can extend for decades.
Council members asked about homeownership components, management and how rents would be controlled. Leonard and Albanese said ownership opportunities were encouraged but not required by the city's RFQ, and that management would be performed by the development team rather than relying solely on third‑party managers. "We would take care of the properties," Albanese said, describing a preference for in‑house management after earlier experience with outside firms.
A committee member moved to approve the DDA recommendation and the motion was seconded on the floor; the transcript records the item moving forward but does not include a roll‑call tally in the committee record. The committee also heard support for the project’s community partnerships and the potential to connect the site to the city’s East Side Trails planning.
Next steps: the recommendation will be forwarded to the Common Council for further consideration and any required approvals.
