Fairbank Properties and H. Davis Development to begin 40,000 s/f renovation at 27 Western Avenue

Fairbank Properties, a property management firm with offices in New York City and Albany, in partnership with H. Davis Development, a leader in construction development specializing in residential conversions, will soon begin the renovation of 27 Western Ave. The 40,000 s/f building, formerly the Albany High School Annex, has been vacant since its most recent tenant, the Adult Learning Center, moved to a different location. The building, which will be converted into 33 luxury rental apartments, will offer unique housing for Albany residents. The first of its kind, this project targets professionals employed in the downtown area who want to enjoy a sense of urban living within walking distance of their employers. Tenants will benefit from the building's location, situated off the northwest corner of Washington Park, which will allow them to experience both the buzz of city life and the serenity of a natural landscape. The combination of spacious floor plans, high-end finishing, and amenities such as parking, a fitness center, a laundry room, and storage space, will create a type of apartment building that is in high demand but low supply throughout the city of Albany. Given the state of the economy, the addition of new residential rental units arrives at a pivotal moment. Since their expansion to the Capital District 6 years ago, Fairbank Properties and H. Davis Development have become one of the most active real estate operations in the Albany area. Over the years, they have established a sound reputation for offering the finest product and superior property management, while meeting the needs of their tenants and the community. As developers and property managers they are able to maintain a certain stability throughout each of their projects that allows them to conserve time, money, and resources.