$55 Million Project To Redevelop Olbiston Apartments In Utica
Utica Mayor Robert Palmieri and Randy Denton, the Executive Director of Liberty Affordable Housing, made a major housing project announcement on Thursday.
Palmieri says Liberty has purchased and will redevelop the Olbiston Apartment Building on Genesee Street.
Liberty will invest $55 million on the project and re-establish 153 affordable housing units.
The city has allocated $3 million from the Utica Prosperity Initiative in support of Liberty’s project. The $3 million investment consists of funding from the American Rescue Plan Act
“This is a major announcement and an exciting day for the City of Utica. Similar to the former Roosevelt School, this is yet another example of the Administration working with local developers to transform dilapidated eye sores into community assets. The city is thrilled to work with Liberty on this important initiative as it will greatly improve the neighborhood and the quality of life for hundreds of Utica residents,” said Palmeri. “Liberty Affordable Housing has been a great company to work with, and I commend and thank Randy Denton for his outstanding leadership.”
Palmieri says the city has worked collaboratively with Liberty over the past several months to explore opportunities in hopes of restoring the building.
Immediate work to secure the roof will take in the near future. The project is scheduled to begin in the spring, with construction expected to take 24 months.
The city shutdown the Olbiston Apartments earlier this year due to unsafe living conditions.
The city’s decision stemmed from the owner’s refusal to address several code violations
The city partnered with Oneida County, and over a dozen organizations, to relocate Olbiston tenants.