The first big housing proposal for the former College of Saint Rose campus in Albany's Pine Hills neighborhood is on the table, and it starts with demolition.
The Albany County Pine Hills Land Authority board voted Thursday, Oct. 8, to let CEO Michael Lalli begin contract negotiations with Jankow Companies for Development Area 1, the northeast corner of the former campus, WNYT reported. Jankow proposes about 160 one- and two-bedroom apartments in a four-story building for residents 55 and older.
The vote doesn't approve a final sale or the project. Any purchase and sale agreement has to come back to the board, and the project will go through public review and approvals, the authority said.
News10 and CBS6 reported that Jankow has offered $2.5 million for the property. CBS6 reported that Albany County Executive Dan McCoy hopes to break ground sometime next year.
Demolition first
The proposal calls for clearing the existing buildings in Development Area 1. WAMC reported that up to 17 campus buildings, including two former dorm complexes, would be demolished.
The authority said engineering assessments and economic analyses found major physical and functional problems with reusing several of the structures. It also noted that all three proposals it received called for full demolition of the existing buildings in the area.
"We have to make this work. It costs a lot of money to maintain these buildings and the infrastructure," McCoy told reporters, according to WAMC. He acknowledged some people will be unhappy with the demolition but said some of the residential buildings are beyond repair.
Aimed at downsizers
The authority said the project is aimed at middle-income older adults who want to downsize and live independently near services, transit, health care, businesses and cultural institutions. Proposed amenities include fitness and wellness areas, community gathering spaces, a theater, a library or reading room, outdoor courtyards, community gardens, resident programming and on-site management.
The authority pointed to a September 2025 Cresa survey of 18 active-adult apartment developments in the Capital Region that found a vacancy rate of 1.9%. It also said adults 55 and older make up 31% of the population within five miles of the campus.
"During the Reimagine Saint Rose planning process, residents made clear that housing should be an important part of the campus's future, including options for older adults who want to downsize while remaining in the neighborhood," said authority Chairwoman Alison Walsh.
"This proposal gives us an opportunity to create housing that helps older adults remain in the community, with gathering spaces, wellness amenities and connections to the surrounding neighborhood," Lalli said. "We look forward to refining it with the people who live and work here."
Jankow's president said the company envisions "a vibrant, attainable 55+ senior living community that allows Albany residents to remain in the community they call home."
The authority issued its request for proposals on May 27 and received three responses. Jankow ranked highest and its proposal includes 10 of the 12 elements in the Reimagine Saint Rose Playbook, the community-based plan for the 26.5-acre campus. The authority will now negotiate a master development agreement covering development obligations, public spaces and infrastructure responsibilities.
"This proposed project fits directly into Albany County's broader economic development strategy: returning underused properties to productive use, attracting private investment and building communities where people want to live," McCoy said.
The land authority bought the campus for $35 million in late 2024 after the college closed. Other parts of the campus now house county offices and recreational programs, including pickleball, chair yoga and senior financial classes.
No general contractor has been named; the project is still at the proposal stage.
Why it matters for Contractors
This is an early look at a job that could start next year if negotiations and public review go smoothly. The first work will be demolition: up to 17 buildings, including two dorm complexes, which means abatement, demolition and site clearing contractors should watch this closely. After that comes a four-story, 160-unit building with a long list of amenities, a solid mid-size job for Capital Region structural, MEP and finish trades. The 26.5-acre campus has other development areas, so this deal could set the pattern for more work in Pine Hills. With active-adult vacancies under 2%, contractors who build senior housing have reason to watch for more proposals like this one around Albany.