ALBANY — Redburn Development Partners, the leading real estate development firm based in New York’s Capital Region, unveiled the name to its $65 million-plus transformational project of the former Warehouse at Huck Finn in North Albany, in addition to announcing the four inaugural commercial tenants.
Slip 12, a name that harkens to the building’s historical industrial use along the Erie Canal, will be the name of the project. The building, which was built in 1918 for the Albany Perforated Wrapping Company, will house 273 apartments and 45,000 square feet of commercial retail space.
“This is unlike any other development we’ve ever tackled,” said Jeff Buell, principal, Redburn Development Partners. “This is a genuine mixed-use endeavor, carefully curated for the people that live there, but also the people around the region that have visited for decades. We are incredibly excited for what could be.”
The first phase of the apartments will be done in October 2022. Commercial retail space will be complete by the late summer/early fall of 2022. The four retail tenants include Huck Finn Home, the next generation of the iconic furniture retailer; Real McCoy Brewing Co., the Delmar, N.Y.-based brewery; PWR, the HIIT-focused workout community; and Motor Oil Coffee, the Albany-based craft coffee company.
“Having worked on so many projects and initiatives within the Warehouse District, this is truly exciting that we’re able to open Motor Oil Coffee right in Albany – truly made possible by the incredible team at Redburn Development,” said Joe Bonilla and Rich Fazio, co-founders, Motor Oil Coffee. “As our flagship location, we want our fans and customers to come in to truly experience the Motor Oil Coffee lifestyle of revving up to start your day or keep your body’s engine rolling.”
“We are thrilled to be part of this exciting project and look forward to welcoming guests into our new Next Generation Store here at Slip 12. Since we moved into the Warehouse District in the 1990s, our goal has always been to provide the Capital Region with a unique and inspiring shopping experience. This is yet another opportunity for us to do it again! Our Huck Finn Home store, at this location, will feature home furnishings, rugs and accessories for every room in the home offering the great value and customer service we have always been known for. We can’t wait for you to see it,” said Steven Vanderwarker, president, Huck Finn Home.
Financing for Slip 12 was made possible by Key Bank and JPMorgan Chase.
“Investing in the communities we serve is part of KeyBank’s mission and we are all proud to be part of the group that is making Reburn Development’s Slip 12 Project happen,” said Mark Flanders, senior banker, KeyBank Real Estate Capital. “Slip 12 will have a transformative impact on this neighborhood, bringing new business, reasonably priced apartments, excitement and promise to our region.”
“We are thrilled to celebrate another milestone in the Slip 12 Project with the Redburn Team and look forward to seeing how this mix of commercial and residential space will continue to transform the community,” said Bill Dehmer, managing director, Commercial Bank, JPMorgan Chase. “This project is yet another significant investment in Albany’s vibrant and diverse economic future.”