The City of Albany has announced that the deal to sell Albany Heights has closed.

The property has been sold to Pace Burt Jr., who is planning to redevelop the building into a mixed-use development.

The new development will include 64 loft apartments units, including a reserved unit for a police officer; as well as commercial retail space on the bottom floor according to city officials.

City Manager Sharon Subadan said, “housing is an essential element for downtown redevelopment and we are extremely excited to have a local developer who has done some of the most amazing developments in other cities, to develop housing right here in our downtown”.

Albany Downtown Manager Latoya Cutts said the developer plans to begin work 30 days after the city sells him the property back in October.