The Albany County Land Bank is proud to announce the sale of 147 Melrose Avenue to a first-time homeowner, marking a step forward in its mission to restore and revitalize the community’s housing stock. This milestone underscores the Land Bank’s commitment to turning vacant properties into thriving homes, fostering opportunities for homeownership, and strengthening neighborhoods.
This is the 36th property sold to a first-time homebuyer since the first one that was approved in 2019 and closed in 2020. The new owner plans to renovate the house, transforming it into a welcoming family home and being an active resident of the Melrose neighborhood.
“Every vacant house we help transition into an occupied home is a victory for our whole community,” said Sean Maguire, Executive Director of the Albany County Land Bank. “This latest sale reflects our dedication to creating opportunities for families to invest in both their future and the future of our neighborhoods.”
Charles Touhey, Chairman of the Albany County Land Bank Board of Directors, added: "Properties like 147 Melrose Avenue are more than just buildings—they're opportunities. We're thrilled to support a first-time homeowner who will breathe new life into this property."
“I am proud to continue to support the Albany County Land Bank and celebrate our commitment to creating new pathways to homeownership for residents. By turning vacant or underutilized properties into affordable housing opportunities, we are empowering our residents to take their first step toward financial stability and achieving the American Dream,” said Albany County Executive Daniel P. McCoy. “To the individuals and families who have partnered with us so far, thank you for being part of this journey. You are not only investing in your own future but also the future of our County. We’re building stronger neighborhoods together, one home at a time.”
“Thanks to the Albany County Land Bank’s efforts, this new, first-time homeowner has achieved a significant milestone while also contributing to the revitalization of our community,” said Albany County Legislature Chairwoman Joanne Cunningham. “Today’s announcement highlights the success of local initiatives and county services aimed at preventing blight and highlights our efforts to address housing throughout the County. I look forward to seeing more families thrive in our neighborhoods.
“Reinvestment and revitalization are the key strategies to transform properties that have been neglected for any number of reasons,” said Albany County Legislature Deputy Chairwoman Wanda Willingham. “Far too often houses are left to deteriorate, whether it be caused by disinvestment by absentee landlords or financial hardships. Regardless of the cause, the result is always the same: a degradation of our communities. I am pleased to hear that this first time homebuyer is rehabbing a property that is already there and breathing new life into this property. We’re not only creating affordable housing but also cultivating pride and stability for both families and neighbors. Offering people the chance to own and build their homes is a significant accomplishment, one that many work a lifetime to achieve. Housing is a continued priority for the Albany County Legislature, one that we will continue to invest in throughout 2025.”
The Albany County Land Bank continues to focus on its mission of transforming abandoned properties into community assets through strategic property management, partnerships, and initiatives that promote stability and growth.