ALBANY, GA (WALB) - ADICA board members got their first look at a proposed luxury apartment project for downtown Albany Wednesday.
Anthony King is looking for investors to help turn Albany Heights into an empty former assisted living center into high-end one and two bedroom apartments.
He presented his plan to ADICA leaders and told them how he believes it could help transform downtown Albany. The city owns the building. King hopes to be able to buy it through ADICA.
Wednesday night, board members decided to put together a special projects team to figure out how to do that. The board also asked for more time to study King's proposal so they can come up with questions and determine the next step.
"This is a really complicated project for a lot of reasons and I think it is smart to put a committee together. What we are trying to do right now is solicit investors and figure out the financial components. There will be some city money some historic tax credit and a lot of private investments. So will try to figure out the city taxpayers part of it," said Anthony King, Investor.
King says he has several meetings with potential investors lined up. ADICA leaders say they will do all they can to support residential development in downtown Albany.
King says since our story aired Monday night, 25 people have made reservation requests to become potential residents in Albany Heights.
For more information on Albany Heights click here.