Olbiston Apartments

lbiston Apartments represents a significant revitalization effort involving the acquisition and substantial rehabilitation of a historic 7-story building in Utica. Originally constructed in 1898 on the site of the former Genesee Flats, which was Utica, NY's largest and most opulent apartment building until a fire in 1896, the Olbiston emerged as the largest apartment building between Utica and Buffalo at that time.

Liberty Affordable Housing acquired the Olbiston in December 2021, and the renovation project was completed in August 2024. The revitalized building now offers 153 studio, one-bedroom, and two-bedroom apartments, available at 60% and 80% of the Area Median Income (AMI), providing high-quality, affordable housing options.

The renovation has preserved several historic elements, including marble tile, hardwood flooring, the original brick exterior, select exterior windows, and fireplace mantles, while introducing contemporary features such as stainless steel appliances, quartz countertops, and modern kitchen and bathroom fixtures. This blend of historical charm and modern amenities ensures a unique living experience.

The redevelopment was financed through a combination of tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), State Low-Income Housing Credits (SLIHC), federal and state historic tax credits, and subsidies from the Housing Finance Agency (HFA) New Construction Program and Middle-Income Housing Program.