The owner of one of the city’s most famous blighted structures, Central Warehouse, says it will take six months and more than $300,000 to make it secure and useable again.
The estimates were part of the bankruptcy filings for The Phoenix of Albany owner Evan Blum, who is fighting to stave off Albany County’s attempt to take over the property and auction it off.
The biggest expense will be roughly $150,000 in asbestos abatement, as well as $35,000 for roof repairs, $25,000 in sprinkler repairs and $20,000 in rubbish removal, according to court documents.
The filings were first reported by the Albany Business Review.
Once that work was completed, Blum’s proposal calls for him to begin moving items from his other business, Demolition Depot, into the warehouse to open a new showroom. Blum has a large collection of various fixtures, doors, fireplaces and façades he sells or rents.
His more ambitious future plans include turning part of the building into an art venue for up to 700 under-represented artists and crafters to exhibit their work, as well as leasing remaining space, including a proposed rooftop restaurant and banquet space.
