ALBANY — The city’s Industrial Development Agency on Thursday voted to pull $14 million in tax breaks for the stalled apartment building project at 1211 Western Ave.
The project, known as Air Albany, had been beset by delays in the years since the city’s public-private development arm voted to give its developer, DMG Investments, the multimillion-dollar payment-in-lieu-of-taxes deal. Amid mounting frustration over the lack of action to finish building what currently stands as a concrete husk near the Western Avenue entrance to the University at Albany campus, the IDA and the developer agreed to a deal in 2025, which, among other things, stipulated that construction had to resume by February of this year or else the funding would be pulled.
The vote also gave the IDA the right to claw back nearly $1 million in state sales tax and mortgage reporting tax exemptions granted to the developer…