Albany Business Review: First-time developer wrapping up $2M Albany apartment project

"At age 32, Rich Guido is about to finish his first commercial real estate development as a business owner, and he's looking forward to doing more in the Albany region. 

 

...As sole owner of Guido Development Group, he was able to put together a roughly $2 million project on two vacant parcels. He secured tax incentives from the Albany Industrial Development Agency and financing from Pioneer — no easy feat.

 

...'It was hard,' Guido said. 'I'm not going to lie. I have this Excel spreadsheet with probably 30 lenders. Without a track record it's hard to get a loan, and without a loan you can't get a track record.'

'Pioneer was great,' he added. 'They allowed me to get this first one under my belt and will hopefully lead to more opportunities in the future.'