The former Freihofer’s Baking Company building in Albany will now be a place to live.

Albany leaders celebrated the new apartment complex in the Sheridan Hollow Neighborhood on Friday.

The space was turned into 38 market-rate apartments and more than 10,000 square feet of commercial space.

There was an open house and ribbon-cutting ceremony for any interested tenants.

The space was rehabilitated with a $6.5 million grant from National Grid.