Capitalize Albany and Convention Center Authority Collaboration Moves Forward Toward Redevelopment Success at Liberty Park

December 13, 2017

A Purchase and Sale Agreement was approved this week by both the Capitalize Albany Corporation and Albany Convention Center Authority (ACCA) Boards for transfer of property interests in the roughly five acre ACCA surplus property surrounding Liberty Park in downtown Albany. This decision follows a collaborative and intensive due diligence period during which Capitalize Albany weighed the possibility of driving reinvestment in the site given the results of the 2017 Empire State Development-led Feasibility Study and an analysis of site conditions and anticipated expenses. This agreement marks an important Regional economic development milestone and an advance toward transfer of the ACCA’s surplus property and Liberty Park site redevelopment.