Real Estate Development

Upstate Revitalization Initiative Award Announced To Support Liberty Park Redevelopment, Downtown Poised For Unprecedented Success

May 16, 2019 – 7:55 pm

Today, Governor Cuomo announced more than $22 million in New York State funding to support two transformational projects in Downtown Albany. Empire State Development (ESD) will provide up to $15 million in Upstate Revitalization Initiative funds to Capitalize Albany for the redevelopment of Liberty Park. This funding will support acquisition, demolition, stabilization of property, infrastructure and […]

Second Phase Of Transformative $78 Million Downtown Albany Project Under Way

April 23, 2019 – 7:05 pm

Project Update, May 16: View Press Release The second $34.5 million phase of a transformative $78 million investment in downtown Albany is under way with the mixed-use renovation of the historic Kenmore Hotel building at 76 North Pearl Street. Announced by Governor Cuomo in December — Redburn Development Partners will invest $78 million to renovate […]

$13 Million Investment Strengthens Hudson/Park Neighborhood Through Reuse Of Industrial Site

April 10, 2019 – 8:43 pm

 Located between Albany’s Washington Park, Lincoln Park and downtown Albany, the Hudson/Park Neighborhood is known for its location convenience, nearby parks and cultural diversity. With the completion of an adaptive reuse plan to transform the Long Energy site properties and warehouse building at 160 Myrtle Ave, originally Hinckel and Dobler breweries — a new […]

Four Points By Sheraton Hotel Adds To New Development, Streetscape Improvements at 351 Southern Boulevard

March 22, 2019 – 1:12 pm

A new $13.3 million hotel will be constructed at 351 Southern Boulevard, complementing 351 Diamond Development, LLC’s $10 million Mt. Hope Commons development currently under way at the 9W site. Made possible with support from the City of Albany Industrial Development Agency, Mukura Inc. plans to begin constructing a 60,000 sq. ft., four story Four […]

80 Central Avenue Investment To Support Three Impactful Non-Profits Serving The Capital Region

January 17, 2019 – 7:27 pm

In #Albany, with support from many, 80 Central Avenue is transformed and now the new home and shared space for three non-profits doing incredible work in the greater Capital Region – Northeastern Association of The Blind at Albany, @GirlsIncGCR, LifePath: https://t.co/pzlZD6Bd5f pic.twitter.com/WnrYOYykgO — ᴄᴀᴘɪᴛᴀʟɪᴢᴇ ᴀʟʙᴀɴʏ (@CapAlbanyCorp) January 17, 2019 On Thursday, Girls Inc. of the […]

Extensive $48 Million Rehabilitation Project Under Way In Arbor Hill Neighborhood

January 14, 2019 – 5:17 pm

Construction is under way, more than 200 affordable housing and mixed-income residential units are taking shape within 70 row houses as part of Home Leasing’s $47.8 million project in the Arbor Hill neighborhood and along Clinton Avenue and Ten Broeck Triangle. Each building is undergoing a gut rehab, Home Leasing is completing approximately three buildings […]

Site Work Has Begun, 9W Project To Bring New Development, Streetscape Improvements

December 28, 2018 – 5:48 pm

Mt. Hope Commons site work started in November, the new $10 million project at 351 Southern Boulevard is under way. This investment is expected to create 60 jobs (30 construction and 30 permanent) and provide new neighborhood amenities. A project made possible with support from the City of Albany Industrial Development Agency, portions of this project will […]

TRANSFORMATIVE $78 MILLION INVESTMENT ANNOUNCED BY GOVERNOR CUOMO TO TRANSFORM SEVEN PROPERTIES IN THE HEART OF DOWNTOWN ALBANY

December 14, 2018 – 7:51 pm

Located in the City of Albany’s DRI zone, further maximizing the New York State initiative’s impact — with support from Governor Cuomo and Empire State Development, Redburn Development Partners is making a substantial $78 million investment to renovate and rehabilitate seven downtown buildings, a key investment as part of the Impact Downtown Albany strategic plan’s implementation. Poised for […]

Building For Tomorrow 2018

November 28, 2018 – 10:19 pm

Joined by its investors, hundreds of community leaders and stakeholders, Capitalize Albany Corporation hosted its annual event, Building For Tomorrow 2018 on Nov. 27 at Fort Orange Brewing (450 N. Pearl), celebrating an extraordinary year of building momentum in the Capital City. In review of 2018, Capitalize Albany presented on an unprecedented year of investment and […]

$51.6 Million Sandidge Way Investment To Boost Revenue Generated More Than Four Times For Local Taxing Jurisdictions

November 15, 2018 – 9:47 pm

Click here to view the announcement’s press release An assemblage of property at the intersection of Sandidge Way (formerly Loughlin Street) and Fuller Road totaling 6.49 acres will be the site for construction of seven residential apartment buildings including a total of 252 apartment units. With this investment — the property will produce 4.47 times […]