News

132-Room Hotel As Part of Quackenbush Square Development To Transform 1.67-Acre Former Brownfield Site In Downtown Albany

June 20, 2019 – 8:37 pm

Click here to view the announcement’s press release A new $30.4 million investment will transform a highly visible site along Broadway. As part of Pioneer Companies’ large mixed-use Quackenbush Square development project, a new 132-room hotel will strengthen the connection between downtown Albany, Clinton Square and the warehouse district, support nearby businesses and area attractions. […]

Rehabilitation of Vacant 251 North Pearl Street Supports City of Albany Neighborhood Revitalization

June 20, 2019 – 8:13 pm

Click here to view the announcement’s press release Supported by the City of Albany Industrial Development Agency and by the City of Albany through the Restore New York Communities Initiative, vacant 251 North Pearl Street will be renovated and transformed into the new and permanent home of the Capital Repertory Theatre (theREP). The $9.5 million […]

First Vendors Now Open At New Downtown Albany Food Court

June 19, 2019 – 2:35 pm

The 50 South Eatery’s first vendors have began serving as part of a soft-opening phase of the new downtown Albany food court. Across from the Times Union Center, below 50 South Pearl Street’s 15 market-rate apartments, on the ground-floor 3,475 sq. ft. of space was transformed into seven restaurant stalls with shared dine-in space. The […]

Construction At 52-54 North Pearl Is Under Way

June 14, 2019 – 2:51 pm

Supported in part by the City of Albany Small Business Facade Improvement Program, work is under way at 52-54 North Pearl Street in downtown. Vacant for more than two decades, renovation of the side-by-side, 12,000 sq. ft. buildings will build ground-floor retail space and convert the upper two floors into four apartments. The Facade Improvement Grant […]

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 […]

CFA Workshop at Albany City Hall On May 20

May 14, 2019 – 8:21 pm

Governor Cuomo’s transformative Regional Economic Development Councils Round IX consolidated funding application (CFA) process is under way and Capitalize Albany Corporation will be hosting an informational session and application workshop on Monday, May 20 at Albany City Hall from 5:30 – 6:30 p.m. Contact Capitalize Albany staff at development@capitalizealbany.com with any questions and to RSVP for this workshop. A PDF flier is available here. Assisting local […]

Applications Available, City of Albany Small Business Facade Improvement Program Spring Funding Window

May 7, 2019 – 3:40 pm

VIEW PRESS RELEASE   Applications are now available as part of the City of Albany Small Business Facade Improvement Program’s third-round spring funding window with an additional $100,000 in matching grants being made available to support small business owners citywide. The program can provide matching grants up to $10,000 to small businesses and/or commercial property owners for exterior […]

$5 Million Award To Support Skyway Amenities, Maximizing Usage

May 6, 2019 – 4:03 pm

In April Governor Cuomo announced $27 million in funding to support transportation enhancements in the Capital Region as part of a $144.6 million statewide investment to enhance access for bicyclists and pedestrians. The Skyway was awarded $5 million.   Governor Cuomo’s previous announcement of $3.1 million of DOT-funding supports decommissioning the ramp and all of […]

2019 CFA Process & Local Support

May 3, 2019 – 3:39 pm

Governor Cuomo’s transformative Regional Economic Development Councils Round IX consolidated funding application (CFA) process opened May 1 and Capitalize Albany staff is available to assist applicants. More than $750 million in state economic development resources will be made available. Capitalize Albany Corporation is available to coordinate letters of support from the Mayor and resolutions from the City of Albany Common Council. […]

More City of Albany Small Business Facade Improvement Program Applications To Be Accepted In May

April 25, 2019 – 1:56 pm

Additional City of Albany Small Business Facade Improvement Program applications will be accepted beginning May 7 as part of the program’s 2019 spring funding window. The program can provide matching grants up to $10,000 to small businesses and/or commercial property owners for exterior renovations. The program’s updated application and guidelines will be made available and accepted starting May 7 at www.CapitalizeAlbany.com/grants. The application […]