State of Downtown Albany Meeting Wraps up with Final Meeting on Retail

May 9, 2014

Capitalize Albany Corporation, alongside their team of world-class consultants, presented the existing conditions analysis for Downtown Albany’s retail market on Thursday, May 8th at the Hilton Albany. The meeting was the third and final installment of the State of Downtown Albany Market Series, which is part of the Impact Downtown Albany initiative. Presenting was Mayor Sheehan and retail market specialist Michael Berne of MJB Consulting.

Thursday’s presentation covered a robust analysis of Downtown’s existing consumer base and retail market, as well as the market potential for future retail sector growth. This growth will leverage the momentum started by the successful partnership between the state and local institutions, which has played a major role in the City of Albany’s recent economic development wins.

“There is no better example of Governor Cuomo’s leadership than right here in the City of Albany,” says Mayor Kathy Sheehan, “Under the Governor’s leadership, a once flourishing symbol of economic strength in Downtown Albany, which has been dormant for decades, is now a model for Smart City Development. Kiernan Plaza has been brought back to life by Governor Cuomo through his investments in the SUNY College of Nanoscale Science and Engineering, bringing hundreds of jobs back into the core of this City. In addition, Governor Cuomo’s recent commitment to fund the additional convention space and a new hotel demonstrates his desire to re-build the Capital City to once again be the economic engine of Upstate New York. I look forward to working with Governor Cuomo and SUNY CNSE to further advance economic vibrancy in the City of Albany.”

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