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

March 22, 2019

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 Points by Sheraton hotel in May. The project will take what is currently a vacant 1.8 acre parcel and create 106 hotel rooms with an indoor pool, fitness room, a bar and lounge. The project will create 25 permanent jobs, and 100 construction jobs.

On Thursday the City of Albany Industrial Development Agency board approved an application to provide assistance to Mukura Inc. in the form of New York State sales and mortgage recording tax exemptions.

In total between both projects, more than $23 million will be invested to redevelop the vacant Howard Johnson’s site. Mt. Hope Commons site work started in November, the $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 City of Albany IDA supported project, portions of this project will have direct public infrastructure benefits. A new traffic light with a left hand turn signal will be installed to create a safer intersection for traffic and pedestrians. Sidewalks will be constructed along route 9W and Mount Hope Drive along the project’s perimeter. Two CDTA bus stops will be installed, enhancing bus transit access. The renovated properties will include retail tenants, a fitness center, the Four Points by Sheraton hotel, and other amenities.