Sign Up and Stay Updated on the NYS $200M+ Downtown Albany Initiative

May 28, 2025

Through this year’s Executive Budget, Governor Hochul launched the Championing Albany’s Potential (CAP) Initiative, to invest $400 million to in part revitalize the state museum, and downtown core of Albany, in partnership with local stakeholders. As part of this effort ESD has selected MIG, a nationally recognized planning and economic development firm, to lead a collaborative planning effort to develop a long-term growth strategy for downtown Albany. The strategy will provide a framework for local leaders and stakeholders to effectively implement public safety and quality-of-life interventions, economic development strategies, infrastructure investments, community design approaches, and related public services.

Informed by local stakeholders, the Governor’s commitment to Albany will play out through a comprehensive community engagement process with the public, elected representatives, and community leaders to identify key opportunities to promote business development, bolster public safety, build out community anchors, encourage housing, and enhance affordability.

This investment includes $200 million to make real investments into tangible strategies and projects to revitalize Albany’s core downtown and adjacent neighborhoods within a mile of the State Capitol.

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