With 15 This Latest Round, Small Business Facade Improvement Program Tops 80 Awards, Supporting Local Growth & Reinvestment

July 22, 2025

Program Has Leveraged More than $730,000 In Private Investment

As part of the City of Albany’s Small Business Façade Improvement Program’s seventh-round which closed in May, 15 Albany small businesses and nonprofits received matching grant awards totaling more than $108,000 this month. Already, since its inaugural round the program has made more than 80 awards and supported 60 businesses’ completed projects located throughout 16 unique neighborhoods and commercial districts citywide.

 “Albany’s small businesses are the heart of our neighborhoods, and this latest round of façade improvement grants reflects our continued commitment to helping them grow and thrive. These investments don’t just improve storefronts—they build pride, support jobs, and strengthen the fabric of our community,” said City of Albany Mayor Kathy Sheehan. “I’m excited to see the impact of these 15 new projects and the momentum they’ll bring to commercial corridors. Thanks to Capitalize Albany, the Albany Community Development Agency, and the Capital Resource Corporation, we’re making targeted investments that support long-term economic vitality across our city.”

The citywide program is designed to provide matching grants to assist eligible small businesses and not-for-profits with up to $10,000 for exterior renovations. Administered by Capitalize Albany, it’s made possible with the support of the City of Albany Capital Resource Corporation (CRC) and the Albany Community Development Agency (ACDA).

Lincoln Pharmacy, completed Small Business Facade Improvement Program project. 

Awarded projects in Round 7 include a variety of exterior renovations ranging from installations of new awnings, signage and murals to accessibility improvements. The team at Capitalize Albany looks forward to celebrating the impact of these reinvestments with the businesses located throughout the city.

Previous rounds of the Small Business Façade Improvement Program have been tremendously successful. With small business owners’ reinvestment into their properties, since 2018, more than $300,000 in program funding has been disbursed leveraging over $730,000 in private investment, more than twice the amount of grant resources — $2.34 for every $1 of program support.

 “This latest round of façade improvement grants continues the momentum we’ve built with small businesses across Albany. These grant awards represent targeted reinvestment in our commercial corridors—enhancing visibility, accessibility, and long-term viability for each business involved,” said Capitalize Albany Corporation president and City of Albany CRC CEO Ashley Mohl. “With the support of ACDA and through the CRC’s strategic use of funding we’re able to reinvest in initiatives that strengthen Albany’s economy and commercial districts.”

Loch & Quay, completed Small Business Facade Improvement Program Project. 

Beyond its recent pandemic-recovery programs including the now closed Building Improvement Grant Program, since 2016 Capitalize Albany has designed and administered several grant programs including the Small Business Façade Improvement Program; the Downtown Albany Retail, Amplify Albany, and Neighborhood Retail grant programs. Across its programs the Corporation has made grant awards totaling more than $2.65 million to assist small businesses and organizations throughout the City of Albany. More than 90 percent of this funding has been awarded within Albany Community Development Agency’s Neighborhood Strategy Areas (NSAs) and Qualified Census Tracts. These programs have leveraged more than $6.5 million in new, private investment throughout the Capital City.

The Facade Program is not only designed to support and provide critical assistance to small businesses citywide — the program encourages new investment in City of Albany identified NSAs and the creation of low barrier to entry level jobs for City of Albany and Capital Region residents. In an effort to increase employment opportunities for local residents the City of Albany’s office of Youth & Workforce Services has been available to work with awarded applicants on identifying localized talent for their expanding small businesses.

Banh Mi 47, completed Small Business Facade Improvement Program project 

The Façade Program’s seventh-round opened April 1 and closed on May 14. All information about this program and the Corporation’s programs currently accepting applications is available at www.CapitalizeAlbany.com/grants.

Details regarding eligible applicants and improvements can be found in the Program Guidelines. An overview of improvements or renovations eligible to receive support include decorative or functional enhancements such as exterior signs, lighting, energy conservation, windows, awnings, storefronts and entrances, doors, brickwork, painting, repair to decorative details, cornices, correction of code violations, removal of non-historic materials, and upgrades of blighted buildings. Grants can also support renovations to improve compliance with the Americans with Disabilities Act. Improvements to interiors, parking lots, or sidewalks are not eligible improvements.