Downtown Albany Strategy Fund Application Portal Now Open

March 2, 2026

The Downtown Albany Strategy (DAS) fund application portal is now open. The $200 million in Downtown Albany Strategy funding is part of Governor Kathy Hochul’s broader Championing Albany’s Potential (CAP) Initiative. Information about applying for DAS funding through the NYS Consolidated Funding Application and Program guidelines are now available through Empire State Development’s CAP Initiative page, with eligibility requirements and application details.

CAP Initiative Logo, A black banner-style logo. On the left is a stylized skyline graphic in blue, with a tall yellow shape near the center and the large letters “CAP” in dark blue. Under the left graphic/text area, it reads: “Championing Albany’s Potential” On the right, in large dark-blue text, it reads: “Downtown Albany Strategy”

The funding, detailed in the Downtown Albany Strategy will support catalytic redevelopment projects, expand housing opportunities, and strengthen community assets located within a one-mile radius of the capitol. There are three targeted funds, each has its own guidelines. 

 

Full details are available on ESD’s CAP Initiative Page here.

 

CAP Transformative Projects Fund: The $120 million Transformative Projects Fund will support a small number of high-impact projects that can reset market confidence and attract follow-on private investment.

 

CAP Housing Investment Fund: The $40 million Housing Investment Fund will accelerate housing delivery through a mix of catalytic grants and low-cost loans for repeatable, mixed-income projects.

 

CAP Community Investment Fund: The $40 million Community Investment Fund will support people-centered investments in public spaces, commercial corridors, and community anchors—strengthening Downtown’s everyday experience while reinforcing long-term economic vitality.

 

Downtown Albany Strategy Fund Map graphic, a color-coded map of downtown Albany, New York, with several semi-transparent colored zones labeled with large white numbers 1 through 7. A light-blue river labeled “Hudson River” runs along the right side, and a dashed teal boundary arc appears along the left and lower edges of the map. The numbered zones overlap and cover different parts of the downtown street grid: 1 is a dark maroon area near the center-right, around the Capitol-area blocks (near labels “West Capitol Park” and “East Capitol Park”). 2 is a larger reddish area stretching along the right side near the river, with two separate “2” labels (one mid-right and another lower-right). 3 is a blue area in the upper-right, near the river and close to highway markings. 4 is a teal/green area in the lower-middle portion of the map. 5 is an orange area in the upper-left/upper-middle area. 6 is a yellow area left of center. 7 is a pale yellow/tan area in the upper-middle/right-of-center. Legend text (verbatim): 1 Albany’s Downtown Heart 2 Albany’s New Downtown Neighborhoods 3 Warehouse District Gateway 4 South End Gateway 5 International District 6 Center Square 7 Clinton Square Arts & Heritage District