Downtown Residential

Downtown Albany Strategy Fund Application Portal Now Open

March 2, 2026 – 11:58 am

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 […]

Capitalize Albany Advances Liberty Park Redevelopment with RFP Addendum Aligned to Downtown Albany Strategy

February 26, 2026 – 11:29 am

  Refinement Opportunity Positions Projects to Leverage up to $40 Million in Dedicated Funding   The City of Albany’s economic development organization, Capitalize Albany Corporation, has released an addendum to master development respondents of its Liberty Park Acquisition and Redevelopment request for proposals (RFP). The addendum, which was prepared in consultation with Empire State Development […]

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

May 28, 2025 – 12:48 pm

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 […]

$29.4 Million Investment To Construct Mixed-Use Affordable Housing Development In Clinton Square Neighborhood

November 21, 2024 – 3:10 pm

Project Will Create At Least 52 Jobs, Bring Dedicated Affordable Artist Housing To Downtown View Announcement Press Release  A $29.4 million investment will bring a new construction mixed-use 67-unit affordable housing development to 794 Broadway in Albany’s Clinton Square neighborhood. Made possible with City of Albany Industrial Development Agency (IDA) support, the project is estimated […]

Central Warehouse Redevelopment Awarded $9.75 Million Through First Round Of The Restore New York Communities Initiative

December 20, 2022 – 3:56 pm

            View this post on Instagram                         A post shared by Capitalize Albany Corporation (@capalbanycorp) Governor Kathy Hochul Announced Today Albany’s $9.75 Million Special Project Award View Announcement Press Release Led through a partnership between development team Redburn Development […]

$3.25 Million New Construction Multifamily Residential Project Completed at 191 North Pearl Street

October 19, 2022 – 4:07 pm

Investment Transforms Vacant Lot, Boosts Revenue to Local Taxing Jurisdictions, Strengthens Neighborhood Connectivity, and Creates 18 New Apartments View Announcement Press Release Here Local officials and community members today joined developers Ron Stein and Pete Tryon and their development team comprised of BSNB, Franco Construction and C2 Design, in cutting the ribbon on the latest […]

Groundbreaking At 745 Broadway, $22.7 Million Mixed-Use Development Set To Strengthen Neighborhood Connectivity

May 26, 2022 – 2:13 pm

The start of construction was celebrated at 745 Broadway in downtown Thursday. Rosenblum Companies’ new $22+ million mixed-use development will strengthen neighborhood connectivity between downtown, Clinton Square and the warehouse district, while also tripling revenue to local taxing jurisdictions anticipated without the new investment. It was unveiled the building’s name will be Industrie.      […]

Kenmore Ballroom Welcomed To Downtown

September 16, 2021 – 2:51 pm

Read the announcement press release here. An historic event venue, the Rain-Bo Room, is now reimagined. With owners Katie O’Malley Maloney and Nate Maloney, the Kenmore Ballroom was welcomed to downtown Albany today. Recognizing the opening and reimagining of this historic space following Redburn Development’s $36M investment in 76 N. Pearl St., the Kenmore Ballroom […]

$12 Million In Additional Investment to Revitalize 61 N. Pearl St., 66 State St., Bringing 42 More Apartments to Downtown Albany

July 22, 2021 – 4:48 pm

Redburn Development Expands Downtown Living Options Following Success of Its Initial $80 Million Investment   Press release available here   Furthering Impact Downtown Albany plan implementation Redburn Development Partners is moving forward with two additional historic redevelopment projects in downtown Albany at 61 N. Pearl St. and 66 State St. after experiencing strong demand for […]

After Nearly a Decade of Service, Tracy Metzger Retires From City Industrial Development Agency and Capital Resource Corporation Board of Directors

July 22, 2021 – 3:10 pm

More Than $900 Million In Transformational New Investment Assisted During Her Tenure View Press Release  Longtime City of Albany Industrial Development Agency and Capital Resource Corporation (CAIDA/CRC) Board of Directors member Tracy Metzger announced she will step down from her respective posts effective Aug. 19. Metzger, a respected entrepreneur and commercial real estate broker with […]