Downtown Residential

$7.4 Million Investment Will Convert Underutilized Parking Adding 37 Multifamily Housing Units At The Kennedy Apartments In Downtown Albany  

May 20, 2026 – 12:11 pm

View Announcement Press Release    $7.38 million will be invested into Redburn Development Partners’ The Kennedy at 45 Columbia Street in downtown to convert underutilized parking areas in the existing mixed-use building into 37 additional apartments. The project will create at least 50 construction jobs and increase the building’s  total multifamily housing units to 59 […]

Coordinated Downtown Projects to Add 120 Multifamily Housing Units and Deliver Premier Class A Office Space at 30 South Pearl Street

May 20, 2026 – 11:50 am

$42.5 Million in New Investment to Support Reactivation of 200,000 square feet of vacant office space through residential reuse and office tenancy   View Announcement Press Release    A $16 million investment by Jankow Companies made possible with City of Albany Industrial Development Agency (IDA) assistance will support a large-scale effort and renovation of 30 […]

More Than 200 Multifamily Apartments Advance Toward Construction In Albany Housing Pipeline 

April 16, 2026 – 4:04 pm

View Announcement Press Release    An $18.6 million project that will renew the site of Albany’s historic Union Station into a mixed-use multifamily residential development, a $4.8 million project to revitalize and convert the vacant building at 135 Ontario Street into a three-story multifamily residential development, and a $26.5 million project which would convert the […]

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.      […]