Real Estate Development

$1.9 Million Investment To Construct 12 New Market-Rate Residential Apartments In Albany

October 23, 2024 – 10:22 am

Project Will Create At Least 50 Jobs, Bring Newly Constructed Apartment Building To Currently Tax-Exempt Land Parcels View Press Release A $1.9 million investment will bring a new construction 12-unit market-rate apartment building to two currently tax-exempt land parcels located at 1233-1235 Broadway in North Albany. The project will bring the land on to tax-rolls, […]

$22 Million Station 25 Affordable Housing Development Completed On Delaware Avenue  

September 17, 2024 – 3:47 pm

Announced by Governor Kathy Hochul, the $22.2 million five-story Station 25 affordable housing development — which involved repurposing a former fire alarm station at 25 Delaware Ave. is now complete. A ribbon cutting celebration was held with developer Conifer Realty.                 View this post on Instagram     […]

Viva Empanadas Opens In Downtown Albany, Expands Into Downtown Albany Restaurant Landscape

August 27, 2024 – 12:08 pm

Newest Restaurant With focus On Authentic Latin Cuisine Takes Part In Downtown Revitalization View Announcement Press Release   View this post on Instagram A post shared by Capitalize Albany Corporation (@capalbanycorp) The no-longer vacant storefront at the corner of North Pearl Street and Sheridan Avenue located at 90 North Pearl Street is now home to […]

$30.6 Million Investment To Construct Colvin Avenue Mixed-Income Affordable Housing Development That Will Feature Supportive Services And A Child Daycare Facility

August 22, 2024 – 11:43 am

View Announcement Press Release   A $30.6 million investment is set to bring a 63-unit affordable housing development supporting households that have a range of mixed-incomes to 60 Colvin Avenue in Albany. The project will generate additional revenue to local taxing jurisdictions and is estimated to create at least 12 permanent and 60 construction jobs. […]

Key City Gateway Reimagined In Downtown Albany With Completion Of Clinton Market Collective Construction

August 1, 2024 – 12:21 pm

Learn More About Clinton Market Collective Here View The Announcement Press Release Here     Capitalize Albany Corporation and Clinton Market Collective project partners recognized the reimagined destination’s completion of construction today marking the grand opening of Clinton Market Collective.   The site is bordered by Clinton Avenue on the south, Broadway on the east, North […]

Local Support For 2024 CFA Process: REDC Round XIV

May 17, 2024 – 10:58 am

Governor Kathy Hochul has announced the opening of the Round XIV Regional Economic Development Council Initiative and Consolidated Funding Application (CFA) process. The application portal is now open and Capitalize Albany staff is available to assist applicants located within the City of Albany. Corporation staff will coordinate requests for letters of support from the Mayor and resolutions […]

New High School To Expand KIPP Capital Region Public Charter Schools Network In The City Of Albany

May 16, 2024 – 11:40 am

View Press Release  With support from the City of Albany Capital Resource Corporation (CRC), financing made possible with the issuance of tax-exempt bonds will support KIPP Capital Region Public Charter Schools (KIPP) — allowing the charter school network to invest in the design and construction of a new more than $50 million, three-story, 98,000 sq. […]

Completion Of $15 Million 60-Unit Gallery On Holland Apartments To Strengthen Neighborhood Connectivity

May 14, 2024 – 10:10 am

Local officials and community members today joined Richbell Capital in cutting the ribbon on the latest completed multifamily residential project in the City of Albany. The Gallery on Holland is a $15 million, more than 60,000 sq. ft. 60-unit new construction market-rate multi-family apartment development located at 25 Holland Ave. near the intersection of Delaware […]

With Latest Round, In Total More Than 60 Albany Businesses and Nonprofits Have Received Small Business Facade Improvement Program Matching Grant Awards To Reinvest And Grow

May 3, 2024 – 11:55 am

Program Has Leveraged More than $650,000 In Private Investment As part of the City of Albany’s Small Business Façade Improvement Program’s sixth-round which closed in December, 15 Albany small businesses and nonprofits received matching grant awards totaling more than $130,000 this month. Already, since its inaugural round the program has supported more than 50 businesses’ […]

$46.3 Million Investment To Construct Affordable Housing Development That Will Support Veterans And Seniors At Risk Of Homelessness

April 18, 2024 – 12:13 pm

Project Will Create At Least 100 Construction Jobs, Bring 120 Additional Units of Affordable Housing Online In Albany View Announcement Press Release A $46.3 million investment is set to bring a 120-unit affordable housing development supporting seniors and veterans to 64 Colvin Avenue in Albany. The project will generate additional revenue to the local taxing […]