Real Estate Development

$2 Million Investment Brings 13 New Market-Rate Apartments To North Albany

April 3, 2026 – 2:33 pm

View Announcement Press Release    Capitalize Albany, local officials and community members joined Guido Development Group to celebrate the ribbon cutting of its recently completed multifamily project in the City of Albany. Located at 33 Center Street, the newly constructed three-story building is home to 13 market-rate apartments and was built on two formerly tax-exempt […]

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 […]

Refinancing of Tax-Exempt and Taxable Bonds Through City of Albany Capital Resource Corporation to Support Avila Retirement Community Improvements and Long-Term Sustainability

February 25, 2026 – 3:57 pm

View Announcement Press Release    Financing made possible with the issuance of up to $30 million in tax-exempt and taxable bonds will support the Avila Retirement Community, allowing for the refinancing of existing debt and funding of capital improvements to the retirement community’s independent living campus located at 100 White Pine Drive in Albany.   […]

Albany Center Gallery Opens New and Expanded North Pearl Street Location

January 21, 2026 – 3:25 pm

Community residents gathered at 48 North Pearl Street to tour Albany Center Gallery’s new and expanded home and experience the 21st Annual Members’ Show on Jan. 16. Complementing its grand opening, the show is the inaugural exhibition in the new location featuring work from 276 ACG artists and members.             […]

#AlbanyIsAllBiz | Hot Crispy Oil Relocates and Expands in Albany

October 29, 2025 – 4:05 pm

Hot Crispy Oil, the Albany-based specialty condiment company that captured the taste buds of food enthusiasts nationwide, is embarking on a new chapter. The company, founded in 2020 by John Trimble, recently relocated its operations to a larger facility at 24 Thatcher Street in Albany, marking a significant step forward in its plans for growth. […]

Downtown Albany Expands Culinary Landscape With Japanese-Italian Fusion Restaurant, Itameshi Is Now Open

October 7, 2025 – 4:19 pm

  A new restaurant is bringing Japanese-Italian fusion cuisine to downtown Albany. Itameshi is located at 745 Broadway on the ground-floor of Industrie Apartments, which was developed by The Rosenblum Companies. Itameshi officially opened Tuesday.              View this post on Instagram                   […]

$97.3 Million Investment To Reshape South End Neighborhood Developing 166 Multifamily Affordable Housing Units On 64 Vacant Parcels

September 18, 2025 – 3:25 pm

View Announcement Press Release  Project Will Create At Least 100 Construction Jobs, Bring 62 Newly Constructed buildings To Currently Tax-Exempt Properties A $97.3 million investment will bring 64 vacant and underutilized land parcels back on to taxable rolls with the new construction of 62 new buildings containing a total of 166 affordable housing units. Made […]

Albany Heat Pump Supplier Takes Space in Former Freihofer Baking Co. Building Ahead of Statewide Shift to All-Electric Construction

September 16, 2025 – 4:56 pm

View Announcement Press Release  Lucent Building Supply’s new showroom advances the $6.5M transformation of 242 Spruce St. — infusing the Former Freihofer site in the Sheridan Hollow Neighborhood with New commercial energy New investment continues the transformation of the formerly vacant and blighted Freihofer Baking Co. building at 242 Spruce Street in Albany’s Sheridan Hollow […]

New Downtown Location To Support Albany Center Gallery Expansion

August 5, 2025 – 3:24 pm

Albany Center Gallery, a nonprofit art space and gallery showcasing local and regional artists for nearly half a century, announced today a key move from its location in the Arcade Building to a larger downtown Albany building. The new venue will accommodate and enhance ACG’s rapidly growing programs, staff, projects, and initiatives. The new location, […]