Real Estate Development

$56 Million Historic Clinton Avenue Apartments Renovation Completed In Arbor Hill Neighborhood

June 3, 2021 – 2:34 pm

70 Row Houses Now Offer 210 Energy-Efficient, Affordable and Supportive Homes for Families  Full Press Release Available Here Announced by Governor Andrew Cuomo, today marked the completion of Home Leasing’s $56 million rehabilitation of 70 distressed row houses along historic Clinton Avenue and Ten Broeck Street in Albany. The Clinton Avenue Historic Apartments now offers […]

REDC Round XI CFA Process Update

June 1, 2021 – 1:25 pm

Governor Cuomo’s transformative Regional Economic Development Councils Round XI consolidated funding application (CFA) process is underway and Capitalize Albany staff is available to assist local applicants, continuing its role as the local clearinghouse for project proposals located within the City of Albany. The 2021 funding round includes more than $750 million in state economic development resources.  Capitalize Albany staff will coordinate letters of support from […]

Webinar On June 2: REDC Round XI CFA Process

May 25, 2021 – 5:14 pm

On June 2 at 10 a.m. The New York State Economic Development Council and Empire State Development will be hosting an online webinar for an overview of the CFA application process including how to access the Consolidated Funding Application, new changes to the award timeline, and information for how to connect with appropriate Regional Councils […]

#DowntownWorks For Picotte Cos.

May 24, 2021 – 12:28 pm

For evidence of Picotte Cos.’ faith in the resiliency and staying power of Albany, look no further than 111 Washington Ave., located at the edge of downtown and just steps from the heart of the city’s urban core. The company, which is one of the largest owners of private office buildings in the region, invested […]

United Way Is Bringing Coworking To Downtown Albany At The Blake Annex Supporting Nonprofit Community

May 8, 2021 – 2:45 pm

Downtown is welcoming a new coworking space designed specifically to meet the needs of the area’s burgeoning nonprofit community. The United Way of the Greater Capital Region’s Blake Annex is housed in 24,000 square feet on two floors in the former Steuben Club and Kenmore Hotel at 76 N. Pearl St. – landmark historic buildings […]

$17.9 Million Investment To Transform 413 North Pearl St., Bringing 80 Apartments To Albany Warehouse District

March 18, 2021 – 2:01 pm

Following the Success of Its $80 Million Downtown Investment, Redburn Development Focuses on Next Major Development View the announcement’s press release here Redburn Development Partners is moving forward with an historic redevelopment project at 413-25 North Pearl St. after experiencing strong demand for nearly 300 recently completed apartments as part of its $80 million investment […]

Revitalization of 1.62-Acre Midtown Western Avenue Site To Bring New Energy And Opportunities To Pine Hills Neighborhood

March 18, 2021 – 2:00 pm

$27.3 million investment to create 97 apartment units, generate a $33.6 million economic impact and boost revenue to local taxing jurisdictions View the announcement’s press release here Complementing investment surrounding the University at Albany’s downtown campus and supporting new mixed-use development opportunities, a $27.3 million investment into a 1.62-acre site located at the intersection of […]

Downtown Albany Welcomes More Flexible Workspace As Novel Coworking Opens

March 4, 2021 – 6:55 pm

A ribbon cutting ceremony was held Thursday to officially welcome Novel Coworking to downtown Albany. Recognizing downtown Albany as an investment opportunity Novel Coworking purchased the 17-story building located at 69 State Street on the corner of North Pearl and State Streets in early 2020. The coworking space opened early last month following renovation of […]

#BuildingAlb2020: How 2020 Will Help Shape A Brighter 2021

December 11, 2020 – 12:24 pm

The end of the year is traditionally a time both for reflection and planning for the future. This year, which brought both unprecedented challenges and unexpected opportunities, this exercise is more important than ever.    At Capitalize Albany, we are taking inventory of 2020 while looking ahead with excitement to what 2021 will bring. In spite […]

#BuildingAlb2020: Looking Ahead To 2021 With Redburn Development Vice President Elizabeth Young JoJo

December 10, 2020 – 9:55 am

There is so much opportunity on the horizon — an unprecedented level of investment is nearing completion in downtown. The largest project of its kind since the inception of the Downtown Albany Residential Development Initiative in 2002 — Redburn Development is investing more than $80 million into several prominent downtown Albany buildings, creating nearly 300 mixed-income […]