Real Estate Development

$80 Million Investment To Renew Site Of Vacant Red Carpet Inn Into Affordable Housing Development

January 18, 2024 – 9:50 am

Northgate Landing development to create 200 construction jobs, bring 185 additional units of quality affordable housing to Albany Press Release   Replacing the underutilized and vacant Red Carpet Inn, an $80.9 million investment will bring a 185-unit affordable housing development to 500 Northern Boulevard nearby the northern edge of Arbor Hill and surrounding neighborhoods. The […]

Building For Tomorrow 2023

November 30, 2023 – 2:39 pm

RSVP | Building For Tomorrow 2023 Capitalize Albany has an ambitious agenda ahead for 2024 with unprecedented opportunities on the horizon for Albany and the Capital Region. An annual event, Building For Tomorrow will be hosted this year at the Albany Black Chamber of Commerce & Social Club.  Enjoy networking, refreshments, an exciting panel discussion, […]

$4.3 Million Investment to Transform Vacant Office Building into Newly Renovated Multifamily Apartments

November 16, 2023 – 11:45 am

Announcement Press Release 28,000 Sq. Ft. Commercial Office Building to be Converted into Multifamily Apartment Units Supporting More Than 40 Construction Jobs A 28,000 sq. ft. commercial office building will be converted into 25 market rate apartments at 102 Hackett Boulevard between Marwill Street and St. James Place. In 2021, the building became partially vacant […]

The 110-Room Hyatt Place Hotel Opens In Downtown Albany  

November 14, 2023 – 2:09 pm

More than $40 million Investment Transformed Former Brownfield Site As Part Of Quackenbush Square Development               View this post on Instagram                         A post shared by Capitalize Albany Corporation (@capalbanycorp) A new 110-room Hyatt Place Hotel now stands […]

Former Freihofer Baking Co. Building Transformed Into New Market-Rate Apartments

October 27, 2023 – 4:33 pm

$6.5 million rehabilitation project Revitalized 242 Spruce St. Into 38 Market-Rate Apartments The transformation of the  vacant and blighted former Freihofer Baking Co. building at 242 Spruce St. was celebrated today in Albany’s Sheridan Hollow neighborhood.             View this post on Instagram                 […]

$6.5 Million Investment To Redevelop Vacant Center Square Building Into Multifamily Residential

September 21, 2023 – 10:22 am

Converting 40,000 sq. ft. former College of Saint Rose building into market-rate apartments View Announcement Press Release Jankow Companies will soon begin construction on its newest multifamily residential apartments project in Albany, it will be converting 324 State Street into 29 market-rate apartments. This $6.5 million investment will bring the property back on to tax […]

New $3.5 Million Renaissance Albany Renovation Project Will Strengthen Hotel Operations

September 21, 2023 – 9:45 am

Investment Will Support Retention of 91 Jobs and Bring Improvements to Public Spaces, Guest Rooms View Announcement Press Release A new $3.5 million investment into downtown’s Renaissance Albany will bring needed improvements to the 203 room, 180,000 sq. ft. Renaissance by Marriot hotel’s public spaces and rooms. The  planned renovation will allow the hotel to […]

$8.1 Million Investment To Convert and Expand Vacant Downtown Office Building Into Mixed-Use Multifamily Residential

August 1, 2023 – 9:15 am

View Press Release Jankow Companies will soon begin construction on its first downtown Albany multifamily residential project. Two additional floors will be added to the vacant 21,000 sq. ft. three-story office building located at 48 North Pearl St. transforming the property into five stories featuring 20 apartment units and 14,000 sq. ft. of retail space. […]

New Warehouse District Headquarters Opens For Albany Running Exchange, ARE Event Productions

July 19, 2023 – 12:29 pm

Today, ARE Event Productions and its Albany Running Exchange held a ribbon cutting ceremony including a “Break The Tape 5K Run,” celebrating its new headquarters location at 1028 Broadway in Albany’s warehouse district. ARE’s move to its new headquarters comes following an extensive $1 million renovation made possible through the City of Albany’s American Rescue […]

Update: Local CFA Webinar, Workshops | REDC Initiative Round XIII CFA Process 

June 1, 2023 – 9:38 am

Join Empire State Development and Capitalize Albany Corporation for an upcoming CFA Workshop to learn more about available resources and the application process. Please register at the links below: June 6, 2023 at 2:00PM (virtual) June 20, 2023 at 2:00PM at Albany Public Library, Arbor Hill/West Hill Branch – Large Meeting Room June 22, 2023 […]