Real Estate Development

Refinancing of Tax-Exempt Bonds Through City Of Albany Capital Resource Corporation To Support Albany College of Pharmacy And Health Sciences

October 20, 2022 – 9:51 am

View Announcement Press Release The refinancing of the Albany College of Pharmacy and Health Sciences’ (ACPHS) previously issued 2007A and 2008A tax-exempt bonds will in part support the institution in taking ownership of student housing facilities which were projects supported by the initial bonds issued. This will create administrative efficiencies and support savings, allowing ACPHS […]

$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 […]

Clinton Market Collective Construction Bid Opportunity: Information For Contractors And Trade Experts

September 20, 2022 – 1:43 pm

Update 9/29/22: Interested bidders, please click here to review Addendum #1 and note the below due date has been updated. Capitalize Albany Corporation is now seeking bids for construction of its Clinton Market Collective project. TW&A Construction Management, a New York State Women-Owned Business (WBE) is serving as the construction manager for the project. Construction […]

$8.9 Million Investment To Transform Vacant 44,000 Square-Foot Office Building To Mixed-Use Multifamily Residential

June 16, 2022 – 4:04 pm

Redevelopment of underutilized office building neighboring downtown, into market-rate apartments and commercial retail space View Press Release A mixed-use development project located at the corner of Swan and State streets, 90 South Swan Street, will convert and activate vacant office space, create 61 multifamily apartment units, bring new revenue to local taxing jurisdictions, support at […]

Update: 2022 REDC Round XII CFA Process

May 27, 2022 – 11:45 am

Earlier in May Governor Kathy Hochul announced the opening of the Regional Economic Development Councils Round XII 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 from […]

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.      […]

Iconic Warehouse At Huck Finn Has A New Name, Commercial Tenants Announced As Part Of $65 Million+ Transformational Warehouse District Redburn Development Project

May 25, 2022 – 2:37 pm

Following completion of its more than $80 million in new downtown investment, Redburn Development Partners is progressing its historic renovations as part of more than $80 million of investment in Albany’s warehouse district. Work is underway at its $17.9 million 413 North Pearl Street major mixed-use redevelopment and $65 million transformation of local landmark, The […]

$4.9 Million Investment To Transform Vacant Lark Street Property And Construct New Multi-Family Residential Apartments

May 19, 2022 – 2:07 pm

New Construction Of 40-Unit Workforce Housing Market-Rate Apartment Complex To Create At Least 165 Construction Jobs And Bring $1.2 Million Additional Revenue To Local Taxing Jurisdictions View Announcement Press Release A new construction multi-family residential project located at 16-20 Morris Street and 353 Lark Street will transform the vacant and largely tax-exempt site, bring new […]

Capitalize Albany Launches Neighborhood Retail Grant Program and More Than $300,000 to Support Retail, Business Growth In Albany

January 12, 2022 – 12:33 pm

Four Programs In 2022 Aimed at Attracting Retail Tenants, Reinvestment and Façade Rehabilitation, Driving Foot Traffic to Commercial Districts Announcement’s Press Release Available, Here Informational PDF Flier Available Below and Here The City of Albany’s economic development organization Capitalize Albany Corporation announced today the launch of its grant programs available for 2022 including a new […]

$65 Million Investment To Transform Iconic Albany Warehouse, Development of Distinctive Mixed-Use Project

December 16, 2021 – 2:13 pm

Redburn Development Will Renovate The Historic Huck Finn’s, Creating 260 Market-Rate Apartments With Indoor & Outdoor Amenities, 48,000 Square Feet Of Commercial Space Announcement’s press release, here Redburn Development Partners is moving forward with a project that will further strengthen the City’s growing warehouse district, transforming a downtown landmark – The Warehouse at Huck Finn […]