Real Estate Development

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 […]

$10.5 Million Investment To Bring Nearly 100,000 Sq. Ft. Of Additional New Warehouse Space Online In Albany

April 18, 2024 – 11:47 am

Flexible Distribution Warehouse Facility To Be Constructed On Final Corporate Circle Industrial Park Vacant Lot Supporting At Least 48 Construction Jobs View Announcement Press Release  A 93,000 sq. ft. warehouse/distribution facility will be constructed at 48 Corporate Circle on the last vacant lot within the industrial park. The flexible distribution facility’s design will allow it […]

RFP: Commercial Brokerage Services

April 17, 2024 – 4:05 pm

Capitalize Albany Corporation is seeking proposals from licensed commercial real estate brokerage firms to establish a contract for Commercial Real Estate Brokerage Services for an initial period of one year which the term of may be extended by the Corporation. The successful respondent will be retained to represent the Corporation in the marketing and sale […]

$15 Million 36 Hackett Boulevard New Construction Multifamily Apartments Completed Strengthening Neighborhood Connectivity, Walkability

April 11, 2024 – 2:34 pm

View Announcement Press Release Construction Of 42 Unit Market-Rate Apartment Complex To Generate $1.4 Million Additional Revenue To Local Taxing Jurisdictions             View this post on Instagram                         A post shared by Capitalize Albany Corporation (@capalbanycorp) Local officials and […]

$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, […]