Real Estate Development

$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 […]

Preparing 100 Acres At The Port of Albany For First U.S. Offshore Wind Manufacturing Facility

May 12, 2023 – 4:06 pm

Incredible progress is taking shape at the Port of Albany’s expansion site — preparing 100 acres for the first offshore wind tower manufacturing facility in the U.S.   The Capitalize Albany team joined Port officials, Albany Mayor Kathy Sheehan and members of the City of Albany’s Neighborhood Community Services team, for a tour of the APDC […]

ACES And Community Loan Fund Break Ground On New ACES Incubator Expansion

April 27, 2023 – 3:22 pm

At 255 Orange Street today, the Community Loan Fund officially broke ground on its Albany Center For Economic Success (ACES) Incubator Expansion Project. This state-of-the-art facility will feature co-working space for eight, a designated training and technical assistance room for clients of the Community Loan Fund, as well as a drop-in daycare center for visitors […]