THE LOCH AND QUAY at 414 Broadway This new Broadway restaurant will be located at 414 Broadway across from SUNY Plaza, a building once known as the Plaza Grill and later as Franklin Tower. The Downtown Albany Retail Grant Program is supporting needed renovations. When work is finished 1,500 sq. ft. of space on its ground floor will be home to a new bar and restaurant. It will focus on diverse lunch menus, light-fare, craft beers, wines, specialty cocktails and coffee. Building renovations will also include three apartments on the upper floors, with the combined investment totaling nearly $1.4 million. ALBANY DISTILLING COMPANY Albany Distilling expanded into a new facility at 75 Livingston Avenue as part of a $1 million investment by the company. Made possible by a $60,000 Empire State Development grant and support from the Downtown Albany Retail Grant Program—75 Livingston Avenue includes a new outdoor patio, retail store and tasting room with a full bar featuring New York-made spirits, cider, wine, and beer. THE PORT OF ALBANY In 2017, the Port began two key construction projects that are a part of a three year, $40-$50 million overall maritime heavy lift and project cargo capacity improvement program. These projects will increase marine commerce activity, specifically supporting Upstate NY manufacturers exporting regionally made goods to customers around the world.
85 DANA AVENUE Made possible with assistance provided by the City of Albany Industrial Development Agency and a loan as part of Capitalize Albany’s Real Estate Loan Program—a 30 market-rate unit, 40,000 sq. ft. apartment building will rise between New Scotland Avenue and Knox Street. This $5.1 million new construction project marks a significant Park South Urban Renewal Plan implementation milestone as redevelopment will spread beyond blocks east of where Albany Medical Center and Tri-City Rentals collaborated on 268 new market-rate apartments on Morris Street and Dana Avenue. 800-804 Broadway A complete rehabilitation of the four historic properties, this $2 million project will transform the properties into 15 one and two-bedroom apartments—serving as a catalyst for the ongoing revitalization of the nearby Arbor Hill neighborhood. The Taverna at 40-48 South Pearl Street Maddalone & Associates invested $2.5 million to transform this 24,000 sq. ft. property, mostly vacant since 2011, into 16 luxury market-rate apartments combined with street level retail and commercial space. Its residential space is now fully occupied and its first retail tenant, The Taverna, will open soon. Utilizing approximately 600 sq. ft. of the ground floor, The Taverna will be an authentic Greek style restaurant. The Downtown Retail Grant program, made possible by the City of Albany Capital Resource Corporation, supported space fit up.
AMPLIFY ALBANY GRANT PROGRAM Capitalize Albany’s Amplify Albany Grant Program provides resources for the implementation of exciting activities and events that leverage the City of Albany’s most unique and strongest assets. The program, made possible with funding from the City of Albany Capital Resource Corporation, is enhancing the City of Albany’s commercial districts and businesses by providing grant funding to non-profits, businesses and other organizations that are creating and executing authentic, unique and buzz-worthy promotional programming. $42,000 has been invested into programming to date. 760 Broadway A $16.5 million investment, Fairbank Properties will construct a 5-story 130,000 sq. ft. market rate apartment building on the 1.4-acre parking lot at 766 Broadway. The building will be comprised of 100 rental units with up to 110 interior garage parking spaces on the ground floor. Fort ORANGE GENERAL STORE A popular and wide-ranging softgoods retail business that closed its doors in early June 2016 reopened under new ownership at a new location, 412 Broadway, across from the SUNY Administration building. Renovations and fit up for the Store total $100,000 and were supported in part by the Downtown Albany Retail Grant Program—made possible by the City of Albany Capital Resource Corporation and Capitalize Albany Corporation.
Published on Nov 14, 2017
Published on Nov 14, 2017
A catalyst for economic growth, Capitalize Albany Corporation facilitates transformational development projects, serving as the City of Alba...