Downtown Albany had an incredible 2018

Downtown Albany had an incredible 2018


As we begin our adventure through 2019, we wanted to take a look back at some of the transformational development milestones, exciting projects, and new residential amenities that made 2018 such a stellar year for downtown Albany and its stakeholders.

Total Development:

  • $30 million* worth of investment came online in 2018,
  • $87 million* is currently under construction, and
  • $220 million* worth of additional investment is in the pipeline or early stages of development.

*Source: Capitalize Albany Corporation

In an effort to bolster that substantial investment, the Downtown Albany BID directly launched and implemented several new projects in 2018:

We're excited to continue this momentum with our strategic partners in 2019. Here's a look at just a few of the larger projects that are set to begin in 2019:

  • $280 million worth of investment slated to be leveraged through the implementation of the $10 million DRI grant
  • $3.1 million construction of the Albany Skyway
  • $1.2 million for construction and reimagining Maiden Lane as a gateway to the riverfront
  • $250,000 for Convention Center District improvements and plan implementation
  • $78 million seven-building Redburn Development commercial and residential conversion project

Thank you to our many partners, stakeholders, and local officials for dedicating your time, energy, and enthusiasm towards making downtown Albany even stronger than it was last year!