Historic properties being renovated through state grant funds | Downtown Albany

Historic properties being renovated through state grant funds

Historic properties being renovated through state grant funds

Three properties in downtown Albany are currently undergoing renovations for what will soon become new retail and residential units available in Downtown.

Located at 46 State Street, 402 Broadway and 414 Broadway, these historic buildings received funds through the New York State Main Street grant program, offered by the Office of Community Renewal and administered by the Downtown Albany BID. The New York Main Street Grant provides financial resources and technical assistance to communities to strengthen the economic vitality of the State's traditional Main Streets and neighborhoods. Main Street grants are revitalizing New York State’s downtowns through targeted commercial/residential improvements such as façade renovations, interior commercial and residential building upgrades, and streetscape enhancements. The program stimulates reinvestment in properties located within mixed-use commercial districts and adjacent neighborhoods with the goal of establishing sustainable downtown and neighborhood revitalizations.

The rehabilitation projects are slated to be completed by the first semester of 2018, adding to the dramatic transformation underway in Downtown.

Downtown Albany has realized more than 200 residential units in the last couple of years and is experiencing a growing demand for new retailers, restaurants and other commercial developments. The Downtown Albany BID is excited with the opportunity to continue to promote Downtown’s commercial development and residential living.