Former Knickerbocker News Headquarters Transformed into 132 Apartments and Commercial Space First Phase of Redburn Development Partners' $78 Million Adaptive Reuse Project Around Former Kenmore Hotel on North Pearl Street Governor Andrew M. Cuomo today announced the grand opening of The Knick on Sheridan Avenue in Downtown Albany. The formerly vacant building has been transformed into more than 130 apartments with an occupancy rate approaching 75%. In addition, the building's first floor houses The Yard Hatchet House and Bar, featuring an indoor lawn for games and league quality hatchet cages for axe throwing. "We are making strategic investments statewide to transform our downtown areas into vibrant, walkable places that invite young professionals to live, work and establish roots within their communities," Governor Cuomo said. "The transformation of The Knick serves as a great first step in Redburn Development's Kenmore project that is bringing more people, businesses and excitement to Downtown Albany." Redburn Development Partners has committed to investing at least $78 million in seven prominent downtown Albany properties, creating 350 mixed-income apartments and more than 50,000 square-feet of commercial and retail space. Once completed, the entire project is expected to attract at least 450 new residents to the downtown Albany area. Empire State Development has agreed to provide up to $5 million through a performance based capital grant, including $2 million from the Capital Region's Upstate Revitalization Initiative fund. Read the full press release here.