Project Will Reimagine Key City Gateway, Strengthen Neighborhood Connectivity and Create Proving Ground for Pop-Up Businesses, Events and Programming
Governor Kathy Hochul today announced the start of construction on the Clinton Market Collective project that will renovate Federal Park at the corner of Clinton Avenue and Broadway into the Clinton Market Collective. The project, sponsored by Capitalize Albany, is receiving $1.16 million as part of the $10 million Albany Downtown Revitalization Initiative. The $3.56 million project also was recommended for a $750,000 Empire State Development capital grant from the Capital Regional Economic Development Council, a $1.1 million American Rescue Plan Act award from the City of Albany, and a $250,000 grant from National Grid.
"The Clinton Market Collective project is the latest example of how our investments are transforming communities and driving economic development in downtowns across the state," Governor Hochul said. "This Capital Region project will create better business and job opportunities in the area while supporting a more beautiful and vibrant space. Through the Downtown Revitalization Initiative, New York State will continue to deliver the resources communities need to thrive, flourish and reach their full potential."
This innovative reimagining of an underutilized property will result in the creation of a vibrant public space with a new market concept that serves as a proving ground for start-up businesses and hosts diverse pop-up retail, installments by local artists and signature events. The premier location of the market will strengthen a key gateway to the Capital City at the foot of the Skyway that greets more than 20,000 people daily, anchoring Clinton Square's role as both an engaging destination and a welcoming entry to the city's unique local neighborhoods, arts scene and commercial venues.
Secretary of State Robert J. Rodriguez said, "It is exciting to see the ground broken on this innovative Clinton Market Collaborative project which holds tremendous economic promise for the residents of Albany and the surrounding Capital District. The Clinton Market Collective is a catalyst that will spur the resurgence of Clinton Square by serving as a unique place for new businesses to grow, community members to gather and visitors to be welcomed into the city. Beautiful and vibrant public spaces are integral to downtown revitalization, and I am proud that the Department of State is able to support vital projects such as this one through our Downtown Revitalization Initiative."
The creation of the Clinton Market Collective will expand Clinton Square's significant strengths and opportunities that will be leveraged through the Downtown Revitalization Initiative (DRI) investment. It is a primary gateway to the Capital City, serving as the front door to Albany for tens of thousands of New Yorkers and out-of-state visitors, including thousands of people who come to work here every day and the residents who call Clinton Square home. This area has a rich historic heritage represented by diverse architectural styles and landmarks, like Albany Union Station and Quackenbush House.
Clinton Market is set to complement the adjacent Skyway, the Capital Region's first and only elevated linear park - a project that was similarly designed under management of the City of Albany's economic development organization, Capitalize Albany, with funding assistance under a Regional Councils Initiative grant award.
While construction is underway, Capitalize Albany is stepping into a vital fundraising stage to support bringing additional key site amenities to the space which are needed to activate the market concept. The Corporation has packaged several highly visible corporate sponsorship opportunities to support the project's semi-permanent vendor space in specialized shipping containers, a performance stage, outdoor seating and more.
The Clinton Market site is bordered by Clinton Avenue on the south, Broadway on the east, North Pearl Street on the west and the Leo W. O'Brien Federal building on the north.
The City of Albany was named the Capital Region winner of Round 3 of the Downtown Revitalization Initiative. Albany's DRI plan is focused on revitalizing Clinton Square to create a welcoming gateway into the Capital City. This compact and walkable area, rich in history, arts and cultural assets, is where five city investment zones converge. The City envisions revitalizing Clinton Square directly while providing infill investments, corridor enhancements and targeted housing revitalization projects. With DRI investment, residents, visitors and the workforce will enjoy new links to the Hudson River.
Clinton Square is poised to be a thriving gateway district and a distinctive hub that connects and catalyzes activity in Downtown and the Warehouse District and draws this momentum into the Arbor Hill and Sheridan Hollow neighborhoods through public infrastructure enhancements, private project development and vibrant arts and entertainment investments.
Empire State Development President, CEO, and Commissioner Hope Knight said, "The Clinton Market Collective project is just the latest example of how the Downtown Revitalization Initiative continues to breathe new life into city centers, through strategic investments in projects that create vibrancy, opportunity and engagement. ESD is proud to join the Department of State and other partners in supporting a public space that will further energize downtown Albany as a home for art, retail and startup innovation."