Empire State Development and Nationally Recognized Firm Leading Strategic Planning Efforts for Downtown Albany's Future
Public Workshops and Local Engagement Vital to Gathering Input and Developing Blueprint for Future Investments
New Website Launched for Program Updates: downtownalbanystrategy.com
Governor Kathy Hochul today kicked off the $400 million Championing Albany's Potential (CAP) Initiative’s first Downtown Albany Strategy public workshop, held at the Albany Capital Center. The workshop welcomed hundreds of participants, including Albany residents and partners from business, academia and government. The CAP initiative includes $200 million in funding to plan and implement projects that reinvigorate commercial corridors, strengthen small businesses, promote housing growth, and revitalize underutilized real estate and open spaces. A new website – downtownalbanystrategy.com — was also unveiled at the public workshop, which will include updates on the Downtown Albany Strategy planning process and dates for future public workshops.
“It’s time to roll up our sleeves and get to work,” Governor Hochul said. “Public engagement is paramount to success. We have the funding, we have the momentum, and now it's up to the public to let their voices be heard. By working together, we will transform Albany into a better, brighter city for residents and visitors to enjoy.”
Empire State Development and MIG, a nationally recognized planning and economic development firm, are leading a collaborative planning effort to revitalize the downtown core of Albany. Today's public workshop represents the latest step in local engagement to develop a roadmap that focuses on a long-term growth strategy with catalytic projects and strategic investments. The Downtown Albany Strategy, which will be developed through collaborative, public engagement, aims to jumpstart a more diverse economic base and attract and retain more residents, visitors, and businesses by focusing on sustainable improvements to Albany’s core downtown and the surrounding area within a mile of the State Capitol.
Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul's leadership, New York State is making a historic investment in Downtown Albany to spur new projects, new energy and new growth. Developing a blueprint that represents many voices will be crucial to these efforts. Through community and stakeholder engagement, we can create a strategy to help guide our collective efforts and encourage new partnerships and private investments that generate sustainable economic development.”
First introduced by Governor Hochul in her 2025 State of the State address, the CAP initiative was enacted as part of the FY26 State Budget. In addition to the $200 million strategic investment, up to $150 million has been allocated to transform cultural experiences in and around Albany’s Downtown such as the State Museum; up to $40 million to advance plans to reconnect communities divided by Interstate 787; and $1.5 million for public safety enhancements.
Public workshops and participation are key to the Downtown Albany Strategy and CAP initiative. More information – including an opportunity to register for updates on the program – can be found at esd.ny.gov/cap-initiative or downtownalbanystrategy.com.