Comprehensive Community-Informed Action Plan Addresses Housing Growth, Job Creation, Strengthening Small Businesses, and Reinvigorating Downtown’s Commercial Corridors and Public Realm
Downtown Albany Strategy Available Here
Governor Kathy Hochul today unveiled the Downtown Albany Strategy, a comprehensive, community-informed revitalization plan that is part of the $400 million Championing Albany’s Potential (CAP) Initiative. The strategy is backed by $200 million in public investments from New York State to guide coordinated action that will spur housing growth to attract new residents, create jobs, promote long-term redevelopment, enliven commercial corridors, and energize the public realm. Developed with input from thousands of residents, workers, students, business owners, and community leaders, the Downtown Albany Strategy reflects extensive public engagement through workshops, stakeholder meetings, and focus groups and represents a vision for new economic growth guided by community priorities.
“Downtown Albany has been a historic hub for more than 400 years, and I am committed to renewing its prominence not only to the region, but across our state and nation. This strategy will deliver transformational change and unlock its full potential,” Governor Hochul said. “Through high-impact investments, strong partnerships, and clear growth targets, we are building a revitalized downtown worthy of the Empire State’s capital city for residents, workers, and visitors alike.”
Empire State Development President, CEO, and Commissioner Hope Knight said, “This strategy is not a list of projects, but reflects what is possible when we combine community voices with smart, targeted investments. By focusing on housing, jobs, and quality of life, we are laying the foundation for sustained growth and renewed confidence in Downtown Albany.”