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| Gov Kathy Hochul FB Page Photo |
Announces Nationally Recognized Planning Firm MIG To Develop Roadmap for $200 Million Downtown Albany Investment
Includes up to $150 Million To Revitalize NYS Museum and Other Cultural Experiences, up to $40 Million To Advance Redevelopment of I-787 and $1.5 Million To Support Local Public Safety Efforts
Governor’s Investment in Capital City Represents Comprehensive Approach by New York State To Revitalize Albany That Addresses City’s Needs and Unlocks its Potential
Governor Kathy Hochul on Wednesday, May 21, celebrated the FY26 Enacted Budget investments in Albany’s downtown by launching the Championing Albany’s Potential (CAP) Initiative, a more than $400 million, collaborative, State-led effort to revitalize Albany’s downtown core. This 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. The CAP initiative also includes up to $150 million 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.
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| Gov Kathy Hochul FB Page Photo |
“Albany is not only our great state’s capital city, it's also a place I call home. This investment isn't just about dollars and cents, it's about jobs, innovation and a brighter future for our community,” Governor Hochul said. “We are building on Albany’s rich legacy of progress and positioning this city as a hub for opportunity in the 21st Century.”
As part of the CAP Initiative, Empire State Development has selected MIG to lead a collaborative planning effort to revitalize the downtown core of Albany. MIG, a nationally recognized planning and economic development firm, will lead a team of experts in urban strategy, public space design, community engagement, and development feasibility. MIG will work with ESD and local stakeholders to develop a roadmap focused on catalytic projects, bundled investments, and a long-term growth strategy for Downtown Albany. The strategy will prioritize projects that are ready to go, supported by the community, and capable of attracting housing, business, and new activity. It will ensure that Albany’s revitalization is not only inclusive, but enduring.
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| Gov Kathy Hochul FB Page Photo |
Engagement will begin with local and neighborhood stakeholder briefings. Broader public engagement will be held throughout the summer, beginning in June, alongside digital tools and direct outreach to ensure broad participation. The public may sign up to receive more information on the CAP Initiative page when it becomes available.
Additionally, in cooperation with Empire State Development, Capitalize Albany will launch a Request for Proposals for the redevelopment of Liberty Park on May 28. The Liberty Park site spans approximately eight acres and represents the single largest development site in downtown Albany. Capitalize Albany is in the process of seeking transformational development opportunities for the site’s revitalization, which will complement the State's $200 million investment in Downtown Albany. For more information visit the official Liberty Park Site Redevelopment website.
The comprehensive approach to the CAP Initiative also includes up to $150 million to transform cultural experiences in and around Albany’s Downtown, such as renovating the New York State Museum and upgrading the exhibits to be more inviting to Albany families and tourists alike. It also includes funding to invest in improvements at the Empire State Plaza to strengthen connections with the surrounding community and make the space a vibrant and inviting part of the fabric of downtown Albany.
Additionally, Governor Hochul has committed up to $40 million to advance plans to reimagine I-787 which would include reconnecting Albany and surrounding communities and enhancing access to the Hudson River waterfront. This summer, the New York State Department of Transportation (NYSDOT) will release a Planning and Environment Linkages (PEL) study on potential ways to reimagine I-787, a travel corridor in the Capital Region that provides high speed access to the City of Albany and other communities along the river, including Green Island, Watervliet and Menands. Building upon the work completed under the PEL study, up to $40 million will be utilized by NYSDOT to begin an Environmental Impact Statement, which will lay the groundwork for a future project along the I-787 corridor. The environmental review will examine ways to enhance waterfront access along the Hudson River for all users of the road, connect neighborhoods and key destinations in communities along the corridor, and address the infrastructure of I-787, the South Mall Expressway, the Dunn Memorial Bridge, and additional infrastructure along the study area.
Governor Hochul previously announced $19.5 million in State investments to improve public safety in Albany, which included a $1 million commitment to the City of Albany Police Department and $500,000 for the Albany County Sheriff’s Office. These investments reflect a record level of State funding for public safety in the City of Albany and Capital Region. These resources are delivered through a series of nation-leading programs supported by the Division of Criminal Justice Services (DCJS), including the Gun Involved Violence Elimination (GIVE) initiative, the Capital Region Crime Analysis Center, the SNUG Street Outreach and Social Work Program and Project RISE (Respond, Invest, Sustain and Empower). Working together, these efforts have helped reduce violence and improve community safety.
Informed by input from local stakeholders and the community, the CAP Initiative will unfold through a comprehensive public engagement process to identify key opportunities to promote business development, bolster public safety, encourage housing, attract visitors and enhance affordability.
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