Empire State Development has selected a company to direct economic revitalization in downtown Albany as part of New York State $ 400 million investment in the capital.
During an event held Wednesday in Albany, Governor Kathy Hochul launched the Albany Potential Champion Initiative (CAP). Expenditure includes $ 200 million to invigorate the city center spaces and cultivate housing; Up to $ 150 million to improve cultural attractions, including the State Museum; Up to 40 million dollars to reconnect communities to interstate 787; and $ 1.5 million for public security improvements.
As part of the CAP initiative, the MIG economic planning and development company will develop a roadmap and hierarchy projects in the city center.
“We will bring back the districts of the city center, desolate blocks, life.
Community engagement and briefings of the stakeholders in the neighborhood will start the next Moonth and will be held throughout the summer, said Hochul. You can receive additional information on those available here.
Hochul also announced Wednesday that on May 28, Empire State Development and Capitalize Albany would launch a request for proposals to redevelop Park liberty of eight acres Site, describes as the largest development site in downtown Albany.