Good Things are Happening in Albany
Good Things are Happening in Albany
Albany is a city of promise and potential. As the capital of New York State and part of a strong, growing region, it has unique assets—but Downtown has long faced challenges. Fragmented development, public safety concerns, and high commercial vacancies have limited its ability to thrive.
To change this, Governor Hochul launched the Championing Albany’s Potential (CAP) Initiative, a State-led effort backed by a historic $400 million investment to revitalize the downtown core of Albany.
The Downtown Albany Strategy is a key part of this effort: a strategic public process to shape a blueprint for downtown revitalization. The Strategy will focus on tangible, high-impact projects that improve economic vibrancy, housing, public safety, and quality of life—while aligning public programs and unlocking private investment.
Led by Empire State Development (ESD), CAP includes $200 million to plan and implement projects that reinvigorate commercial corridors, grow housing, support small businesses, and transform underutilized properties and public spaces.
It is designed to help diversify Albany’s economic base, attract and retain residents and businesses, and deliver visible results.
Frequently Asked Questions
What is the CAP Initiative and how does it relate to the Downtown Albany Strategy?
Governor Hochul launched the Championing Albany’s Potential (CAP) Initiative—an ambitious, State-led effort to support revitalization and long-term economic growth. A cornerstone of CAP is the Downtown Albany Strategy – a strategic public engagement process to create a blueprint for revitalizing the downtown area.
The CAP Initiative also includes funding to revitalize the NYS Museum, for the next phase of study reimagining 787, for improvements to Empire State Plaza, and for public safety efforts.
What will the Downtown Albany Strategy include?
As a blueprint for long-term impact, the Downtown Albany Strategy will be based on a strategic public engagement process, leveraging the State’s historic investment to:
- Define and deliver catalytic projects and investments
- Align public programs and policies to unlock private investment
- Create an actionable blueprint targeting key areas and sites
The strategy will lead to new reasons to work, visit, and live in downtown Albany.
It will focus on the planning and implementation of projects that reinvigorate commercial corridors, strengthen small businesses, promote housing growth, and revitalize underutilized real estate and open spaces. The Downtown Albany Strategy is designed to jumpstart a more diverse economic base and attract and retain more residents, visitors and businesses.
Albany has had so many “plans” – how is this related?
This isn’t just another plan—it’s a focused strategy backed by real State investment. The Downtown Albany Strategy is designed to move from vision to action by identifying high-impact, community-supported projects and aligning them with funding and implementation partners. It will serve as a blueprint for investment over the next 5–10 years and is directly tied to the State’s broader CAP Initiative. The difference here is momentum, resources, and a clear path to delivery.
We hope you’ll be a part of the process to make it yours!
What do you consider Downtown?
The Strategy focuses on Albany’s downtown core — and addresses connections to nearby neighborhoods, key gateways, and the region. Revitalizing downtown is key to tackling citywide challenges, so the process invites input from all who care about Albany’s future.
How will this affect my business?
If you are a business owner in Downtown, we will be looking for ways to support you through infrastructure, public safety, revitalization, and support initiatives. Your feedback will help shape priorities for improvements to streets, storefronts, public spaces, and more. Please join us at a future Downtown Strategy event to participate and let us know how the project can support you.
Who is involved?
The Downtown Albany Strategy is led by Empire State Development (ESD). ESD has enlisted MIG, a consulting firm with expertise in economic development, real estate, public engagement, and placemaking to support the development of the Downtown Albany Strategy. The MIG team will work closely with community members, businesses, and local leaders in a transparent, inclusive engagement process. Get involved here.
When will it start?
The planning process was announced in May 2025. Stakeholder engagement started in June 2025 and will continue through late Fall 2025, Implementation planning will begin in phases thereafter.
Who will decide how investments are made?
ESD will determine how the State’s historic investment is invested, guided by the strategies and projects detailed in the Downtown Albany Strategy. MIG, as the Downtown Albany consultant, will help develop the Strategy but will not make any decisions about which programs, initiatives or projects receive funding.
ESD will rely on input from the public, downtown business community, government, and many other stakeholders to prioritize areas for investment.
Can I apply for a grant?
The process for selecting projects is still being developed. Some funding may be distributed through competitive applications, RFPs, or partner channels. Any opportunities to apply for portions of the funding will be announced on the project website here: https://esd.ny.gov/cap-initiative
What kinds of projects are you looking for?
We’re looking for high-impact policies, programs and projects that can transform downtown — from adaptive reuse and housing to public spaces, business corridors, and infrastructure. The Strategy will help identify investments which will have the most revitalizing and far-reaching effects.
How can community organizations or institutions participate?
We welcome involvement from community anchor institutions, nonprofits, and cultural groups. Let us know how your organization’s work aligns and how we can partner.
Three (3) rounds of public engagement will be held during the planning process to ensure diverse and broad public participation in the development of the Downtown Albany Strategy. Each round of engagement will align with the three phases of the planning process:
- Phase 1: Growth and Positioning
- Phase 2: Catalytic Project Development
- Phase 3: Implementation and Governance Strategy
How can I stay informed or get involved?
Thank you for asking! Public engagement is vital to the project’s success. We are inviting community members to participate through a variety of events, including meetings, surveys, workshops, and other outreach efforts.
Please sign up for our mailing list. We will keep you informed about the process and post events, as we plan them, here on this site.
