Unlocking Albany's Potential Through Revitalization

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.

Empire State Development President, CEO and Commissioner Hope Knight said, “Since Governor Hochul first proposed the Championing Albany's Potential initiative in her State of the State, ESD has been working to establish the foundation upon which this historic investment in our Capital City will build. Working together, we will utilize this generational funding to support transformational projects that reflect the needs of those who live, work and visit the city, and encourage even more people to experience and explore Downtown Albany.”

New York State Office of General Services Commissioner Jeanette Moy said, “The historic investment Governor Hochul is making through the Championing Albany’s Potential initiative will help revitalize our capital city. It will also strengthen the ties between state government and our neighbors living and working in the communities surrounding the Capitol and Empire State Plaza. CAP is a sustainable plan for long-term growth that will spur public-private partnerships, build a thriving city center, and create a vibrant downtown for residents and visitors alike.”

New York State Homes & Community Renewal Commissioner RuthAnne Visnauskas said, “Albany deserves a downtown that is a place people want to visit, live, work, connect, and celebrate. It's a place rich with history that has been wounded by planning decisions that negatively impacted entire neighborhoods. This $400 million investment will directly boost the city's potential as an attractive destination by unwinding past mistakes and disinvestment. We've made strides recently in Governor Hochul's administration, investing in upgrading affordable housing and reclaiming vacant land and buildings for development. Now, through CAP, there's real momentum to rebuild, replan holistically with community involvement and revive our beautiful Capital City for those who live and work here now and for those who will enjoy its future.”

New York State Department of Transportation Commissioner Marie Therese Dominguez said, “The Hudson River is one of the Capital Region’s greatest natural assets, and over the past few years the Department of Transportation has made key investments to reconnect residents and visitors with the waterfront, including projects like the Albany Skyway – a linear park; building the Empire State Trail and today, the Livingston Avenue Rail Bridge, which is currently in construction. The I-787 corridor is a vital piece in reimagining the City of Albany and its waterfront, which is why the Governor’s investment in the next stage of this project is so important. For a number of years now, the project team at NYSDOT has engaged with communities all along the Hudson River to gather ideas and feedback and most importantly, listen to local residents – the people who work and live here, on the future of this corridor. The funding for the next stage of this project – an Environmental Impact Statement – was included in this year’s budget and brings us one step closer to advancing from the ideation stage to the preliminary design and eventual construction phase, as we work to study the real potential this corridor offers for travel, recreation and tourism as well as economic growth throughout the Capital Region.”

New York State Division of Criminal Justice Services Commissioner Rossana Rosado said, “Through Governor Hochul’s unparalleled leadership on public safety, cities across New York State are receiving record resources to ensure safer and stronger communities. These investments and initiatives – spanning evidence-based policing strategies, crime analysis center support, community violence interventions, and neighborhood empowerment programs – help keep New Yorkers safe, ensure a fair and effective justice system, and build opportunities for young people and families. Here in the Capital Region, DCJS is proud to support dozens of our law enforcement and community-based partners as they continue to drive down gun violence and crime.”

State Senator Patricia Fahy said. "I’m incredibly proud that the core of our Capital Region and the 46th District, downtown Albany, will receive $400 million in transformative, once-in-a-generation funding. For years, I've engaged with our community to chart a new path forward for Albany that includes Reimagining I-787, making the State Museum a 21st Century destination-location, expanding the core of our Capital Region: downtown Albany, and so much more. That's why I'm so proud this year's budget includes $200 million for downtown revitalization, $150 million for upgrading the New York State Museum, $40 million for the next phase of the reimagining I-787 study, and $1 million for addressing public safety in our neighborhoods. Now, the hard work begins in earnest. I look forward to engaging our community, stakeholders, and residents as we move forward with this funding. Make no mistake: together, these initiatives will usher in a new day for the Capital Region, the impacts of which will be felt for years, if not generations to come—if we get it right. I want to thank my legislative colleagues and the Governor for recognizing the value of investing in our Capital City's success, and for helping deliver this funding in this year's state budget.”

Assemblymember John T. McDonald III, RPh said “This historic funding is incredible news for the City of Albany and the entire Capital Region. The revitalization of the New York State Museum, the reimagining of I-787, much-needed improvements to the Empire State Plaza and other investments are transformative projects that will enhance connectivity, celebrate our history, and create new opportunities for residents and visitors alike. These efforts reflect years of advocacy and collaboration, and I thank Governor Hochul for her continued commitment to supporting the City of Albany and strengthening the Capital Region as a whole.”

Assemblymember Gabriella A. Romero said, “These investments truly are an investment in Albany’s potential and in making it a city all New Yorkers can be proud to call our capital. Revitalizing downtown, strengthening small business, expanding affordable housing – these are all valuable steps to uplift Albany. I thank the Governor for her leadership in championing this historic investment and Championing Albany’s Potential.”