Is Albany "booming"? (New York, Malta: renting, house, employment)

[ckhthankgod]

Yes, but also while certain sectors are doing better than others, the unemployment rate is still below average.

[sarchivist98]

Booming may be too strong of a word, but it is definitely "blooming." I've lived here for about 12 years now, and the growth in good food and cultural events has been very noticeable. Sage built their Opalka Gallery, which is an intimate space with some interesting and sometimes daring shows. St. Rose built the Massry Center, which is an awesome acoustical space, and they have lots of outside performers coming in. The Albany Institute of History and Art renovated and expanded, which has allowed it to bring in more traveling shows. RPI built EMPAC, which my kids like to visit just to walk around in, and it has all sorts of unusual performances. Colonie opened an expansive, family-friendly park, The Crossings. The YMCA has opened several new branches. (Alas, my home branch, downtown Albany, closed.) Albany, Clifton Park-Halfmoon, and Altamont, among others have extensively renovated or built completely new libraries.

There are many more dining choices than there were 10 years ago - tons of Indian and Japanese, also Korean, Caribbean, Latin American, Vietnamese, Dominican, Thai restaurants, plus lots of new higher end restaurants. Just tonight I had a great meal at the newly opened Shogun restaurant at Madison Ave near Lark St. We also have New World Bistro with regionally famous chef Ric Orlando.

If you followed the business pages over the past few weeks, you would think the area is more booming than it actually is. During that time we have had a new Shoprite open, building begun on a Trader Joe's, a Whole Foods announce it is moving to Colonie, an expanded organic/artisan bread bakery open, and a new gourmet cheese shop announce it is opening soon.

A chip fab plant has opened in Malta and UAlbany's Nanotech Campus, which President Obama visited today, is expanding quickly. Neither of these, however, appear to have spurred as many jobs and growth as they claim they have. A lot of what Nanotech does is build things for private companies from out of the area. (I know a bit about this because my brother is an engineer in Boston who has contracted out some work to Nanotech.) Also, since this is the capital, the recent deep cuts to government means that growth is not as strong as it could be. People are nervous and cautious about spending money - even if they are not state workers, their livelihood often depends on the spending of state workers.

Mostly the area is stable and growing slowly rather than booming. However, this also means the area hasn't crashed like other areas have. Unlike former boom areas, such as Florida, we have very few foreclosures, and most people have work.

I don't know where you are coming from, but Albany is significantly cheaper than the other, more happening, places I have lived. Sometimes I miss a more vibrant city, but then I look at my bank account - heck, I actually have a bank account that lets me DO things here rather than just scrounge around for free events within walking distance - and my mood improves.

[Roland 544]

As ususal sarchivist is right on the money, it simply depends how your level of personal income and well being is, like clearly most people in arbor hill ( that have computers) might want to leave that area ,and have a negative view on Albany, while the 2 family home owner from the Heldebergs loves his community , his City and does something about it instead of winning and looking for help. As simple as that, no brainsurgeon needed to understand neigboroods and their ups and down, as Gas and other amenities keep rising, the movement to go back into a City with great public transport looks better and better, this weekend is the Tulip festival, check it out, this town still got it.

[cshells72]

I think its nuts how the property tax in Schenectady and Albany is twice what it is in Saratoga, Clifton Park and Colonie though.

[ss20ts]

Originally Posted by ja1myn

You just proved my point. The south has a larger population than the north. Like I said, greater population doesn't equal a favorable boom.

Where does the South have a larger population than the North? New York has about 19.5 million residents.....Georgia and North Carolina combined have fewer residents. No southern state aside from Florida has more than half of New York's popular and half of Florida came from the Northeast!

Capitol Region boom.....

Global Foundries

Washing Ave Extension being moved due to the massive construction projects at UAlbany for the nanotech sector.

Whole Foods

Trader Joe's

Shop Rite

Carhartt

lots of construction projects are in the works - apartments, offices, shopping plazas, houses

major bridge work - Dunn Memorial, Patron Island

There's another grocery store coming to Menands that's not in the area.

A hotel next to Colonie Center is in the works

Clifton Country Mall now known as Clifton Park Center has had lots of things happen lately - new Hilton, restaurant in the Hilton, brand new movie theaters including IMAX, Olive Garden

Latham Circle Mall is going to be redone FINALLY!

So ummmm yeah lots has been happening.

Oh yeah and this little non-famous dude known as the President of the United States just visited the area for the third time since he took office.

[cshells72]

Texas is the second most populated state in the country!

[ss20ts]

Originally Posted by cshells72

Texas is the second most populated state in the country!

And they have a lot of problems New York doesn't have. Well, at least not on the same level. Not even close. It's also 5 times the size of New York and only has 6 million more residents. Well, legal ones that are counted at least.

[Emrak]

Originally Posted by cshells72

Texas is the second most populated state in the country!

Just to be clear...TX is not a southern state. It is a southwestern state. Philosophically, TX identified with the "South" In the Civil War, but do not take this to mean that Texans are Southerners. They are Texans.

[Sally29]

Some interesting data showing that the unemployment rate is Albany is lower than the national rate

Albany-Schenectady-Troy, New York Metropolitan Unemployment Rate and Total Unemployed | Department of Numbers

[MassVt]

Originally Posted by Emrak

Just to be clear...TX is not a southern state. It is a southwestern state. Philosophically, TX identified with the "South" In the Civil War, but do not take this to mean that Texans are Southerners. They are Texans.

That's certainly debatable; however, midwestern states are also northern states, so you should include such states such as Ohio, Michigan, Wisconsin, Minnesota, etc, in any northern totals..