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Old 06-30-2019, 05:31 PM
 
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Apartment roundup: Inside some of the Albany region's newest places for rent

The data shows that there's been virtually no growth in asking rents in the Albany region over the past year, and the multifamily rental market is softening. A significant factor in that trend: Apartment construction has been going strong for several years in this area.

Thousands of new units have been built in urban and suburban neighborhoods, with more on the way.

If you're in the market for a new place, you're in luck. Options now include waterfront balconies, giant skylights, coworking spaces and a long list of other amenities.

More at this source: https://www.bizjournals.com/albany/n..._news_headline
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Old 07-03-2019, 10:12 PM
 
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In regards to the Dana Avenue Properties in the Park South neighborhood: Renewal of Dana Ave Properties To Further Park South RevitalizationCapitalize Albany
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Old 07-09-2019, 02:19 PM
 
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The Albany airport Northway connector is set to open this year — and it'll be called Exit 3

The Northway is finally getting its Exit 3.

Gov. Andrew Cuomo announced the new exit off Interstate 87 to get to and from the Albany International Airport will be named "Exit 3," after decades of conversations about building the exit with no results.

"What we said is it can't take 50 years to build Exit 3," Cuomo said Tuesday at the airport. "We are making it happen, and when you put the investment together with the action, together with confidence, you put those two elements together, that is dynamite. That is TNT, and it creates a great, positive, synergistic economic explosion."

Construction on the new exit ramps is ahead of schedule, expected to be completed by the end of this year. Originally, the $50 million highway connector was scheduled to be finished by November 2020.

The flyover exit ramp is being built off the Northway to take cars directly to the airport, bypassing the intersection of Wolf and Albany Shaker roads. The Cuomo administration says the connector will also reduce congestion at that intersection.

Building an Exit 3 has been talked about for decades. Existing exits jump from 2E and 2W, onto Central Avenue, to Exit 4, which goes to Wolf Road. The number was originally planned for an interchange with an Interstate 687 that was never built. A sign was installed on the highway in the 1970s saying "Exit 3 to be built," but the exit never came.

Cuomo's administration announced plans to build the new exits this past August.

Other upgrades to the airport itself are expected to be completed by March 2020. They include a new garage with 1,000 parking spaces, as well as new dining options, new escalators and upgraded signage.

The various renovations and the new Northway connector are part of a $92 million project to modernize Albany's airport. The state is investing $72 million in the project, part of Cuomo's $200 million upstate airport competition and $100 billion infrastructure renewal plan.

Mark Eagan, president and CEO of the Capital Region Chamber, spoke during the event Tuesday, saying the airport plays a critical role in driving economic growth.

"With the airport renovation underway and the additional parking garage under construction, now coupled with greater accessibility from the Northway, the Albany International Airport will remain a key partner in fueling our regional economy," Eagan said.

More than 1.4 million people boarded a flight at the Albany airport last year, the fifth-straight year of growth.

Source: https://www.bizjournals.com/albany/n..._news_headline
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Old 07-10-2019, 03:50 PM
 
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New Jersey developer picked for One Monument Square in downtown Troy

Hoboken Brownstone Co. of New Jersey beat three competitors to be named the city's development partner of One Monument Square, an empty 1.6-acre parcel along the Hudson River in downtown Troy that has vexed local officials since the old city hall was demolished eight years ago.

Hoboken Brownstone has built or converted urban properties in northern New Jersey into large mixed-use developments including The Enclave, a 260-unit luxury apartment building that opened last month in a former chocolate factory in Jersey City.

The big question now is whether the developer can succeed where others failed because of public opposition to the design for a large mixed-use building, lawsuits and other reasons. The city is on its fifth attempt to redevelop the site.

A nine-member committee appointed by Mayor Patrick Madden interviewed four development teams and picked Hoboken Brownstone Co. The other companies were First Columbia LLC/The Davis Cos., The BDC Group and RAL Development Services LLC.

The selection was based on prior experience, understanding of the public vision and financial capacity to complete the project, according to the city.

"We love the experience they have," Madden said in a phone interview today. "They have the financial capability and a commitment to the final objectives of the project. They understand what the community is looking for. We're all going into this with our eyes wide open and the consent of the community for how this development should be prioritized."

The next step is for the city, Troy Local Development Corp. and Hoboken Brownstone to negotiate an agreement outlining the process and solidifying a project timeline. A sale of the property would have to be approved by the Democrat-controlled City Council.

Hoboken's specific plans for the site aren't known yet, but company officials attended a design charrette hosted by the city last year to get feedback on what the public wants to see built. The consensus: public space, views of the Hudson River and parking.

"Going into the design process, we have a broad understanding [there will be] some retail, some office and market-rate apartment component," said Sumeet Gupta, a principal at Hoboken Brownstone.

Gupta has already met with Sam Judge of Judge Development Corp., an influential adjacent property owner whose lawsuits halted plans for the last development proposal on the site, an 11-screen movie theater. There are no outstanding legal claims.

"We appreciate what his concerns have been in the past," Gupta said. "Our goal is to work with him. We really want to embrace his experience and feedback. He seemed very amenable and he feels we need to work together. We're just going to do our best and I think it's appropriate to keep everything transparent."

The public is invited to meet the principals of Hoboken Brownstone and talk to city officials and members of the selection committee on July 16 at 6 p.m. at the Arts Center of the Capital Region at 265 River St.

More at this source: https://www.bizjournals.com/albany/n..._news_headline
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Old 08-15-2019, 10:08 AM
 
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Glens Falls reveals plans for South Street redevelopment: https://www.bizjournals.com/albany/n..._news_headline
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Old 08-28-2019, 08:22 AM
 
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Apartment roundup: Inside some of the Albany region's newest places for rent: https://www.bizjournals.com/albany/n..._news_headline
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Old 09-05-2019, 03:26 PM
 
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A look inside the construction of UAlbany's $180 million ETEC building: https://www.bizjournals.com/albany/n...on-update.html

New apartments open in Troy near RPI campus: https://www.bizjournals.com/albany/n...h-terrace.html
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Old 09-09-2019, 11:58 AM
 
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Developers planning $30 million warehouse park off Interstate 87 in Queensbury(snippet): https://www.bizjournals.com/albany/n..._news_headline

Company involved in development: https://www.jaggroupllc.com/?fbclid=...2XSZud9UsHDzns
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Old 09-10-2019, 09:15 AM
 
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More from the Crane Watch section of the Albany Business Review: https://www.bizjournals.com/albany/feature/crane-watch
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