The mayor of the region's largest city says investments from the state could be transformative heading into 2019.
Albany Mayor Kathy Sheehan pointed to the city recently winning $10 million from the state to invest in the downtown area, as well as $6 million for various projects received in the annual state money awards. The Downtown Revitalization Initiative money will go toward projects in the Clinton Square neighborhood near the Palace Theatre.
"We are the largest city in the state to win the Downtown Revitalization Initiative," Sheehan said at an event Wednesday at the University Club of Albany on her priorities for 2019. "It’s really going to transform the gateway into our city, the Clinton Square area. We're so excited about what it means for the Palace, for the Albany Symphony Orchestra, for Cap Rep, and for the new skyway that is going to go in there."
Sheehan also touted private-sector investments in the downtown area, including a $78 million investment by Redburn Development to build 350 mixed-income apartments with commercial and retail space.
"We have had so much angst over what's happening on Pearl Street and the fate of the Kenmore and the Steuben Building and the building right around the corner on Sheridan," Sheehan said. "We now have a great developer."
Sheehan, a Democrat, this year will again push for $12.5 million from the state to close what she sees as a structural deficit in the city's budget. The money was not included in Gov. Andrew Cuomo's budget proposal. Sheehan attributes the gap to the amount of land the state owns in Albany that is not taxable.
"The state owns more property than all of our homeowners combined," Sheehan said.
One of Albany's challenges this year will be to address violence in the city after 15 homicides were reported last year. Sheehan is investing in smart LED streetlights to help prevent crime.
Her priority is on increasing equity across the city by investing in neighborhoods like West Hill and the South End.
"We will only be as strong as our most challenged neighborhood," Sheehan said.
Source:
https://www.bizjournals.com/albany/n...-her-2019.html
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