Announces Nationally Recognized Planning Firm MIG To Develop Roadmap for $200 Million Downtown Albany Investment

Includes up to $150 Million To Revitalize NYS Museum and Other Cultural Experiences, up to $40 Million To Advance Redevelopment of I-787 and $1.5 Million To Support Local Public Safety Efforts

Governor’s Investment in Capital City Represents Comprehensive Approach by New York State To Revitalize Albany That Addresses City’s Needs and Unlocks its Potential

Governor Kathy Hochul today celebrated the FY26 Enacted Budget investments in Albany’s downtown by launching the Championing Albany’s Potential (CAP) Initiative, a more than $400 million, collaborative, State-led effort to revitalize Albany’s downtown core. This includes $200 million in funding to plan and implement projects that reinvigorate commercial corridors, strengthen small businesses, promote housing growth, and revitalize underutilized real estate and open spaces. The CAP initiative also includes up to $150 million to transform cultural experiences in and around Albany’s Downtown such as the State Museum, up to $40 million to advance plans to reconnect communities divided by Interstate 787 and $1.5 million for public safety enhancements.

“Albany is not only our great state’s capital city, it's also a place I call home. This investment isn't just about dollars and cents, it's about jobs, innovation and a brighter future for our community,” Governor Hochul said. “We are building on Albany’s rich legacy of progress and positioning this city as a hub for opportunity in the 21st Century.”

As part of the CAP Initiative, Empire State Development has selected MIG to lead a collaborative planning effort to revitalize the downtown core of Albany. MIG, a nationally recognized planning and economic development firm, will lead a team of experts in urban strategy, public space design, community engagement, and development feasibility. MIG will work with ESD and local stakeholders to develop a roadmap focused on catalytic projects, bundled investments, and a long-term growth strategy for Downtown Albany. The strategy will prioritize projects that are ready to go, supported by the community, and capable of attracting housing, business, and new activity. It will ensure that Albany’s revitalization is not only inclusive, but enduring.

Engagement will begin with local and neighborhood stakeholder briefings. Broader public engagement will be held throughout the summer, beginning in June, alongside digital tools and direct outreach to ensure broad participation. The public may sign up to receive more information on the CAP Initiative page when it becomes available.

Additionally, in cooperation with Empire State Development, Capitalize Albany will launch a Request for Proposals for the redevelopment of Liberty Park on May 28. The Liberty Park site spans approximately eight acres and represents the single largest development site in downtown Albany. Capitalize Albany is in the process of seeking transformational development opportunities for the site’s revitalization, which will complement the State's $200 million investment in Downtown Albany. For more information visit the official Liberty Park Site Redevelopment website.

The comprehensive approach to the CAP Initiative also includes up to $150 million to transform cultural experiences in and around Albany’s Downtown, such as renovating the New York State Museum and upgrading the exhibits to be more inviting to Albany families and tourists alike. It also includes funding to invest in improvements at the Empire State Plaza to strengthen connections with the surrounding community and make the space a vibrant and inviting part of the fabric of downtown Albany.

Additionally, Governor Hochul has committed up to $40 million to advance plans to reimagine I-787 which would include reconnecting Albany and surrounding communities and enhancing access to the Hudson River waterfront. This summer, the New York State Department of Transportation (NYSDOT) will release a Planning and Environment Linkages (PEL) study on potential ways to reimagine I-787, a travel corridor in the Capital Region that provides high speed access to the City of Albany and other communities along the river, including Green Island, Watervliet and Menands. Building upon the work completed under the PEL study, up to $40 million will be utilized by NYSDOT to begin an Environmental Impact Statement, which will lay the groundwork for a future project along the I-787 corridor. The environmental review will examine ways to enhance waterfront access along the Hudson River for all users of the road, connect neighborhoods and key destinations in communities along the corridor, and address the infrastructure of I-787, the South Mall Expressway, the Dunn Memorial Bridge, and additional infrastructure along the study area.

Governor Hochul previously announced $19.5 million in State investments to improve public safety in Albany, which included a $1 million commitment to the City of Albany Police Department and $500,000 for the Albany County Sheriff’s Office. These investments reflect a record level of State funding for public safety in the City of Albany and Capital Region. These resources are delivered through a series of nation-leading programs supported by the Division of Criminal Justice Services (DCJS), including the Gun Involved Violence Elimination (GIVE) initiative, the Capital Region Crime Analysis Center, the SNUG Street Outreach and Social Work Program and Project RISE (Respond, Invest, Sustain and Empower). Working together, these efforts have helped reduce violence and improve community safety.

Albany is not only our great state’s capital city, it's also a place I call home. This investment isn't just about dollars and cents, it's about jobs, innovation and a brighter future for our community.

Governor Kathy Hochul

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.”

Albany County Executive Daniel P. McCoy said, “Governor Hochul’s Championing Albany’s Potential (CAP) Initiative has the potential to be transformational. It’s a historic commitment to the heart of Albany County that will bring new housing, new business, and new life into downtown. A reimagined Albany is exactly what we need, and I’m proud to stand with the governor in this effort.”

Albany Mayor Kathy Sheehan said, “This $400 million investment is a testament to the hard work of the City of Albany over the last 12 years to be ready to write the next great chapter in the history of New York’s Capital City. The pandemic taught us that we need to reimagine our downtowns to get more feet on the street by creating more housing, supporting our small businesses, enhancing public safety, and attracting world-class amenities, and this transformative investment will do just that and more. To steal a phrase from President Biden, this is truly a ‘big effing deal.’ My sincere thanks and appreciation to Governor Hochul for seeing what we all see in the City of Albany: a city that’s full of pride and potential and ready to soar to even greater heights. I also want to thank Senator Fahy, Assemblymember Romero, and Assemblymember McDonald, as well as the entire State Legislature for making this critical investment in their home away from home.”

Advance Albany County Alliance CEO Kevin O’Connor said, “The Advance Albany County Alliance thanks Governor Hochul for her thoughtful leadership and timely commitment to revitalizing New York’s Capital City. The City of Albany is not only the front door of state government, it is the heartbeat of Upstate New York's fastest-growing county and the springboard for the local economy. The Governor's disciplined approach through the CAP Initiative will ensure that state funding achieves the greatest possible positive impact. Through this partnership, we will supercharge our placemaking efforts, improve public spaces, secure a safe and welcoming downtown environment, and stimulate the central corridor of the Capital Region.”

Capitalize Albany Corporation President Ashley Mohl said, “With Governor Hochul’s focus and support fueled by this historic more than $400 million investment, New York’s capital city stands on the brink of transformative growth. Our board and staff look forward to working with ESD and MIG alongside our many local and other state economic development partners to maximize this funding and seize this incredible opportunity. To build on the Governor’s CAP Initiative, Capitalize Albany is looking forward to advancing its planned solicitation for qualified development teams interested in acquisition and redevelopment of the Liberty Park site. Our RFP will engage the market directly with the aim to attract strong interest and a range of RFP responses. If you're a developer or team with a project for the Liberty Park site, we welcome your response.”

Downtown Albany BID Executive Director Georgette Steffens said, “In my 25 years of doing economic development in Downtown Albany, this is the largest investment we’ve ever seen. On behalf of nearly 200 property owners and over 120 restaurants and retail-related businesses, I want to express my profound gratitude to Governor Hochul and the Legislature for their commitment to Albany. We are already seeing the effects of the CAP initiative, with a renewed wave of investment interest in Downtown Albany beginning to percolate. The future of our city’s core is incredibly bright thanks to the Governor's investment, and I look forward to working together to make Downtown a stronger and more vibrant place to live, work, and experience.”