Press Releases

Downtown Residential Development

Albany’s downtown apartment market is starting to sizzle. Over fifty new residential units have been added in the last few years. And according to the building owners, all of those units are fully rented and there is strong demand for more...

Albany’s downtown apartment market is starting to sizzle. Over fifty new residential units have been added in the last few years. And according to the building owners, all of those units are fully rented and there is strong demand for more.

In addition to those fifty units, the number of projects in the pipeline is growing. Recent announcements of new projects include a 15 unit conversion of a formerly vacant nightclub at 4-6 Sheridan Avenue, as well as a 24 unit luxury condominium project in an abandoned car dealership building at 17 Chapel Street.

All of these announcements take on a greater significance when you consider that just five years ago there were no apartments or condos available in Albany’s downtown business district. With nearly 40,000 people working in downtown Albany, that figure did not go unnoticed by local officials.

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