City & State NY – March 8, 2025
New York Gov. Kathy Hochul has announced a $400 million redevelopment plan aimed at revitalizing downtown Albany, addressing long-standing concerns over its economy, infrastructure, and public perception. The initiative, revealed in Hochul’s State of the State address, allocates $150 million to renovate the New York State Museum and $200 million for various downtown projects. The plan, which has received mixed reactions, seeks to improve the city’s appeal as a political and economic hub, though details on specific projects remain unclear.
Albany has struggled with economic stagnation, crime concerns, and a declining quality of life compared to neighboring cities like Troy and Schenectady. Empire State Development, the state’s economic development agency, has solicited proposals to guide large-scale downtown improvements, with ideas ranging from a minor league soccer stadium to repurposing office spaces for housing. A significant focus is on Interstate 787, a divisive highway cutting through the city, for which Hochul has proposed $35 million to explore redevelopment options. Local officials, including Albany County Executive Dan McCoy, have expressed cautious optimism about the scale of the investment.
Despite a reported decline in violent crime, concerns about public safety persist, with business owners citing issues related to homelessness and disorder. Hochul has committed $1 million for safety measures, but structural issues, including an understaffed police force, remain obstacles. The investment marks Albany’s most ambitious redevelopment effort since the construction of Empire State Plaza in the 1960s, and while Hochul has dismissed the notion that Albany is a “crime-ridden city,” she acknowledges that perception plays a crucial role in shaping its future.