ALBANY, N.Y. (NEWS10) – There is a new vision for one of the largest developable properties in Albany.
Engineers and state officials spoke about their new plans to use vacant buildings and lots to breathe life back into the City of Albany.
“This is such an exciting project in downtown Albany we spent a lot of time looking at how this site could get redeveloped,” Thomas Conoscenti, of VP Real Estate Empire State Development, said.
The Albany Convention Center Authority currently controls about 4.5 acres of land near the city’s Central Business District. The district includes vacant office buildings, an old bus station, and other underutilized lands.
When the authority put up $10 million in taxpayer money years ago to buy these properties, the original plan was to build a convention center, but they ended up settling on a different location.
Now, the authority is planning to dispose of the massive property and with the help of Empire State Development and an outside engineering firm. On Thursday, the authority heard two possible plans for redevelopment.
“It’s a surplus property at this point so the need to develop it is the next stage,” Megan Daly, Interim Chair of the ACCA Board, said.
Both plans would turn the area into a bustling urban hub, complete with new residential buildings retail, entertainment spaces, and even green space like parks. These are just suggestions and inevitably, the properties would either go to the state or the highest bidder.
“We really wanted to do this study to figure out again, the viability in the marketplace, the phasing of the project, and really present a concept that people would talk about,” Conoscenti said.
The oldest building in Albany is just one of the properties that is potentially on the chopping block when the Convention Center Authority disposes of the land.