On August 6, 2025, New York Governor Kathy Hochul officially launched the first public workshop for the ambitious $400 million Championing Albany’s Potential (CAP) initiative, aimed at transforming the heart of the state’s capital.
Held at the Albany Capital Center, the workshop drew hundreds of attendees, including local residents, business leaders, and government officials. The CAP initiative includes $200 million in strategic investments to boost commercial corridors, support small businesses, expand housing, and revitalize underused spaces.
Governor Hochul emphasized the importance of public involvement:
“We have the funding and the momentum—now it’s time for the public to shape Albany’s future.”
Empire State Development, in partnership with planning firm MIG, is leading the effort to craft a long-term growth strategy for downtown Albany. The initiative also includes:
- 💰 $150 million to enhance cultural institutions like the New York State Museum
- 🚧 $40 million to reconnect neighborhoods divided by Interstate 787
- 🚓 $1.5 million for public safety improvements
A new website, downtownalbanystrategy.com, has been launched to share updates and future workshop dates.
Local leaders praised the initiative as a historic opportunity to reshape Albany for generations. Albany Mayor Kathy Sheehan called it “a new day” for the city, while State Senator Pat Fahy highlighted its potential to “renew our collective hopes and visions.”