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Scanning the Capital Region Economic Development Council's proposed priority projects for 2015

CREDC priority projects 2016 Cap Rep makeover

One of the proposed priority projects.

The Capital Region Economic Development Council recently released its list of proposed priority projects for 2015. These are the projects the council will be suggesting get state funding in the next round of the Cuomo administration's Regional Economic Development Council initiative.

Last time out in the state's economic development game show -- er, we mean, regional economic development competition -- the Capital Region scored $60 million.

These reports usually include some interesting bits, and they're can be especially interesting because they often surface notable projects that are in the works.

So, let's have a look at a handful of proposed projects that caught our eye. They include a residential conversion project in Troy, a food court for Albany's Warehouse District, and goats...


We pulled together an easy-scan listing of the CREDC's list of proposed priority projects that included details -- it's above in large format, click or scroll all the way up.

Projects that caught our eye

It's important to note that these projects -- and others listed in the the CREDC's report -- might not get funded. And if they do get funded by the state, they might not get funded at the requested level. Some of these projects might not happen at all.

444 River Lofts
project cost: $1,793,824 | asking for: $358,764
This is the latest plan to renovate the Marvin Neitzel Building on River Street in Troy. (It's that old, large warehouse-type building diagonal from the strip that includes Brown's.) Will this one go through? It proposes "a gut rehabilitation with the creation of 75 residential units and approximately 8,000 square feet of retail space." (pdf p.50)

American Acoustic television series
project cost: $1,312,856 | asking for: $91,000
Proctors and a production company called Barrelhouse Pictures are planning to produce a TV show called American Acoustic that would air on PBS stations. "It will be recorded live at Proctors in downtown Schenectady during the summer of 2016. The pilot series consists of six one-hour episodes featuring mainstream popular musicians and recording artists playing roots- influenced acoustic versions of their most popular songs." Schenectady City Limits? (pdf p. 54)

Capital Rep theater renovation
project cost: $4,826,571 | asking for: $965,000
This seems relatively straightforward: Capital Rep wants to makeover its facilities: "Capital Rep will renovate its downtown Albany location, replacing its antiquated lighting and sound systems and heating/cooling system, and constructing a new lobby, box office, café and seating space." And, judging from the accompanying rendering, it looks like that parking garage above the theater would also get a makeover. (pdf p. 56)

The Good Market
project cost: $1,500,000 | asking for: $290,000
This project -- backed by The Good Market of Upstate New York LLC -- is looking to create a Chelsea Market-style food market in Albany's Warehouse District. "Good Market will be a curated food court with approximately 20 unique vendors focused on delicious local, fresh prepared foods and ingredients from New York State vendors and regional micro-chains." Yet another sign that developers have their eye on that neighborhood. (pdf p. 60)

New York Arboretum
project cost: $1,212,800 | asking for: $240,000
MiSci, Proctors, and the Galesi Group are proposing to create an "outdoor museum of trees will showcase the native trees and plants of New York and interpret the stories of their impact on the State's history, industry and daily life" at the Mohawk Harbor site. Here's a Daily Gazette article looking at the idea. (pdf p. 64)

New York State Goat Research Genetic Center
project cost: $200,000 | asking for: $100,000
"The project puts in place a trial implementation of a Regional Master Plan to build a high-value goat dairy industry in New York State." Goats!!! Seriously, though, upstate New York has some real agricultural strengths -- it's one of the world's premiere places for growing apples, for example -- and building on that could lead to interesting economic development opportunities. (There's also another priority project aimed at expanding creamery for goat milk products.) (pdf p. 65)

Nine Pin Cider Works
project cost: $511,000 | asking for: $102,200
"This year, Nine Pin produced 70,000 gallons, which maximized its current production capacity. Nine Pin's project would expand its business through the purchase of new equipment, including the acquisition of six 6,100-gallon fermenters. These improvements will increase manufacturing capacity and result in much-needed leasehold improvements to the manufacturing facility." (pdf p. 66)

Rensselaer Clean Energy Deployment Center
project cost: $12,500,000 | asking for: $2,500,000
This is SUNY Poly's proposal for the would-be casino site on the Rensselaer waterfront. "This project would enable Fuller Road Management Corporation to construct a workforce training and educational facility to support the attraction of clean energy companies seeking commercial office and system assembly space, ultimately serving as the catalyst for the Rensselaer Waterfront Redevelopment Project at Kiliaen's Landing." (pdf p. 71)

River Corridor Bus Rapid Transit/Transit Center
project cost: $3,500,000 | asking for: $647,500
This the transit center that CDTA has proposed for downtown Troy. (See Times Union story from last week.) "The transit center, which will be served by 11 CDTA bus routes and several routes operated by private carriers, will be an enclosed building with climate-controlled waiting areas, bus arrival information, fare media sales, customer services and potential retail space." What's interesting to us about this potential project, and other similar plans floated by CDTA, is that it moves BusPlus toward something a little more than "just" the bus -- maybe something more like light rail. (pdf p. 72)

STEAM Garden
project cost: $1,786,692 | asking for: $357,338
That's STEAM, as science, technology, engineering, arts + design, and math. And this project would build "an innovative multi-use learning lab" for it on Central Ave in Albany (north the intersection with Lake Ave, it appears.) "The incubator will feature affordable work spaces for small tech companies and entrepreneurial tenants; access to workforce and entrepreneurial training and live/learn opportunities--or 'learning labs'--for disadvantaged individuals within the diverse, accessible Central Avenue corridor; Google-inspired collaborative spaces designed to integrate the facility's live/ learn/work functions and cultivate creativity and collaboration; and studio, gallery and makerspace elements." (pdf p. 75)

Tower on the Hudson
project cost: $48,159,375 | asking for: $5,000,000
This project proposes a mixed-use high rise in downtown Albany with "a five-story, 177-space parking garage; a 100-room hotel; 43 residential units; and a retail component." See the Business Review article about it from last week. (pdf p. 77)

Upper Washington Avenue Corridor Infrastructure Project
project cost: $9,500,000 | asking for: $1,900,000
This project is seeking funding for upgrading water infrastructure in Albany's upper Washington Ave corridor to serve all the recent development up there, such as SUNY Poly. (pdf p. 80)


Capital Rep and Nine Pin advertise on AOA.

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