Notable chunk of downtown Albany under contract to be sold

Mike DeMasi reports that a group of five buildings in downtown Albany -- including the old Kenmore Hotel building, old Steuben Athletic Club building, the old Times Union building on Sheridan, and the building that houses (for now) Capital Repertory Theatre -- are under contract to be sold to Redburn Development and Sequence Development. If these buildings are put back into something like full use it could be a big shift for downtown Albany, especially if the use is residential. [Biz Review]

Comments

IMO, this perhaps may be the most important development news for downtown Albany! These guys have the trifecta: experience, the cash to make it work, and some great buildings to work with (complete with plenty-o-parking). I have a 1,000 ideas focused on two "hopes": 1. that they develop it cohesively/comprehensively---for example: not just build out apartments and condos (with some level of affordability across a broad range), but also integrate downtown-living- supportive features (a market? a gym? a movie screen? a florist? some retail? whatever else is missing to support life downtown after 5 pm); 2. that it includes some public space--perhaps an open lobby or pocket park or community meeting space or public art.
Let's hope this deal closes and the development moves forward. And please let the naysayers be overruled by those who appreciate a vibrant downtown.

Hasn't the Kenmore been under potential redevelopment for a couple years now, including integrated parking and a theater screen?

jsc, I'm on board with the spirit of your comments, but it's worth noting that there is a florist on Columbia St (though admittedly primarily daytime hours) and a gym in the hotel on lower State (74 I think).

It sounds like the Arcade Building is a good model for what you're suggesting, and I agree, it would be nice to see more developments taking that kind of holistic approach.

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