Downtown Development


By DIA, Section News
Posted on Thu Apr 17, 2008 at 06:34:03 AM EST

Looking forward to what type of "retail" they are planning to include. The good news is that we are going to have plenty of hotels downtown. Plenty.
The Syracuse developers hoping to build a downtown tower have revised their plan, increasing the project's size.

Queri Development Co. originally proposed an 11-story apartment and retail building, and a five-story office and retail building on the site along Broadway, just north of downtown Albany and Quackenbush Square.

Now on the 1.8-acre site, the company wants to build a 12-story apartment and retail building; a four-story office and retail building; and a seven-story, 125-room hotel

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Downtown Development | 5 comments (5 topical, 0 hidden)
Can anyone tell me (none / 0) (#1)
by professor on Thu Apr 17, 2008 at 08:39:08 AM EST
where are the people going to come from that are going to support the retail stores, fill the hotel rooms or move into the apartments??

I must be missing something.  If i'm not mistaken, with all of the development that has taken place in the past ten or so years, where are the people going after work?  They are not staying in Albany, you can still shoot a cannon down State Street Hill five out of seven nights after 6pm.

There are a ton of empty apartments and businesses are closing as fast as they open downtown.  

I don't know, I wish hope for the best, but I haven't seen the goods yet.

It's their money (none / 0) (#2)
by tmonjeau on Thu Apr 17, 2008 at 09:00:55 AM EST
Don't you think that Queri Dev. has done their due diligence and research before they decided to spend their $40-50 million here?  Perhaps they know or believe something that you don't.  A successful development company like Queri is not in the habit of throwing their money away.  

  If I had $40-50 million I don't know if I would invest it in such a development, but it is their money  and their research. Also, as far as I can tell, the privately developed 677 Broadway building is doing quite well and this development will be basically right next door.  I sure hope that Queri is correct in their decision.

  As to your cannonball comment, since I never leave my office downtown before 6 or 7 pm (or later), I almost always see people around downtown.  Since I have had my office down here since 1987, the change has been remarkable.  And, without a doubt, the Knick-Pepsi-TUC has been the catalyst.  This observation is why I am still hopefull that a way can be found to do the Conv. Ctr., keeping in mind that if there is any way that the City could end up on the hook for any $$ connected with it, then fuggedaboutit.  The City is already at the financial precipice.

Time for you to go home (none / 0) (#4)
by A Muse on Mon Apr 21, 2008 at 02:45:13 PM EST
You might be correct however Countrywide, and Enron did their homework.  That cannon ball just landed on your foot.  The terrible times that we are about to go through bring opportunities and it is possible that options for the revitalization of Albany exist.  Unfortunately I do not believe that anyone presently in the City government has the ability to understand or take actions that are required to take advantage of the opportunities.  Soaring energy prices now and in the future bring opportunities to vacant cities.  You have a Jennings Administration.  People tend to hire people like themselves.

[ Parent ]
Once the box stores and mall chains go (none / 0) (#3)
by hawkny on Sun Apr 20, 2008 at 05:02:46 PM EST
belly up, in large numbers, shoppers will return to downtown.  Not before.

Belly up (none / 0) (#5)
by tmonjeau on Tue Apr 22, 2008 at 02:09:01 PM EST
I would agree, except that even when they go belly up, there are few places to shop downtown, so I don't know.  Personally, I prefer my little Delaware Ave stores, but there are only a limited number or places to shop and unfortunately, I occasionally have to go to the mall or Home Depot.  I do remember fondly as a SUNY Alumni Quad resident cruising up and down Central Ave on my bike going to the Army Navy store, Just a Song, and the myriad of interesting stores that  did not exist in my suburban upbringing in Poughkeepsie...

Downtown Development | 5 comments (5 topical, 0 hidden)
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