DOWNTOWN WORKS
Transformational development continues in Downtown with residential conversions and vibrant coworking spaces among the projects recently completed or in the pipeline. Read on for commercial development, and turn to page 13 for updates on our Downtown neighborhood.
Chicago-based company expands into Downtown In early 2021 Downtown welcomed our largest coworking space to date when Novel Coworking opened its doors. Subsequently rebranded to Expansive Workspace, the Chicago-based company opened their first New York location in our District at 69 State Street after purchasing the property. Recognizing downtown Albany as an investment opportunity and wanting to add flexible workspace to what CEO Bill Bennett saw as an underserved market, the company purchased the 17-story building in early 2020. The coworking space opened in February following renovation of approximately 40,000-square-feet – roughly one third of the building’s 135,000-square-foot space – into the coworking space that features flexible workspaces, private offices, and SmartSuites™. Memberships include 24/7 access to the building, direct fiber internet, ability to personalize office spaces, and more. “We are excited to support Albany’s small businesses as well as enterprise firms with beautiful, affordable space to grow their businesses. We have seen huge demand for flexible, customizable workspace from companies of all sizes.” ~ Bill Bennett, Expansive Workspace CEO
Coworking for nonprofits Powered by the United Way of the Greater Capital Region, the Blake Annex brings a new office option for the area’s nonprofit sector with private office, meeting and training rooms, and open coworking spaces in an environment aimed at encouraging collaboration. In addition to the myriad of programming, educational, and collaborative benefits associated with The Blake Annex, nonprofit organizations stand to lower their overhead through membership. Organizations transitioning to a private office in a shared workspace environment stand to save up to 47% on the cost of a traditional commercial office lease. The 25,000-square-foot space is named for the builder of the Kenmore building, Adam Blake, Jr., the son of a slave, who became among nineteenth-century Albany’s most successful businesspeople, making his way as a restaurateur and eventually hotelier. “In addition to the dynamic and inspiring workplace experience, The Blake Annex will break down silos, increase efficiency and capacity, inspire thought leadership, drive creative collisions, and elevate the critical role nonprofits play in building strong communities.” ~ Peter Gannon, United Way of the Greater Capital Region President & CEO
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downtownalbany.org
Downtown makes the ‘List’ For over three decades the Business Review has been releasing the Book of Lists, a go-to publication for everything from job-seekers to CEOs looking for bids on upcoming projects. In the Albany Business Review’s 2020-21 edition, businesses and properties within the Downtown Albany Business Improvement District are represented over 70 times in nearly 30 categories, ranging from the longest-running family-owned businesses to largest office buildings. Scan the QR code to read the full list.
