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

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.

Downtown Works

In partnership with Capitalize Albany Corporation, the Downtown Albany BID has been working to highlight companies based in the Central Business District across industries to hear why Downtown Works for their leadership and employees. Scan the QR code or visit downtownalbany.org/downtownworks to read the full profiles and learn more about why companies are choosing Downtown, and to start the conversation about finding you the best space for your business. “I’m not a corporate park person. I don’t like antiseptic. I don’t want to hear the ventilation. I like being around people, going for a walk to the river. It’s totally different because you see people in the elevator that live here; they’ve got their dogs and everything. It’s a different vibe totally but we like it a lot.” ~David Weinraub, Brown & Weinraub Co-Founder “Number one, we love our space here. I do believe it’s some of the nicest space in the Capital Region. Everybody knows Albany and potential clients know Albany; you don’t have to explain where you are and our address needs no explanation. That’s not necessarily the case with locations outside the city. It takes away a question when they’re trying to figure out where the firm is. It’s a real benefit.”

~Jim Dering, Garfunkel Wild, PC Partner “We looked all over the place within reason. Office parks, downtowns, multiple counties. This was the first space we looked at, and it ended up being the one we went with. It’s very conducive to team work, and there’s an energy you just don’t get in the suburbs.”

~ Brendan Casey, Upside Collective President

Ranking Albany

Albany ranks in the top 25 among the most educated cities in America ~ Wallethub (July 2021) One of the biggest attractors of greater New York City workers ~ Center for Economic Growth report utilizing 2018 data (October 2020) One of the nation’s best places for career opportunities ~ smartasset (August 2021) Ranked 6th in next biggest tech talent market ~ CBRE (July 2021)

Honoring Cornelius D. Murray, Esq.

2021 James M. DiNapoli Award Recipient A staunch advocate for the urban core that is downtown Albany, Cornelius D. Murray, Esq. has exemplified the spirit of partnership represented by the James M. DiNapoli Award. A Shareholder at law firm O’Connell & Aronowitz, Mr. Murray understands the importance of a public-private collaboration in fostering an active metropolitan area. During his tenure on the Board and as Chairman of the Albany Parking Authority, Mr. Murray was a leader in strategic development aimed at helping businesses in Downtown, including construction of three parking garages, which added substantially to the parking availability for those visiting and working in the Central Business District. Over the course of his five decades at the Downtown law firm, Mr. Murray has seen downtown Albany, which he calls the heart of the Capital Region, experience incredible growth and development. Crediting City leadership, business and property owners, and developers who are creating residential space, he sees the future of Downtown a continuation of mixed-use property that invites a community spirit fostered by those who live and work in the District.