TACTICAL REVITALIZATION PLAN FOR DOWNTOWN ALBANY NY

Project Approach, Scope of Work, and Deliverables
In this regard, we believe that the experience of our team will prove to be very relevant to the
Albany situation. At the same time that Albany was beginning its focus on downtown housing,
downtown Louisville was doing so as well. Using a similar residential market analysis, a major
initiative was undertaken to stimulate the downtown housing market, also focused as much on
the supply side as the demand side. A series of mechanisms was put into place - including
an innovative public /private partnership that created highly attractive secondary financing,
the Louisville Downtown Housing Assistance Fund – that indeed served as a catalyst for its
downtown housing market. The Downtown Housing Fund has been used as a model for similar
efforts in other mid-sized downtowns struggling with the same issue, and was honored by the
International Downtown Association and the Council of Development Finance Agencies as the
nation’s best revolving loan program.
9. Finding Wow!
Signature elements that solve real problems (the Wow factor as an iconic structure):
Focus on the connection between the riverfront and downtown, which is a genuine need and
must be addressed through the overall planning process. However, we suggest that we avoid
thinking of this as merely a pedestrian connection, but as a signature element that becomes an
iconic and celebratory element in and of itself, especially since the span across the highway is
very long.
Building on unique assets to avoid Anywhereville (finding the roots of Wow in the Now):
Cities that try to replicate elements attempted in other cities are destined to fail in their efforts.
People today, especially younger, tech-savvy ones with mobility as to where they choose
to live and work, are seeking interesting places that are authentic. All cities have their own
set of tangible and intangible “assets” that help define their character, though often they are
not easily identified by visitors. A process that investigates exactly what Albany’s assets are
and develops innovative ways to highlight and celebrate them, both in terms of development
projects and the public realm, will result in a far more sustainable downtown. We have done
this with great success in a number of cities, including in Louisville (developing Glassworks,
Louisville Slugger, Bourbon Trail, etc.) and Pittsburgh (Three Rivers Park, river taxi system, new
stadia and casino intertwined with post-industrial re-use).
Celebration of Albany’s assets can also serve as a bonus for tourism. While perhaps not
viewed holistically as a prime tourism destination, downtown Albany is well situated as a base
for a variety of tourism activities, whether as a port of call for Hudson River excursions, as
a gateway to Saratoga to the north and the Berkshires to the east, the growing culinary and
wine region to the south, etc. And tourism could provide the necessary additional activity
to stimulate more vibrant retail and entertainment activity in the downtown. Focusing more
attention on this market segment, and integrating its needs into both the overall downtown and
riverfront revitalization effort, including an iconic wow factor – be it the riverfront connection or
something else – would be a significant part of our efforts.