TACTICAL REVITALIZATION PLAN FOR DOWNTOWN ALBANY NY

Section 2
Utilizing information from the existing conditions assessment as well as the visioning exercises
(TedX, etc..) and reverse engineering work, the NBBJ team will create a targeting model that
will identify types of companies, talent, and residents that will best fit with the emerging Albany
model. The team will identify marketing channels and key concepts (incentives, place-making,
story line) to incorporate into an overall merchandising of Albany.
Promoting Physical Space Innovation through Regulatory Flexibility
Attracting highly mobile talent, companies, and residents require far more flexibility and
innovation in Downtowns to best take advantage of current and emerging trends in business
locations and lifestyles. The ability to provide temporary (pop-up) installations and businesses,
the need to integrate living and work spaces, the need to provide small and flexible spaces
for entrepreneurs, technology start-ups, and internet-based businesses all require a different
mindset regarding zoning and other regulations. In Louisville, new housing prototypes - both
for-sale and rental - in Downtown areas with maximum flexibility and the ability to integrate
smaller retail and business activity at ground level in Louisville required a suspension of the
existing zoning categories, but has resulted in great success – and the ability to accommodate
a Downtown housing need not available prior to that effort. Our early beta testing will further
inform financing gaps or impediments to implementation that need to be addressed in the
strategies.
At this point the team does not feel that investment in the creation of an actual campaign with
supporting marketing collateral is warranted.
Deliverables:
• Customer, Business, Tenant and Talent attraction and retention strategy
• Housing retention and creation strategy
• Retail recruitment and tenanting strategy
E3. Financial Assistance Options
Deliverables:
• Financial Assistance Options that extend the successful actions already underway but take
them to the next level with tax incentives, creative project financing and potential grant
sources.
• Identification of financing options and necessary public incentives and/or investment
E4. Marketing and Placemaking Strategies
Building on Authenticity…..