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REQUESTFORQUALIFICATI ONS Building a Tactical Revitalization ...

REQUESTFORQUALIFICATI ONS Building a Tactical Revitalization ...

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SCOPE OF SERVICES<br />

1. Economic and Market Analysis<br />

2. Land Use & Ownership, Existing and Underutilized Sites<br />

3. Existing Infrastructure/Transportation/Parking<br />

4. Current Fiscal Situation of Downtown Albany<br />

5. Existing Branding & Marketing Programs<br />

6. Quality of Life Factors<br />

A. Economic and Market Analysis<br />

The economic and market analysis is the foundation for developing a credible and actionable redevelopment plan for<br />

Downtown Albany. AKRF will conduct the economic and market analysis that will provide the economic reality framework<br />

for vision and goals that will be developed in Task C. The activity will proceed concurrently with the other existing condition<br />

analyses being conducted by other team members.<br />

Economic Analysis<br />

The economic analysis is the foundation for developing a credible and actionable<br />

redevelopment strategy for Downtown Albany. AKRF and Halcyon will evaluate<br />

the economic conditions and trends in Albany and the surrounding area. Key<br />

economic indicators that will be evaluated include:<br />

• Unemployment rates<br />

• Housing (new construction and existing home sales)<br />

• Income growth<br />

• Major existing employers<br />

Halcyon and the AKRF Team will also expand upon the following building<br />

blocks that will inform creating an effective economic development approach. They are intended to produce definitive<br />

knowledge enhancement and public/community relationships for Albany’s future economic development.<br />

<strong>Building</strong> Block #1—Identify External Enterprise Drivers<br />

External forces that impact Albany businesses:<br />

• Regional Trends—Growth patterns; recent Corporate Locations<br />

• Corporate Wish Lists Evaluation—Location factors and demographic opportunities<br />

• Supply Chain Future Drivers<br />

• Workforce Pipeline—Training linkages and cost<br />

<strong>Building</strong> Block #2—Identify Internal Enterprise Drivers<br />

Looking more closely at the factors which drive enterprises, we will also assemble data points on:<br />

• Perceptions of Quality of Life (QOL), retail, and housing stock<br />

• Aging Facilities—Key building obsolescence<br />

• Workforce<br />

• Lack of “Centers of Excellence”—Demarked Magnet/ Training Schools<br />

• Co-Locational forces—Data centers<br />

10<br />

Proposal For Capitalize Albany Corporation<br />

RFP for <strong>Building</strong> a <strong>Tactical</strong> <strong>Revitalization</strong> Plan for Downtown Albany, NY

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