A new chapter has begun for downtown Albany's long-abandoned Central Warehouse, one of the area’s worst eyesores.
Standing outside the 11-story building Thursday, Albany County Executive Dan McCoy praised fellow-Democrat Governor Kathy Hochul's announcement earlier this week awarding $9.75 million dollars to kickstart redevelopment of the crumbling structure. It also means a measure of closure after developer Evan Blum missed several deadlines to make repairs while racking up fines as the city spent money on emergency repairs.
"That nightmare is over, we're closing that door, I do want to say that my department of law, who was for last couple of years, been on the frontlines fighting this navigating through the court system, they made it happen," McCoy said. "So to my department, I want to say thank you for your dedication to the taxpayers of Albany County to make sure we can legally get here, it's all over with. Let's just move on. And let's talk about the redevelopment."
McCoy formally transferred ownership of Central Warehouse to Redburn Development's Jeff Buell, who promises to eventually deliver a mixed-use residential-commercial space and a rooftop restaurant.
“We pride ourselves in investing in historic buildings for a reason," Buell said. "It's the greenest possible way to develop a community. The building is already here, and there's no need to put it into a landfill. I will say this, to demo, it would cost much more than the amount of money that they will put into the building to fix it. To know, so the state is not investing $100 million, we will be doing that. The state's initial investment is $9.75 million. Great use of the word initial there and the rest of that is private funding. "
Albany Mayor Kathy Sheehan, also a Democrat, says after speaking with Buell she became convinced he is the right fit for the project. She says he has a great track record in the city, with projects including the refurbishment of the Kenmore Hotel.
“Let's have an open mind," said Sheehan. "Let's not take any idea off the table. That's how passionate I am about getting this building, reimagined and back into something that we can all be proud of. And so I am so thrilled to be standing here today. We are grateful to Empire State Development and to the Restore New York program for understanding that this is something that we are committed to, that we are going to make happen. And that we are going to make you very proud of this investment that you have decided to make here in the capital city today."
Sheehan says the initial construction phase will create more than 100 apartments on the second, third and fourth floors, as well as 25,000-square feet of commercial space on the ground floor.
Buell says there's a sizable asbestos problem throughout the building along with structural issues on the southern and western walls that need to be addressed. Yet he sets an aggressive timeline for completing the project.
“I think everyone, it would be really lovely to have everyone on the roof on New Year's Eve ’24,” said Buell.
Central Warehouse sits in Democratic Albany County Legislator Wanda Willingham's 3rd district. She says she is impressed with Beull's vision and his willingness to make a commitment for change.
“To dream big and understand what it takes," Willingham said. "So as we do things with this, we're going to move it up here and make sure that those people in this neighborhood understand too, there's more to come, there is more to come. And Albany is going to be a great place to live, raise your family, stay here and invest in yourself. “
Buell says work will begin immediately.
