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Albany County approves $550,000 purchase of 48 Howard Street to assemble downtown parcel
Summary
County agreed to buy 48 Howard Street from the New York State Troopers Police Benevolent Association Holdings for $550,000 to assemble a larger development parcel adjacent to other county-owned properties; short-term use includes event support with long-term redevelopment to be solicited through an RFEI and RFB process.
The Audit and Finance Committee approved a $550,000 purchase of 48 Howard Street from New York State Troopers Police Benevolent Association Holdings to assemble a contiguous downtown parcel adjacent to county-owned sites, county staff said.
Mr. Lottley, representing the county executive’s office, told the committee the lot would help consolidate roughly half of the city block with adjacent county parcels, including a nearby parking lot and the former parking garage. In the short term the county expects to use the site to support events and arena operations; staff said the county intends to issue a request for expressions of interest (RFEI) and later a request for bids (RFB) to determine potential long-term development such as a hotel, museum or other uses.
Staff said the property is a contributing structure to the historic district, but not necessarily subject to the same preservation funding entitlements, and that finance will review redevelopment constraints during closing.
The committee moved and approved the purchase authorization.
