Governor Kathy Hochul announced the start of construction on the Clinton Market Collective project that will renovate Federal Park at the corner of Clinton Avenue and Broadway into the Clinton Market Collective.
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The project, sponsored by Capitalize Albany, is receiving $1.16 million as part of the $10 million Albany Downtown Revitalization Initiative. The $3.56 million project also was recommended for a $750,000 Empire State Development capital grant from the Capital Regional Economic Development Council, a $1.1 million American Rescue Plan Act award from the City of Albany, and a $250,000 grant from National Grid.
The creation of the Clinton Market Collective will expand Clinton Square's significant strengths and opportunities that will be leveraged through the Downtown Revitalization Initiative (DRI) investment. It is a primary gateway to the Capital City, serving as the front door to Albany for tens of thousands of New Yorkers and out-of-state visitors, including thousands of people who come to work here every day and the residents who call Clinton Square home. This area has a rich historic heritage represented by diverse architectural styles and landmarks, like Albany Union Station and Quackenbush House.
Clinton Market is set to complement the adjacent Skyway, the Capital Region's first and only elevated linear park, a project that was similarly designed under management of the City of Albany's economic development organization, Capitalize Albany, with funding assistance under a Regional Councils Initiative grant award.
While construction is underway, Capitalize Albany is stepping into a vital fundraising stage to support bringing additional key site amenities to the space which are needed to activate the market concept. The Corporation has packaged several highly visible corporate sponsorship opportunities to support the project's semi-permanent vendor space in specialized shipping containers, a performance stage, outdoor seating and more.
The Clinton Market site is bordered by Clinton Avenue on the south, Broadway on the east, North Pearl Street on the west and the Leo W. O'Brien Federal building on the north. ■