ALBANY, N.Y. (NEWS10) — The construction of the Clinton Market Collective project has begun, which is a part of the Albany Downtown Revitalization Initiative (DRI). The project will renovate Federal Park at the Corner of Clinton Avenue and Broadway into the Clinton Market Collective, according to the Press Office for Governor Hochul.

The Clinton Market Collective will expand Clinton Square’s strengths and opportunities through the DRI, as it serves as the gateway to the Capital City. The project will enhance the area with an already rich, historic heritage that shows diverse architectural styles and landmarks, such as the Albany Union Station and Quackenbush House.

The project will cost $3.56M overall and receive $1.16M as part of the $10M Albany Downtown Revitalization Initiative. The project was also recommended for a $750,00 Empire State Development capital grant from the Capital Regional Economic Development Council, a $1.1M American Rescue Plan Act award from the City of Albany, and a $250,000 grant from National Grid.

“The Clinton Market Collective project is the latest example of how our investments are transforming communities and driving economic development in downtowns across the state,” Governor Hochul said. “This Capital Region project will create better business and job opportunities in the area while supporting a more beautiful and vibrant space. Through the Downtown Revitalization Initiative, New York State will continue to deliver the resources communities need to thrive, flourish and reach their full potential.” 

“The Clinton Market Collective is a shining example of how investing directly in our communities can transform underutilized areas into vibrant public spaces that drive economic development and revitalize our downtowns,” said Representative Paul Tonko. “I’m proud of my efforts to deliver the American Rescue Plan Act funding that made this project possible, and I applaud the Capitalize Albany team and all those involved in this endeavor for their hard work and their dedication to making Albany a better place to live, work, and raise a family.”