ALBANY, N.Y. (NEWS10) — The saga of the Central Warehouse will soon be over. Albany County leaders handed over the building’s title to Redburn and Columbia Development today at a press conference.
“No one’s done it and it needs to be done, it’s just sitting here,” Jeff Buell, Principal of Redburn Development, said. “It’s decaying and I don’t know how we can grow as a region when you look at this every day.”
The progress is not without it’s challenges. The county secured ownership of the building after an extensive legal fight with previous owner Evan Blum.
The state also aiding in the redevelopment with nearly $10 Million from Restore New York to jumpstart renovations.
Buell said that money will be used for structural changes both inside and outside the building, including addressing the asbestos and exterior wall instability.
The warehouse will be turned into multi-purpose space with storefronts and apartments on multiple floors, with hope for a much-anticipated bar and restaurant on the roof, leading to a total cost of $100 Million.
“This is really going to be a game changer,” Dan McCoy, Albany County Executive, said. “Especially when you’re on the walkway or the rail trail, or you’re just enjoying the Hudson River or just driving by, it’s no longer going to be that eyesore.”
It’ll go in tandem with the Livingston Avenue Railroad Bridge renovations. It’s something city leaders hope will lead to a revitalization of the warehouse district.
“We are already nine-figures deep on investment in the warehouse district so by the end of next year, we’ll be at $100 Million invested down here,” Buell said.
Work on the building is set to begin immediately, they are hoping to have all of the projects finished by the end of 2024.