Albany County Takes Bold Step with Central Warehouse Purchase

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News Summary

Albany County Takes Bold Step with Central Warehouse Purchase

A Historic Property with a Troubled Past

Albany County Executive Daniel P. McCoy has announced a momentous decision that aims to breathe new life into a long-neglected property in the heart of Albany. The Central Warehouse, a building steeped in history, has officially changed hands after being purchased by the Advance Albany County Alliance from CW Skyway, LLC for a modest $50,000. This acquisition marks a significant turning point in the effort to revitalize an area plagued by deterioration for over three decades.

Originally constructed in 1927, the Central Warehouse functioned as a refrigeration facility for more than 60 years. A victim of neglect and abandonment, the site has changed ownership numerous times, with various rehabilitation plans drafted but ultimately shelved due to exorbitant costs and insurmountable challenges. The building’s deteriorating structure has made it both a safety hazard and a visual blight on the city landscape.

Financial History and Initial Rehabilitation Plans

The Central Warehouse’s recent acquisition comes following a tumultuous financial history. In 2022, CW Skyway LLC purchased the property, which included the troubled cancellation of more than $500,000 in outstanding back taxes owed to Albany County. Initially, a $9.75 million Restore NY grant was earmarked for the building’s rehabilitation in partnership with Columbia Development; however, rising renovation costs — projected to exceed $100 million — led to the grant being returned.

The future of the Central Warehouse took a hopeful turn as Albany County Economic Development officials devised a plan to demolish the crumbling structure. The goal is not merely to remove an eyesore but to transform the entire area into a genuine community resource.

Demolition Plans and Funding Success

In a significant stride toward this goal, a Request for Proposal (RFP) was issued in October 2024 for the building’s demolition. A total of seven bids for the demolition contract were submitted, and the field has since been narrowed down to three final contenders. The winning contractor is expected to be announced within a week and a half.

Preparation for the demolition underscores the serious issues tied to the aging structure, particularly the presence of asbestos. Asbestos abatement is projected to commence in the spring/summer of 2024, paving the way for the demolition process itself. The overall timeline for completing this project is estimated to span between nine to twelve months, with funding already secured through the Empire State Development Restore NY program, which allocated $10 million, alongside $3 million from the American Rescue Plan Act.

Albany County has also committed to collaborating with local businesses and the railroad to ensure that demolition activities disrupt the community as little as possible.

A Vision for the Future

McCoy described the acquisition of Central Warehouse as a “significant milestone” in efforts to reinvigorate the area, highlighting the property’s untapped potential for future development and community use. The Central Warehouse has been a crucial part of Albany’s history, having served not only as a food distribution site for welfare recipients but also as a fallout shelter during the Cold War era.

With both the community and the local government invested in the revitalization of this historic site, the narrative of the Central Warehouse is being rewritten. From the ashes of neglect and decay, Albany County is taking a bold stance in the pursuit of transformation, setting the stage for a bright future that honors the past while addressing the needs of its present and upcoming generations.