Downtown Albany Commercial & Residential Available Spaces Open House to be held August 17th

ALBANY, NY (08/12/2010)(readMedia)-- The Downtown Albany Business Improvement District (BID) and Downtown Albany property owners and brokers will hold the first Commercial & Residential Available Spaces Open House on Tuesday, August 17, 2010 from 12:00-2:00 p.m., at 23 locations within Downtown Albany.

The Open House is an opportunity for the community to look inside some of Downtown Albany's unique office buildings and residential spaces. A variety of locations will be participating, from the very large modern office towers with amazing views to smaller and medium-sized architecturally significant buildings. Additionally, residential projects like 17 Chapel and 370 Broadway will be open for tours of urban living spaces available in downtown.

"By partnering with downtown property owners and brokers, we are pleased to be able to share more than 20 unique and interesting downtown spaces with the community," stated Georgette Steffens, Downtown Albany BID Executive Director. "We invite Downtown employees on their lunch hour and folks visiting or interested in relocation to stop into the buildings and get a real sense of Downtown Albany's unique spaces and then share their experience with others. We anticipate that visitors will range from those curious about the interiors of buildings they walk by or drive past regularly to those with varying degrees of interest in office/retail relocation or property development in our Capital City."

Current participating buildings include: 370 Broadway (Residential & Commercial), 384 Broadway, 388 Broadway, 418 Broadway, 518 Broadway, 17 Chapel Boutique Condominiums (Residential), 74 Chapel Street, 46 Columbia Street, 48 Columbia Street, 61 Columbia Street, 52 James Street, 35 Maiden Lane, 11 North Pearl Street, 39 North Pearl Street, 74 North Pearl (Kenmore Building), 79 North Pearl Street (Brewster Building), 41 State Street, 50 State Street, 54 State Street, 90 State Street, 100 State Street, 126 State Street and One Steuben Place (Steuben Building). A map is posted on the Downtown Albany BID website with participating locations marked.

Many of the properties will have refreshments, raffles or giveaways and each location will have someone available to answer questions and/or offer tours of the building. Balloons and signs will indentify participating buildings.

370 Broadway is participating in the Open House with both their commercial/retail space and two upscale residential apartments. "We have a commercial space available at The Meginniss Flats at 370 Broadway of 3,800 square feet (sub dividable), as well as two 1,500 square foot, 2 bedroom and 2 1/2 bath apartments," stated Brenda Gould, a partner in the 370 Broadway mixed-use redevelopment project. "We are excited that the Open House will bring people into the building who might not otherwise see its potential as a prime business location or living opportunity." 370 Broadway will be doing a raffle for a gift certificate to a downtown restaurant and is offering a referral fee for its last available apartments.

Information on the Albany Parking Authority's new Parking Incentive Program will also be available at each location. In June, the Albany Parking Authority (APA) announced a new commercial parking incentive program for organizations looking to locate or expand in Downtown Albany. The APA will be offering a 50% discount on current monthly rates for long-term new or expanded parking leases at the three Downtown Albany garages: Columbia Street, Green-Hudson and Quackenbush Square. This brings the cost from $140 to $70 per space, per month with a total annual savings of $840 per space. This incentive will assist in making Downtown Albany more competitive as a prime location for businesses, developers and brokers within Albany, as well as the Capital Region. The incentive will also offer protection against future cost increases with the ability to purchase up to a 10-year commitment and safe, convenient and covered parking for employees.

"The Albany Parking Authority is committed to working with the business community in the City and understands parking needs play a major role in making decisions about where to invest," said Michael T. Klein, Executive Director of the Albany Parking Authority.

For more information on the parking incentive program, visit www.parkalbany.com, call 518.434.8886, or email pipinfo@parkalbany.com.

For general questions regarding the Downtown Albany Open House, contact: Jennifer Miller, Director of Business Development at the Downtown Albany BID, at 518.465.2143 x14 or jmiller@downtownalbany.org or by visiting the web at www.downtownalbany.org.