Governor Hochul Announces Cohoes as the $10 Million Capital Region Winner of Sixth-Round Downtown Revitalization Initiative
Empire State Development CEO, President and Commissioner Hope Knight said, "It's exciting to see how the DRI continues to revitalize downtowns around New York State, and the City of Cohoes will soon see its transformative effects first-hand. The funding will help "the Spindle City" realize its goals to make be more connected and walkable as well as revive historic buildings and storefronts to attract new residents and visitors and ensure its future growth."
Secretary of State Robert J. Rodriguez said, "Our state is experiencing a renaissance in downtown resurgence, and the Downtown Revitalization Initiative is continuing that momentum into Round Six. With recent investments in the downtown community and an influx of younger, more diverse residents, Cohoes is on the verge of real transformation, and these funds through the DRI will help the City achieve its vision. Congratulations to the City of Cohoes on its award."
Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Cohoes is a diverse city with vast offerings and the State's $10 million commitment to the revitalization of its downtown will breathe additional life into this growing community. Thanks to Governor Hochul and the Downtown Revitalization Initiative, we can create new housing opportunities and renovate existing storefronts in ways that will benefit current and future residents, and compliment additional strategic investments being made across the Capital Region."
Capital REDC Co-Chairs Ruth Mahoney, Executive Vice President, President of Wealth Management and Regional President at NBT Bank and Dr. Havidán Rodríguez, University at Albany President, said, "Cohoes is an up-and-coming Capital Region community, and the DRI will help to further establish it as a diverse and vibrant destination. The Capital REDC looks forward to the strategic community-informed projects that will connect residents and newcomers with all this city has to offer."
State Senator Jacob Ashby said, "The governor has made a wise choice in selecting Cohoes for a DRI grant. These resources will accelerate growth and progress sparked by a series of public and private investments in the city's affordable housing, exciting restaurants and vibrant arts scene. I'm proud to support this."
Assemblymember John T. McDonald III said, "As a former Mayor of Cohoes and the current Assemblymember, I have always dreamed of an opportunity such as this Downtown Revitalization Initiative for my hometown. I am so happy for the City and for our residents who will benefit from this transformational project. I want to thank and credit Governor Kathy Hochul for bringing this to life and note that the Executive and the Legislature wholeheartedly agree on the importance of this program. In addition, the City of Cohoes DRI is a logical fit with the New York Housing Compact proposed by Governor Hochul in the Executive budget. Through the DRI we are investing in our urban centers that gave birth to our suburbs and the success of these urban centers results in outward growth. As we work to make New York State more livable and affordable, this is an excellent investment of state resources and enhanced residential development will lead to greater business opportunities. A true win for all New Yorkers."
Cohoes Mayor William Keeler said, “I’m very grateful to Governor Kathy Hochul for coming to Cohoes and personally delivering her message of confidence in our economic development plans. The $10 million in state funding from the DRI will be transformative for our historic downtown. The funding will allow us to rehabilitate and re-purpose long vacant buildings, add new housing units as well as retail storefronts. Increasing population downtown will grow Cohoes in a smart way, adding vibrancy to the beating heart of our city.”
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