Albany NY Opportunity Zones
This article is part of a 4-part series on Capital Region Opportunity Zones. For more info, check out The Average Investor's Guide to Opportunity Zones, Schenectady NY Opportunity Zones, and Troy NY Opportunity Zones.
Albany NY is experiencing a real estate renaissance that is beginning to rival much larger markets throughout the country, and seeing huge investments and development as a result. Massive purchases from local and downstate developers were already raising eyebrows downtown, and now with the added tax incentives of the Opportunity Zone program coming to many key downtown areas, Albany is primed for attracting real estate investment for the foreseeable future. This program is a big deal for the Capital Region, and to learn why, check out our Average Investor's Guide to Opportunity Zones.
To understand exactly where the Opportunity Zones are located in Albany, check out our detailed map below. As you can see, the Albany NY Opportunity Zone starts from Albany Memorial Hospital, and extends south to Kenwood beyond the end of 787, which encompasses basically all of downtown Albany. The Opportunity Zone extends west to Albany Medical Center and the surrounding areas, and east to the Hudson, and even across the river into downtown Rensselaer.
Other notable landmarks within the Albany Opportunity Zone are the Arbor Hill neighborhood, the State Capitol, the Times Union Center, Lincoln Park, American Legion Memorial Park, and runs adjacent to Washington Park.