Similar to Hoboken, NJ or Roosevelt Island or Long Island City, the City of Rensselaer possesses extraordinary opportunity for the right developers. Situated along the Hudson River with spectacular views of the NYS Capital City, we’re home to the nation’s 9th busiest Amtrak station. With nearly 1 million passengers traversing the Rensselaer station per year, the surrounding properties are prime for related hospitality, office, residential and retail development.
The City of Rensselaer possess' an abundance of “shovel ready” land for development and an active Port and Industrial area available for commercial, industrial, or manufacturing development. Rensselaer is located at the center of an employment triangle bounded by the State Capital, RPI Tech Park and SUNY East Campus with its related biotech and biomed incubator space. With existing cargo rail access and a rebuilt wharf for shipping, Rensselaer is ideally positioned for growth in the decades to come.
Please consider the possibilities here in Rensselaer for your next strategic investment and do not hesitate to contact Charles Moore at any time at 518.465.1693 or [email protected].
Rensselaer: A Friend to Business
The City of Rensselaer is making a concerted effort to make sure every business in Rensselaer is seeing success. The Rensselaer City IDA actively supports businesses with the goal of creating jobs. The independent body has the power to provide financial assistance to businesses and assign various incentives to worthy projects, such as payment in lieu of tax agreements. The Rensselaer Local Development Corporation is also available to assist with economic development projects.
In addition, the city has available a unique Economic Development Loan Program to offer below market- rate loans to eligible businesses to finance the acquisition of land, buildings, machinery and equipment as well as for new construction, renovation, expansion and/or conversion of facilities to help spur growth and job creation. The city also provides interest-free loans for residents of the Fort Crailo Historic District to finance facade improvements to their buildings. The Fort Crailo Façade Revolving Loan Program has helped transform many of the older buildings throughout the District, beautifying and energizing this hidden regional gem.
The Rensselaer Rail Station is the first major rail center built in the United States in over 50 years. The station is the 14th busiest Amtrak station in the network across the country with over 600,000 customers passing through every year (a volume that surpasses many metropolitan areas). The Capital Region is one of the few areas in the country where passengers can travel north, east, south, or west by rail. The centrally located Rensselaer Rail Station serves passengers traveling to and from New York City, the Adirondacks, Canada, Vermont and upstate New York area.
Rensselaer Esplanade and Riverfront Apartments
The City of Rensselaer has received $3.1M in grants from New York State to support plans to design and build a riverfront esplanade along de Laet's Landing and is pursuing funding to continue it north to the city boat launch off of Forbes Avenue. The new 1.5 acre park and 1,000 linear ft. riverfront park will offer greenspace, a bike path and the potential to hold outdoor summer concerts while offering sweeping views of Albany across the Hudson River.
Marx Properties will over see the $21M, 96-unit apartment building and will be the start of the mixed-use development and will be transformative for city residents, visitors and businesses as a driving economic force.