NY Governor Announces $304M Redevelopment Plan for Campus

New York Governor George Pataki recently announced a multimillion plan to transform the aging 300-acre W. Averell Harriman State Office Building Campus in Albany, N.Y., into a world-class research and development technology park. 



"The transformation of the Harriman Campus will provide opportunities for researchers and entrepreneurs to work together right here in the Capital Region, attracting technology businesses and building new industries, to create high quality, high-tech jobs for 21st century," Gov. Pataki said in a press release. 



The plan paves the way for $304 million in combined public and private investment to help renovate aging facilities at the campus and to develop new office space. 



Under the plan, public sector investment will provide for site and infrastructure improvements costing $14 million and demolition costing $50 million. Approximately $240 million of private sector investment will build 1.2 million sq. ft. of new office space ($134 million); 650,000 sq. ft. of renovated office space ($40 million); 250,000 sq. ft. of renovated R&D space ($14 million); and 525,000 sq. ft. of new R&D space ($52 million). 

A 10- to 20-year build-out projected by the plan is expected to generate approximately 8,000 new private sector jobs and provide for 1,000 state jobs to remain on the campus. The plan also estimates the direct, induced and indirect economic impact on the Capital Region will exceed $220 million. 



The campus will target established technology employers and a mix of tenants conducting research in such areas as biotechnology, software, and telecommunications. Businesses working with technology developed at the University of Albany or resources available at the university also will be targeted. 



The plan is being made possible through a partnership between the New York State Office of General Services, the Empire State Development Corporation, and the University of Albany.