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FOR IMMEDIATE RELEASE: December 16, 2010


Project Will Lead to More Commercial Space in Albany—Can Translate Into Jobs and Increased Economic Activity

Bill Could Clear Senate as Early as Next Week

Today, U.S. Senator Charles E. Schumer announced that the omnibus appropriations bill includes $825,000 in funding for rehabilitation of a pivotal building in a targeted neighborhood for revitalization to include artist housing and commercial space in the City of Albany. Funds will assist with rehabilitation costs for this 41,000 square-foot building. Schumer requested that the subcommittee include funding for this project in the bill, and fought hard to ensure that it was included. 


“This funding will revitalize a blighted neighborhood building and deliver a much-needed shot in the arm to the regional economy,” said Schumer. “While the rehabilitation effort will employ New Yorkers immediately, its completion will bring the region greater economic opportunity and future growth. I will continue to prioritize rehabilitation efforts and the significant economic boost that it will bring to New York.”


The Arbor Hill Reclamation project –St Joseph’s Restoration consists of the historic rehabilitation of an existing, vacant, 4- story 41,000 square foot former school in the distressed and low-income Arbor Hill Neighborhood of Albany, New York. The project will be developed and ultimately owned by Pearl Overlook Corporation, a not-for-profit wholly owned affiliate of the Albany Housing Authority. The building, once completed and occupied, will be managed by the Albany Housing Authority and be known as ‘The Barn.’ Albany Barn, Inc is a private nonprofit 501(c)(3) organization dedicated to creating a permanent, sustainable creative arts incubator and neighborhood art space in Albany.


The building currently is a blight in a neighborhood targeted for revitalization, creating unsafe conditions in this community. Rehabilitation, in concert with other current and planned investments here, will contribute to a major improvement in the quality of life and economic vitality for local residents and the City of Albany.


The Omnibus still needs to pass the Senate, but inclusion in this critical spending bill is a huge step forward.  The Senate is poised to vote on the bill in the coming week.  If the bill is not passed, the Senate will either have to pass a continuing resolution, funding the government at the 2010 levels, or the federal government will be forced to shut down.   



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