The Sheridan Hollow area of Albany has been designated as a Brownfield Opportunity Area (BOA) by the New York State Department of State. This designation allows Albany to fast-track revitalization efforts and foster redevelopment in the 106-acre area.
ALBANY, N.Y. (NEWS10) -- The Sheridan Hollow area of Albany has been designated as a Brownfield Opportunity Area (BOA) by the New York State Department of State. This designation allows Albany to fast-track revitalization efforts and foster redevelopment in the 106-acre area.
“The designation of Albany’s Sheridan Hollow neighborhood as a Brownfield Opportunity Area is the State’s latest investment to help bring Albany closer to their renewal and economic goals. The BOA designation will amplify the work already underway as part of Albany’s $10 million DRI by creating additional economic development, strengthening the sense of community and enhancing resiliency projects in another section of the city," said Acting Secretary of State Robert J. Rodriguez.
The Affordable Housing Partnership of the Capital Region has received two grants from the BOA program totaling $554,400. The designated area is surrounded by Clinton Avenue, Pearl Street, Elk Street and Lexington Avenue.
Recommendations for revitalization include:
The BOA designations help local communities implement strategies to revitalize and rebuild neighborhoods affected by dormant and blighted brownfield properties and environmental injustices. Tax credit incentives are also available to encourage cleanup of brownfield sites.
More information about BOAs can be found on the Department of State website.
