Private developments planned for downtown Albany - WALB.com, Albany News, Weather, Sports

Private developments planned for downtown Albany

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By Wainwright Jeffers - bio | email

ALBANY, GA (WALB) – We've heard it before, more private development could be coming to downtown Albany.

But downtown leaders say this year will be different.

A new downtown manager is in place, and a new tax allocation district will dedicate more property tax money to spur retail and housing development.

ADICA has roughly $5 million to help breathe new life into downtown, they're getting interest from some private developers.

One proposal by a developer is to turn the bus station, which will relocate, into a place for retail shops.

ADICA owns the parking lot across the street, they also want to see that area develop.

"It's currently off the tax roll because ADICA owns it we want to get that into private into private development back on the tax roll generating tax dollars," said Aaron Blair, Downtown Manager.

There are also ideas to create affordable loft space to help develop the area.

City leaders claim redevelopment downtown could create up to $155 million in new taxable value in that area over 30-years.

The point to Atlantic Station in Atlanta as a good example of a successful Tax Allocation District in Georgia.

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