Urban housing is on the rise in the Capital Region and there is just one new unit available for sale at 17 Chapel, downtown Albany’s first and only luxury condominium building!

With high energy costs making it prohibitive to heat, cool and drive to large suburban homes, many cities long suffering from disinvestment are finding themselves in the midst of a housing boom. Here in Albany, evidence of this phenomenon is everywhere. Capitalize Albany, the city’s economic development organization, cites an overall investment of $35+ million towards the creation of 200 new downtown housing units in the last year alone.

As housing returns, diverse businesses and retail are again vying to occupy once vacant storefronts along Pearl Street, Broadway and State Street.  Hotel occupancy remains strong, construction of a state-of-the art convention center is underway and there are numerous active redevelopments.

This is truly an exciting time to invest in downtown Albany and 17 Chapel owners get the best of all worlds:  reduced energy bills, proximity to restaurants and entertainment venues, low taxes (only $78 a month), indoor heated parking, resort style amenities, customized quality design built to own verus, and a unique opportunity for an ownership position in a renaissance market.