A New Vision for a Downtown Albany Landmark
The Abraxas building at 90 State Street has already seen significant change in recent years as its upper floors shifted from traditional office space to modern apartments. Now the developer behind the property is preparing for a new phase of investment valued at $7.4 million. This next stage focuses on transforming the lower and common areas into a collection of lifestyle amenities designed to support both residents and businesses in the heart of the city.
Albany’s downtown corridor has been working to reinvent itself as a place where people can live, work, and spend their free time without ever leaving the neighborhood. The planned upgrades for the Abraxas building align directly with that mission. The project aims to turn the historic tower into a hub of convenience and community activity while also helping to fill the remaining commercial space.
What the $7.4 Million Upgrade Includes
The renovation plan brings a wide range of new spaces to the building. Each addition is designed to meet modern expectations for comfort and productivity while preserving the character of this well known Albany property.
Key New Amenities
- Full gym for residents and tenants
- Coworking suite with open seating, private desks, and a conference room
- Coffee shop on the ground floor
- Lounge and gathering space created inside the building’s former banquet hall
- Theater room and card or game room located on the mezzanine
- Wine room built inside the original bank vault
These upgrades make use of the building’s existing structure in a creative way. For example, the former banquet hall becomes a place for networking and community events, while the old bank vault offers a unique setting for a wine room. The design highlights the property’s history while giving tenants new reasons to stay connected to the space.
A Push to Strengthen Downtown Albany
Developers and city leaders have been focused on making downtown Albany more appealing for residents and local businesses. Projects like this bring new energy into the corridor and help support nearby restaurants, shops, and entertainment. By adding amenities that cater to both work and leisure, the Abraxas building is positioning itself as a central destination for people who want convenience and community within walking distance.
The improvements also aim to make the remaining commercial spaces more attractive to potential tenants. With a gym, coworking lounge, and coffee shop on site, businesses gain built in lifestyle perks that can support employees and clients.
Looking Ahead
Construction timelines have not yet been finalized, but the scope of the project makes clear that the developer intends to create long term value for the building and the district around it. Once complete, the upgraded Abraxas building will offer one of the most comprehensive amenity packages in downtown Albany. For the city, it adds momentum to the ongoing effort to create a more vibrant and accessible urban core.