Smaller, less expensive Albany convention center

The Business Review is reporting that a scaled-down version of a proposed Albany convention center could cost $66.5 million for an 82,000-square-foot facility to be located on Eagle Street near the Capitol.

It is expected the venue would attract 87,000 visitors every year and generate enough revenue to cover any operating costs. Construction could start as early as September 2014 and be finished by July 2016, creating approximately 114 construction jobs and 157 permanent jobs.

The current financing plan requires state approval – with the state providing $62.2 million in funding for the project, and the balance of funding from Albany County’s hotel occupancy tax and the Albany Convention Center Authority.

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