Latest news with #KathyHochul
Miami Herald
7 hours ago
- Business
- Miami Herald
One-of-a-Kind Opportunity Unlocked for 8-Acre Urban Infill in New York's Capital City
Capitalize Albany's New RFP Advances Long-Awaited Development at Liberty Park ALBANY, NY / ACCESS Newswire / July 16, 2025 / Capitalize Albany Corporation has issued a Request for Proposals (RFP) inviting qualified real estate developers to acquire and revitalize Liberty Park, a prominent 8-acre site in the heart of downtown Albany. This unique site, long regarded as one of the Capital Region's most significant redevelopment opportunities, is now fully assembled, owned by Capitalize Albany and primed for transformative investment. Liberty Park's redevelopment comes at a critical time, coinciding with record momentum in downtown Albany. Over the past decade, the implementation of Capitalize Albany's Impact Downtown Albany strategic plan has catalyzed over $385 million in new investment, resulting in the creation of more than 1,000 new multifamily residential units and major public infrastructure projects such as the Albany Skyway and Clinton Market Collective. This opportunity is further bolstered by Governor Kathy Hochul's more than $400 million Downtown Albany Championing Albany's Potential (CAP) Initiative, which includes $200 million in targeted investment within a one-mile radius of the Capitol. Liberty Park is uniquely positioned to align with and benefit from this unprecedented state-level investment, located steps from some of the biggest attractions in the city including the New York State Capitol, Empire State Plaza, The Egg performance venue, New York State Museum and MVP Arena. This historic downtown location offers great access to all parts of New York's capital city and is only minutes from major R&D assets, in an area with a regional population of more than 1.1 million and a labor force of more than 550,000. "The release of this RFP marks a milestone moment for Liberty Park and for downtown Albany," said Capitalize Albany Corporation president Ashley Mohl. "We're aiming to generate strong interest and receive proposals that will unlock the full potential of this site. Marketing the site, identifying development opportunities, and evaluating proposals are the next major steps toward realizing this vision." The RFP is being actively marketed in partnership with CBRE Upstate-NY, which is leveraging its national and global reach to attract potential development partners. Proposals are due by 3:00 p.m. ET on August 26, 2025, and full RFP materials, including drone footage and site information, are available at Backed by robust public-sector collaboration, the Liberty Park development opportunity builds on more than seven years of strategic site assemblage led by Capitalize Albany. Key partners include Empire State Development, the Albany Convention Center Authority, the City of Albany Industrial Development Agency and Capitalize Albany's Board of Directors. The Liberty Park site encompasses approximately 8 acres, generally bounded by Broadway to the east, Hudson Avenue to the north, Liberty and Pruyn Streets to the south, and Green Street to the west. It contains 54 parcels which include four key structures, among them the former Trailways bus station and the Greyhound Bus Terminal, which was acquired by Capitalize Albany in October 2024. Discussions are ongoing to support the relocation of regional transit operations. SOURCE: Capitalize Albany Corporation press release
Time of India
14 hours ago
- Business
- Time of India
Goldman Sachs finances $270 million affordable housing project in New York
NEW YORK: Goldman Sachs will finance a $270 million affordable housing project to build 385 apartments in the East New York neighborhood of Brooklyn , New York Governor Kathy Hochul's office said. The city's housing crunch and rising rents have become a key focus of Democratic mayoral candidate Zohran Mamdani 's campaign. The project financed by Goldman's Urban Investment Group will include commercial space, the governor's office said in a statement. "This project is helping us fight the housing affordability crisis while also prioritizing improvements that will make the neighborhood more livable for families," Hochul said. Mamdani aims to invest public dollars to triple the city's production of permanently affordable, union-built, rent-stabilized homes - constructing 200,000 new units over the next 10 years, according to his campaign website. His stunning victory over former Governor Andrew Cuomo has drawn concerns from business leaders, including some on Wall Street, about the costs of his proposed policies. Goldman's Urban Investment Group has invested nearly $11 billion in affordable housing and other development projects across the state and $9 billion in New York City since 2001. "Our investment is a down payment on East New York's potential, creating thousands of high-quality, affordable homes and essential services that will fuel the economic vitality of the community," said Asahi Pompey, chairman of Goldman's Urban Investment Group.
Reuters
a day ago
- Business
- Reuters
Goldman Sachs finances $270 million affordable housing project in New York
NEW YORK, July 15 (Reuters) - Goldman Sachs (GS.N), opens new tab will finance a $270 million affordable housing project to build 385 apartments in the East New York neighborhood of Brooklyn, New York Governor Kathy Hochul's office said. The city's housing crunch and rising rents have become a key focus of Democratic mayoral candidate Zohran Mamdani's campaign. The project financed by Goldman's Urban Investment Group will include commercial space, the governor's office said in a statement. "This project is helping us fight the housing affordability crisis while also prioritizing improvements that will make the neighborhood more livable for families," Hochul said. Mamdani aims to invest public dollars to triple the city's production of permanently affordable, union-built, rent-stabilized homes – constructing 200,000 new units over the next 10 years, according to his campaign website. His stunning victory over former Governor Andrew Cuomo has drawn concerns from business leaders, including some on Wall Street, about the costs of his proposed policies. Goldman's Urban Investment Group has invested nearly $11 billion in affordable housing and other development projects across the state and $9 billion in New York City since 2001. "Our investment is a down payment on East New York's potential, creating thousands of high-quality, affordable homes and essential services that will fuel the economic vitality of the community," said Asahi Pompey, chairman of Goldman's Urban Investment Group.
New York Post
a day ago
- Business
- New York Post
Worker at Hochul's hand-picked CDPAP payment firm allegedly siphons off cash meant for participants
ALBANY – A worker with the firm at the center of Gov. Kathy Hochul's scandal-plagued Medicaid homecare program allegedly siphoned off cash from potentially thousands of participants. The employee of Public Partnerships, LLC — the company hand-picked by Hochul's administration to act as the sole payment go-between for the state and participants in the Consumer Directed Personal Assistance Program — had been falsifying the direct-deposit information of up to 10,000 participants, sources told The Post. 3 Gov. Kathy Hochul's Medicaid homecare program is faced with yet another scandal. Mike Groll/Office of Governor Kathy Hochul The New York program pays for people to take care of disabled or elderly loved ones and recently hired the company to eliminate the loads of middlemen payment firms and instead funnel everything through it. The company discovered last week that one of its employees was directing homecare participants' paychecks to fraudulent bank accounts, including some overseas, sources said. 'There was an agent who worked on the phones who got fired a week ago, who was misdirecting direct deposits to the wrong accounts and sending money to offshore accounts as well,' a PPL employee told The Post. The source said the FBI was involved, though a rep for the federal agency would not confirm the existence of an investigation when asked by The Post on Tuesday. It was not immediately clear how many assistants have been impacted by the breach, but the number could be upwards of 10,000 people, sources said. It also is not clear how long the scheme has been going on or exactly how much Medicaid cash has been lost, though the figure could feasibly reach hundreds of thousands of dollars since PPL began paying assistants in April. 'It just keeps getting worse,' a PPL worker said of the massive turmoil surrounding Hochul's attempt to consolidate hundreds of payroll middlemen companies under one firm. A rep for PPL confirmed to The Post that an employee was 'terminated for not following the approved procedures' and is being 'investigated' but did not comment further, including to refute the allegations. Hochul's office did not comment on the allegations that funds were being siphoned into fraudulent bank accounts. 3 Hochul and state legislators slipped a provision into last year's state budget to consolidate hundreds of murky payroll middlemen firms for CDPAP into one firm hand-picked by the state. goodluz – The alleged theft is only the latest scandal to taint the program. The firm has already been dealing with a phishing scam using phony Google Ads to target participants into coughing up their personal information, though it says none of its systems have been compromised. 'We have confirmed that fewer than 100 [personal assistants] out of more than 225,000 across New York State were victimized by this scam,' PPL said in a statement. 'We will ensure that every PA is reimbursed for any lost wages.' The governor's office said PPL notified the state of the phishing scam and that it was proof that the move to consolidate the firms was working. 'When PPL reported a recent phishing scam, the State ensured PPL took action to address it,' Hochul spokesperson Sam Spokony wrote in a statement to The Post. 3 PPL President Maria Perrin is resigning within the next 60 days — one of several leadership changes amongst the private equity firm's top ranks in recent weeks. YouTube/Public Partnerships PPL 'This immediate review and response would not have been possible under the old CDPAP system, which was plagued by hundreds of wasteful middlemen.' But Hochul also has been under intense scrutiny from critics on both sides of the political aisle who've accused the state of rigging the bid for PPL and ramming through the transition on an unrealistic timeline, amongst other complaints. The Post was first to report that serious career prosecutors from the DOJ's Consumer Affairs Branch are investigating PPL and the CDPAP transition. Earlier this month, the state reached a legal settlement with the New York Legal Assistance group to push back a deadline for people to register with the new firm. The company source said they believe PPL's president, Maria Perrin, is taking the fall for the breach after she announced her resignation internally over the weekend. 'I think they needed someone to take the fall for that, and Maria happened to be handy, and she just resigned, she's gone,' the employee said. A company rep denied that Perrin's departure had anything to do with the data breaches. Perrin's departure comes amid a slough of resignations at the top of echelons of the private-equity-owned firm's ranks. PPL's head honcho, CEO Vince Coppola, resigned last week, the Albany Times Union said. The Post's well-placed PPL source said Executive Vice President Vicente Armendariz, who helped lead the New York transition, resigned within the past month. The company rep did not comment on Armendariz. 'With the CDPAP transition nearing completion and the operation entering a steady state, Maria is confident that PPL is prepared to succeed when she exits in the fall,' a PPL representative told Politico, which was first to report her resignation Monday. The governor's office and the state Department of Health have been defending the firm for months, claiming that as recently as May 15, 98% of 198,000 fully-onboarded CDPAP assistants at the time had submitted timecards and received paychecks. But Ilana Berger, political director of Caring Majority Rising, a group that has fought to reverse the transition, wrote in a blistering statement. 'Between this breach and a leadership exodus, it's clear PPL is in complete chaos. 'A competent organization would have had systems in place to immediately address a security issue like this – instead, PPL has made a bad situation significantly worse, creating widespread confusion for workers and consumers who depend on CDPAP for their wages and care. This is yet another glaring sign that PPL is fundamentally unfit for the job.'
Yahoo
a day ago
- Business
- Yahoo
Constellation to Pursue New York Nuclear Project, CEO Says
(Bloomberg) -- Constellation Energy Corp. is planning to pursue a nuclear project in upstate New York, responding to a push from the governor. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Plunge in 2025, Officials Say The biggest US nuclear operator already has three plants in New York, and Chief Executive Officer Joe Dominguez said these would be logical sites for a new reactor. The US is seeing growing enthusiasm for nuclear energy to meet surging power demand driven by artificial intelligence, data centers, factories and increasingly electrified homes. But few companies are willing to take on a major project without government support given cost overruns and delays often drag development. New York Governor Kathy Hochul last month called for at least 1 gigawatt of new fission power and directed state agencies to develop nuclear. Such a pursuit would potentially result in the first major US reactor in more than a decade, though Hochul didn't offer details on what kind of plant would be involved or where it would be built. 'It makes the most sense to create nuclear where there is existing nuclear,' Dominguez said in an interview Tuesday on the sidelines of the Pennsylvania Energy & Innovation Summit. Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot The New Third Rail in Silicon Valley: Investing in Chinese AI How Hims Became the King of Knockoff Weight-Loss Drugs 'The Turbulence Is Brutal': Four Shark Tank Businesses on Tariffs Will Trade War Make South India the Next Manufacturing Hub? ©2025 Bloomberg L.P.
