News
June 21, 2022Redburn Presented with 2022 James M. DiNapoli Award
Redburn Development Partners was presented with the 2022 James M. DiNapoli Award at the Downtown Albany Business Improvement District’s 
(BID) Annual Meeting on June 15, 2022. The event, which serves to provide a report on the past year’s activities of the BID and state of the District, drew community members, Stakeholders, and elected officials.
Created in 2013 in honor of founding member and inaugural Chairman of the Downtown Albany BID, the James M. DiNapoli Award is presented to an individual, organization, or business that exemplifies Mr. DiNapoli’s spirit of partnership and community-building in shaping the direction of downtown Albany.
Redburn Development Partners made a splash in the downtown Albany market when, in 2018, the firm purchased eight buildings. Since the initial acquisition, their Downtown portfolio has grown to include 11 properties and they’ve reinvigorated approximately 625,000 square feet within the BID’s boundaries. Their initial investment of $80 million created 300 residential units, including their signature building — The Kenmore — meant they quickly became the largest residential property owners in Downtown. Seizing the strength of the Downtown market, Redburn has another $20 million in development bringing 40 apartments online and 175 new employees to downtown Albany.
While the buildings marked their entrance into the Downtown District, a long-held belief in Downtowns as vehicles for economic development is a pillar atop which Redburn Development Partners stands. Their visionary development of downtown Albany apartments and intentional curation of their retail spaces has increased the diversity of retail, food, and entertainment offerings that serve to create foot traffic seven days a week. In addition to attracting the attention of residential and commercial tenants, their projects have resulted in numerous accolades including being named Albany Business Review’s 2022 Developer of the Year.
It comes as no surprise that people want to live in downtown Albany, and throughout the pandemic interest in Redburn’s apartments did not wane, with tenants excited to be part of a community where they run into neighbors at the dog park, Downtown events, and while strolling our streets. Residential, the firm notes, is one piece of the puzzle that creates a vibrant Downtown. It also takes apartments, offices, art, history, activities, and, most importantly, collaboration and celebration of all great downtown Albany news by property owners, residential and commercial tenants, community groups, and elected officials.
Redburn Development Partners Principal Jeff Buell said: “We don’t do the work we do to receive an award. We do it because we believe passionately in the power of bringing new residents into Downtown as a vehicle for economic development. Receiving this award honoring someone who equally believed in the power of downtown Albany is gratifying and affirming that what we are doing is working and matters to both us and the community we are serving to lift up. We are grateful to our partners and tenants who make this hard work worthwhile, and who have wholly embraced our vision.”
Downtown Albany BID Executive Director Georgette Steffens said: “Jim DiNapoli believed wholeheartedly in downtown Albany, and that possibilities are endless when the right parties join forces to drive change. Redburn epitomizes this vision as their team has worked tirelessly to attract hundreds of residents, retailers, our first school, and office tenants to the Downtown District. The impact is felt every day as neighbors cross paths on our streets, in the dog park, and inside local businesses, and we thank them for their continued investment in the heart of Albany.”
Previous James M. DiNapoli Award recipients include Tracy Metzger (2013), I. David Swawite (2014), Joseph Nicolla (2015), Nancy Zimpher (2016), Anders Tomson (2017), Gavin J. Donohue (2018), Dan Nolan (2019), and Cornelius D. Murray, Esq. (2021).
